DCB Bank Acquires Stake In NBFC Techfino Capital, Stock Edges Marginally Lower

DCB Bank was last trading 0.22 per cent lower at Rs 92.35 on the BSE

Share price of DCB Bank edged marginally lower on Thursday, April 22, a day after the private bank announced that it acquired a minority equity stake of around nine per cent in a fintech NBFC Techfino Capital Limited. On Thursday, DCB bank opened at Rs 92.55, touching an intra day high of Rs 92.55 and an intra day low of Rs 90.55, in the trading session so far. According to a statement shared by the new generation private sector bank, Techfino Capital uses a technology platform to offer customised consumer loans in the healthcare and education sectors. (Alson Read: DCB Bank Acquires 9% Stake In Non-Banking Financial Company ‘Techfino Capital’

DCB Bank is one of the new generation banks which obtained the scheduled commercial bank license from the Reserve Bank of India (RBI). The Mumbai-headquartered private sector bank offers internet and mobile banking for personal as well as business banking customers. Recently, the central bank approved the re-appointment of Mr Murali Natrajan as DCB Bank’s MD and CEO.

Whereas, the Bengaluru-based non-banking financial company or NBFC ‘Techfino Capital’ offer services such as short-term consumer loans in the healthcare, education and ed-tech sectors. The company plans to enter the eco-system and value chain of healthcare and education funding with the small to medium-term loans.

 On the NSE, DCB Bank opened at Rs 92.70, touching an intra day high of Rs 93 and an intra day low of Rs 90.50. It was last trading 0.59 per cent lower at Rs 92.15 on NSE. Meanwhile, DCB Bank was last trading 0.22 per cent lower at Rs 92.35 on the BSE.

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