The shares of this new gen Private Bank with a presence over 19 states and 3 union territories, have entered into a co-lending business alliance to offer affordable home loans and expand its business
At 3:15 p.m. the shares of DCB Bank Limited were trading at Rs. 126.50, down 5.95 percent from its previous day’s close price of Rs. 134.50 and its market capitalization is Rs. 3,948 Crores.
DCB Bank and Easy Home Finance Limited have entered a co-lending business alliance to offer affordable home loans in the country by leveraging digital technology.
This alliance seeks to leverage DCB Bank’s expertise in the affordable housing segment and Easy Home Finance Limited’s capabilities to enable quick disbursement of affordable home loans and fulfill the dream of many an Indian of owning a home, come true. The USP is to target the paperless processing of home loan
Easy Home Finance’s asset-light model of neo-banking mortgage and a greater reach for digital home loans combined with the rural and urban connect of DCB Bank will help customers in faster processing of their home loan application.
Speaking on the partnership, Mr. Narendranath Misha, Head-Retail & Agri Loans, DCB Bank, said, “The alliance enables the Bank to reach more geographies and deeper access in the affordable home loan arena. It will add to the home loan footprint of the Bank.
Its expertise in origination and credit assessment will be boosted with the expertise and digital tech of Easy Home Finance. It will enable more customers to experience the range of affordable home loan products of DCB Bank and fulfill the homeownership dreams of prospective customers in underserved geographies.
Mr. Rohit Chokhani, Managing Director, Easy Home Finance Limited, said, Our alliance with DCB Bank is a significant step towards providing affordable home loans and reaching added Indian households. In a bid to offer paperwork-efficient, cost-effective, and hassle-free home loans in the market, we are embarking on this journey.
As a common motive of being more customer-centric and broadening the geographical footprint, it aims to make the customer’s homeownership journey easier while offering them highly interactive digital experiences. Furthermore, customers will now be able to enjoy the best of both worlds, the trust of DCB Bank and the tech-focused offerings of Easy.
The company’s interest earnings grew by 19.57 percent from Rs. 3512.77 Crores in FY22 to Rs. 4,609.66 Crores in FY23, accompanied by increasing profits of Rs. 287.5 Crores to Rs. 465.56 Crores.
DCB Bank is a new-gen private bank engaged in providing banking and financial services through four segments i.e., treasury operations, wholesale banking, retail banking and other banking services.
Written by: Bharath K.S
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