Mumbai: Small sized private sector lender DCB Bank will slow down on its network expansion for the next two years to concentrate on improving profitability from existing network of around 300 branches. “We have added branches at a faster clip in the last two years but will slow it down to 10-15 each in FY19 and FY20,” DCB Bank’s managing director and chief executive Murali Natrajan told PTI. He said the bank has added 90 branches in the year to June 2017 to take it to 290, and will close FY18 with about 310 branches. The bank reported a 38% increase in its June quarter net at Rs65 crore, boosted primarily by a Rs21 crore treasury income. Natrajan said they expect some pressure on the spreads due to aggressive competition from banks and non-banking lenders, but added that the bank is comfortable with NIM at 3.75%.

Source: Mint July 16, 2017 06:56 UTC