DCB Bank acquires minority stake in NBFC Techfino Capital, shares drop slightly
DCB Bank’s share price edged down on Thursday, April 22, a day after the private bank announced it had acquired a minority stake of around 9% in a fintech NBFC Techfino Capital Limited. On Thursday, DCB bank opened at Rs 92.55, touching an intraday high of Rs 92.55 and an intraday low of Rs 90.55, in the trading session so far. According to a statement shared by the next-generation private sector bank, Techfino Capital is using a technology platform to offer personalized consumer loans in the health and education sectors. (Alson Read: DCB Bank acquires 9% stake in non-bank finance company ‘Techfino Capital’
DCB Bank is one of the new generation banks which has obtained the planned commercial banking license from the Reserve Bank of India (RBI). The private sector bank, headquartered in Mumbai, offers internet and mobile banking services for individuals and businesses. Recently, the central bank approved the reappointment of Mr. Murali Natrajan as CEO of DCB Bank.
While the Bengaluru-based non-bank finance company or NBFC ‘Techfino Capital’ offers services such as short-term consumer loans in the health, education and electronic technology sectors. The company plans to enter the health and education finance ecosystem and value chain with small and medium term loans.
On the NSE, DCB Bank opened at Rs 92.70, hitting an intraday high of Rs 93 and an intraday low of Rs 90.50. It was last down 0.59% to Rs 92.15 on NSE. Meanwhile, DCB Bank was last down 0.22 percent to Rs 92.35 on BSE.