DCB Bank expands network in Odisha; inaugurates 50th branch in Bhubaneswar

DCB Bank expands network in Odisha; inaugurates 50th branch in Bhubaneswar

~ Also opens branches at Junagarh (Kalahnadi), Khariar (Naupada) and Padampur (Bargarh)

~ To serve individuals, small and micro enterprises, and agri businesses in the State

Bhubaneswar, March 16, 2022: DCB Bank, a new-generation private sector bank, today announced the opening of its 50th branch in Odisha – at Chandrasekharpur, a resident and commercial locality in capital city Bhubaneswar.

The new branch – a part of DCB Bank’s strategic expansion in Odisha – will offer customers a range of retail banking services such as savings and current accounts (CASA), Fixed Deposits (FD), and various loan products. It will provide a variety of loans to farmers, agri, micro and small businesses, local artisans such as Patachittra artists, Small Road Transport Operator (SRTO) and individuals. The branch will also disburse loans for tractors, high-tech farming, educational institutions, retail small ticket micro finance loans and Kisan Credit Card to farmers, in addition to loans against gold and loans to MSMEs. The Bank has financed construction projects particularly focused towards affordable housing.

DCB Bank also simultaneously opened branches today at Junagarh in Kalahandi district, Khariar in Nuapada district and Padampur in Bargarh district of the State.

Odisha has been an important state for DCB Bank. The Bank has played a critical role in the socio-economic development of the State and driving financial inclusion among the low-income and economically weaker members of society. Since establishing its first branch in Bargarh in the State, in 2012, the Bank has disbursed gold and tractor loans, commercial vehicle loan, micro business loan to customers. At present, DCB Bank serves more than 100,000 customers across 46 branches in Odisha. The new branches at Chandrasekharpur and in other locations will further expand its business operations and customer base.

DCB Bank Head of Agri and Inclusive Banking, Narendranath Mishra said, “DCB Bank is delighted to open its 50th branch in Odisha, a significant milestone not just for the Bank but for the state. DCB Bank has been closely associated with the economic development of the state and the financial inclusion of its people. The new branch at Chandrasekharpur will serve individuals as well as small and mid-size, agri and retail business, and help them to grow and flourish. DCB Bank looks forward to expanding its network throughout Odisha and providing its services across a diverse customer base.”

Community development and sustainable livelihoods are an integral part of DCB Bank’s values.

Over the past 3 years, women, and local communities in 10 villages of Banki Block in Cuttack district of Odisha have participated in creating sustainable livelihoods.

The project has built, created, and renovated water harvesting structures, thereby creating opportunities for sustainable livelihood. The activities included setting up water harvesting structures, village pond rejuvenation, sustainable fruit trees plantation and cash crop and horticulture enhancement.

The Bank has been an active participating in the overall development of Odisha through banking and corporate social responsibility activities.