DCB Bank picks up 9 pc stake in Techfino Capital

By: |
April 21, 2021 5:10 PM

"DCB Bank and TCPL are delighted to be associated in this manner. Micro loans or granular loans as a financial solution hold much promise.

In value terms, the gross NPAs stood at Rs 1,083.44 crore, significantly higher than Rs 631.51 crore in the year-ago period.In value terms, the gross NPAs stood at Rs 1,083.44 crore, significantly higher than Rs 631.51 crore in the year-ago period.

DCB Bank said it has acquired 9 per cent stake in non-banking financial company Techfino Capital which is engaged in providing technology-based education and healthcare loans.

DCB Bank has acquired a minority equity stake of approximately 9 per cent in Techfino Capital Private Limited (TCPL), the lender said in a release.

Techfino is a Bengaluru based non-banking financial company (NBFC) which using its modern technology platform to provide customised consumer loans in education and healthcare sectors.

It is present in key metros and tier II cities across India, said the new generation private sector bank.

“DCB Bank and TCPL are delighted to be associated in this manner. Micro loans or granular loans as a financial solution hold much promise.

“We value each other’s experience and expertise to build a granular loan portfolio with patience and nuance,” said Narendranath Mishra, Head Agri and Inclusive Banking, DCB Bank.

DCB Bank and Techfino complement each other’s strengths, and this is an opportunity for both organisations to grow the customer franchise, he added.

The association with DCB Bank is an important milestone. It shall help in the growth of the business as TCPL goes about providing financing solutions to its customers, said Jayaprakash Patra, co-founder director, Techfino Capital.

“Together, we aim to create a win-win ecosystem, offering our customers a bouquet of customized financial solutions using TCPL’s robust technology platform,” he said.

The funds raised will be used in enhancement of current tech stack apart from on-lending to customers, TCPL said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1CSB Bank reports highest-ever net profit of Rs 218.40 crore for FY21
2Bandhan Bank Q4 profit falls 80% to Rs 103.03 crore on higher provisions
3DCB Bank profit rises 13pc to Rs 78 cr in January-March