DCBBANK.NSE DCB Bank Ltd.

Through this collaboration, Max Life and DCB Bank will provide a variety of life insurance products to the banks customers, including term, savings, and retirement plans, allowing them to protect their financial future and expand their investment portfolio, the bank stated in the press release.The business tie-up will offer bank customers access to Max Lifes protection and long-term savings solutions, offering financial stability for themselves and their families, it added.Praveen Kutty, Head Retail Banking, DCB Bank, said, “DCB Banks tie-up with Max Life will pave the way for adaptable, and varied life insurance products for our customers. Through this partnership, we aim to empower our customers by providing them with innovative and flexible life insurance products that cater to their needs.He further added, We are confident that Max Lifes bouquet of customized need-based products, along with the banks growing reach and strong technology capabilities, shall improve insurance penetration across the branch network.”Max Life Insurance Company is a joint venture between Max Financial Services and Axis Bank Limited. Max Financial Services is a part of Max Group. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multi-channel distribution including agency and third-party distribution partners.DCB Bank is engaged in providing banking and financial services. Its net profit jumped 25.4% to Rs 142.21 crore on 25.8% rise in total income to Rs 1,301.61 crore in Q4 FY23 over Q4 FY22.

Max Life Insurance Company announces its partnership with DCB Bank. Through this collaboration, Max Life and DCB Bank will provide a variety of life insurance products to the Banks customers, including term, savings, and retirement plans, allowing them to protect their financial future and expand their investment portfolio.

DCB Bank has allotted 162,606 equity shares under ESOP on 11 July 2023. Accordingly, the issued and paid-up share capital of the Bank stands increased from 31,17,30,533 equity shares of Rs.10each to311,893,139 equity shares of Rs.10each.

The approval is valid for one year from the date of the RBI letter. TAMPL is also advised by the RBI to ensure that its aggregate shareholding in the Bank shall not exceed 7.5% of the paid-up capital of the bank at all times.The approval is subject to compliance with the relevant provisions of the Banking Regulation Act, 1949, the Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies, the regulations issued by the Securities and Exchange Board of India, the Foreign Exchange Management Act, 1999, and any other guidelines, regulations, and statutes as applicable.As on March 2023, Tata Mutual Fund (Tata Small Cap Fund) held 4.95% in DCB Bank.DCB Bank is engaged in providing banking and financial services. Its net profit jumped 25.4% to Rs 142.21 crore on 25.8% rise in total income to Rs 1,301.61 crore in Q4 FY23 over Q4 FY22. Last month, the bank said that its board has formed a search committee to identify a successor to the current managing director & CEO, Murali Natrajan, whose term ends on 28 April 2024.

Axis Securities has reiterated a "buy" call on the stock at a target price of Rs 150, saying DCB regained its growth momentum in FY23 and is expected to sustain it

Axis Securities is bullish on DCB Bank has recommended buy rating on the stock with a target price of Rs 150 in its research report dated July 05 2023.