14 Apr 2013

Dena Bank to expand network, hopes for Rs.600 crore capital infusion

Chennai, April 13 (IANS) Government-owned Dena Bank plans to expand, opening around 175 branches and adding around 560 automatic teller machines (ATMs). It is hopeful of over Rs.600 crore fresh capital infusion this year, a top official said Saturday.
"We plan to open between 150-175 branches and add around 560 ATMs this fiscal. Presently the bank has around 570 ATMs," Ashwani Kumar, chairman and managing director, told reporters here.
Kumar said the bank had asked the government for additional capital infusion of around Rs.1,260 crore.
"We expect at least fifty percent of that this fiscal. The bank hopes to grow its total business by 24 percent this fiscal," Kumar said.
He said the bank has crossed a total business (deposits and advances) of Rs.150,000 crore last fiscal, and hopes to touch a figure of Rs.400,000 by 2017.
Agreeing that there will be pressure on net interest margin (NIM) this year, Kumar said the bank is focusing on retail lending with particular focus on traders and doctors.
Queried about the bank's performance for the year ending March 31, 2013, Kumar said the numbers are being compiled and he is not in a position to throw light on that.

You May Also Like


Popular Posts