Dhanalakshmi Bank

Dhanalaxmi Plans on Branch Additions

Dhanalaxmi Plans on Branch Additions

Private-sector lender Dhanalaxmi Bank, currently, managing 270 branches, has decided to take a call on network expansion in the second-half of this fiscal. It plans to raise 3.5-4 billion rupees via a qualified institutional placement to fund loan growth in 2010/11.

The bank believes in setting priorities and therefore has decided to stabilize its branch this year and aim for a total business of Rs 20,000-crore by end-FY11.

Dhanalakshmi Bank introduces branches in Mumbai

Privately held Dhanalakshmi Bank has inaugurated two branches in Mumbai. Out of the two branches, one has been opened at Goregaon in Mumbai and the other at Nalasopara, on the outskirts of the city.

Recently, the lender has introduced eight subdivisions each in south and west India, nine in the north as well as two in the east.

In declaration, the bank said that it has won authorization from Reserve Bank for inaugurating a total of 66 new branches as well as 380 ATMs across India.

Dhanalakshmi Bank slashes deposit rates

Dhanalakshmi Bank slashes deposit ratesDhanalakshmi Bank, leading private sector-lender, has revised its interest rate downward on deposits across various slabs. The sources informed that the revised rates are effective from August 17.

According to bank authorities, deposits with tenure of one-year and above but less than five-years will now attract an interest rate of 7.50% as against the earlier 8%.

Dhanalakshmi Bank plans to mobilise Rs 400 crore

Dhanalakshmi Bank plans to mobilise Rs 400 croreThe private sector Dhanalakshmi Bank Ltd here would mobilize Rs 400 crore Tier II capital as Bonds soon.

Mr. Amitabh Chaturvedi, MD and CEO, on Saturday announced that the bonds for Rs 200 crore were expected to be issued in a week's time.

He also added that the period of the bond and rate of interest were not yet settled.

Dhanalakshmi Bank to hire 1300 employees; Q4 net grows 102%

Dhanalakshmi Bank to hire 1300 employees; Q4 net grows 102%Kerala-based private sector lender Dhanalakshmi Bank has plans to recruit close to 1300 employees, to tap more business in the country.

According to bank officials, the selection of new recruits would be on an all-India basis.

At present, the lender has about 1,400 total employees on its rolls, which it want to grow to 2,700 by 2010.