Dena bank targetting business of 1.26 lakh crore in 3 years

Public sector Dena Bank aims to touch Rs 1,26,000 crores of business in three years time and open 400 new branches by this period, a senior official said.

The bank's current year business target was Rs 85,000 crore against last year's Rs 72,000crore, D L Rawal, the bank's Chairman and Managing Director, told reporters here last night.

Dena bank would be adding 100 new branches this year, including 10 branches in Chennai region and 3 in Kerala at Cheratlla, Muvattupuzha and Angamally. It has opened 4 Retail Asset branch and would be opening 8 more, including one at Chennai. There were also plans to open 3 Corporate business branches one each in New Delhi, Kolkata and Chennai.

At present it has 1186 branches spread across 24 states from Kutch to Assam and from Srinagar to Thiruvananthapuram and 4 union territories. Kerala has currently 10 branches and a new branch was opened today.

With the opening of more branches, the bank would be increasing its present staff strength from 9,900 to add another 1,290 clerical staff and 550 officers.

The growth this year is likely to be around 20-22 per cent against last year's 26 per cent, he said.

The bank would focus on housing, car, and educational loans, he said.