Dhanlaxmi to up retail banking focus, eyes 80% credit growth

Private-lender Dhanlaxmi Bank plans to grow its retail banking business by 500 per cent and credit growth by 70-80 per cent this fiscal, a top bank official said.

Dhanlaxmi Bank is targeting a retail loan-book size of Rs 3,000 crore this fiscal through a slew of new product launches and re-launches of some existing products.

The retail business contributes about 30 per cent of the total loan-book and is currently pegged at Rs 500 crore.

"We will focus strongly on retail banking by re-launching our products with some added features. We expect our retail loan-book to touch Rs 3,000 crore this fiscal and Rs 7,000 crore in FY 12," the bank's Managing Director and CEO Amitabh Chaturvedi told reporters here today.

The bank is eyeing a credit growth of 70-80 per cent at Rs 9,000 crore by end FY'11, substantially higher than the industry expectation of around 20 per cent, he said.

The bank has re-launched its retail asset products, that marks the beginning of the second phase of its retail business following the successful roll-out of its credit cards in this March.