Dena Bank opens corporate business branch

Public sector Dena Bank today opened its Corporate Business Branch here.

The branch would be a one-stop Financial Super Market to cater to composite credit, foreign exchange and other banking needs of the corporate sector, a bank press release said.

The Branch would process credit proposals of Rs 20 crore and above. It will also be opening 10 branches in Chennai region by end of the current fiscal.

Speaking on the occasion, D L Rawal, Chairman of the bank said the bank was consolidating its presence across India through organic growth.

"We plan to open 400 branches across India in the next 3 years and 100 more branches by end of the current fiscal. We are targeting a customer base of one  crore through 1286 branches. Chennai Corporate Branch, the 1195th branch, is part of this strong expansion plan. We will be further opening two more Corporate Business Branches in New Delhi and Kolkata," he said.

He said the bank had crossed a business mix of Rs 75,000 crore as on 30th September 2009 and was confident of touching a business mix of 1,26,000 crores in the next 3 years.