Dhanalakshmi Bank to open 80 new branches, 500 ATMs

Dhanalakshmi Bank, one of the traditional old-generation private banks based in Kerala, plans to recruit 1,000 professionals and open 80 branches across India in coming days, a top official of the bank has said.

"At a time when all the talk is about recession and retrenchments, DLB is on a recruitment spree and plans to take in nearly 1,000 professionals in the coming days," Dhanalakshmi Bank Managing Director and Chief Executive Officer Amitabh Chaturvedi told reporters here yesterday.

Of the 80 branches, 63 would be in other states. The approval from the Reserve Bank of India for opening new branches was expected by this week, he said.

The bank planned to increase its capital base by Rs 400 crore through bond issues and had already received necessary sanction of the same, he said.

On the bank's performance, he said the business volume had surpassed the target for the current fiscal.

Deposits would touch Rs 4,700 crore by this month end, an increase of Rs 1,300 crore this year. Similarly, advances would touch Rs 3,000 crore during the year, he said.

The NRI deposit was around Rs 300 crore, he said.