Dhanlaxmi Bank to open more branches, add 2000 employees

The Kerala-based Dhanlaxmi Bank proposes to open 125 more branches across the country and recruit 2,000 staff by 2011-12, a top official today said.

Last fiscal the bank opened 66 branches, while no branches were opened this year, Managing Director Amitabh Chaturvedi, told reporters here.

"At least 100 branches were renovated this year and 26 extension counters upgraded. The bank presently had 275 branches," he added.

The employee strength is currently 4,000, which would go up to 6,000 by 2011-12 fiscal, he said.

Of the new branches, some would be in Kerala while the rest would be in other states, he said.

He said the Thrissur-based bank's second quarter growth was equivalent to last year's full growth. During the third quarter, about 400 employees were taken in for retail business. With this the bank will have a separate team to cater to home and car loans segments, he said.

General Manager (Credit) P G Jaykumar said the bank's business is expected to touch Rs 23,000 crore by March 2011. The bank's business last year was Rs 16,500 crore both deposits and advances combined.