Bank to mobilize Rs 1,000 cr in five months

The Kerala-based Dhanlaxmi Bank (DLB) Limited would mobilise Rs 1000 crore in four to five months, a top official today said.

With this mobilisation, the bank's net worth would cross rs 2000 crore, Bank's Managing Director and Chief Executive Officer, Amitabh Chaturvedi told reproters here.

The mode of mobilization of the capital was yet TO BE decided, he said adding it would be finalized by next month. The options of rights issue and private placement would be considered. However, the option of public issue may not be considered as it would take two to three months to complete the procedures, he said.

 

The bank had achived excellent performance for the quarter ended Dec 31  and its net profit for the quarter under review was Rs 7.3 crore.

While the advances went upt tto Rs 7700 crore, the deposits have risen to Rs 10,500 crore, recording an increase in between 70 and 75 per cent compared to the corresponding period last year.