Dhanlaxmi Bank, one of India’s fastest growing mid-size private sector banks, has appointed Mr. Manish Jaiswal as the Business Head for its Small and Medium Enterprises (SME) Group.
Mr. Jaiswal will head the bank’s SME Business and will be responsible for all trade, advances and credit to small and medium enterprises and will spearhead further growth of the business for Dhanlaxmi Bank. He will realign the existing framework and redefine significant profit centric formulae for the business with focus on cross selling of fee income products and services.
Announcing the appointment, Mr. Amitabh Chaturvedi, Managing Director and Chief Executive Officer, Dhanlaxmi Bank said: “As bankers we see a lot of opportunities in the SME segment in the country. Manish’s plethora of experience and deeply rooted relationships in this segment will surely help Dhanlaxmi Bank to drive its plans of expanding this division. He is definitely an important cog in our growth strategy and vision to be one of the country’s leading banks in the near future.”
In a career of over 18 years, Mr. Jaiswal has held key positions in companies such as Fullerton India Credit Company, Citigroup and Eicher Motors. In banking and financial services, he has developed his expertise on SME, commercial banking, and liabilities and debt management. Mr. Jaiswal has had the distinction of being accredited with 10 career levels in 18.5 years.
About Dhanlaxmi Bank:
Dhanlaxmi Bank is an 84-year old bank, being incorporated in 1927 at Thrissur, Kerala. In the last three years, it has transformed into a well diversified bank with a pan-India presence from being an SME focused South India based bank. With a network of 275 branches and 460 ATMs covering 160 centers across 14 states, the bank services a broad customer base of 1.6 million. The bank provides a suite of banking products and services to its customers across Retail Banking, Wholesale Banking, Microfinance and Agricultural Lending and Small and Medium Enterprises Group.
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During the last three years, Dhanlaxmi Bank’s total deposits increased from Rs 3,608 crore as on March 31, 2008 to Rs. 12,530 crore as on March 31, 2011, advances rose from Rs. 2,102 crore as on March 31, 2008 to Rs. 9,065 crore as on March 31, 2011. The bank had a total business of Rs. 21,595 crore, as on March 31, 2011 with total asset base at Rs. 14,268 crore.
Dhanlaxmi Bank is rapidly reducing its reliance on South Indian markets. Dhanlaxmi Bank’s loan book as on March 31, 2011, shows that the bank had 53% lending in non-south Indian states from 13% as on March 31, 2008. During the same period, deposits from non-South Indian states also increased to 45% from a mere 6% earlier.
The shares of the bank are listed on the Bombay Stock Exchange Limited, the National Stock Exchange of India Limited and the Cochin Stock Exchange.
For additional information please log on to www.dhanbank.com
