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Dhanlaxmi Bank Ltd.

BSE: 532180 Sector: Financials
NSE: DHANBANK ISIN Code: INE680A01011
BSE 00:00 | 24 Jan 14.20 -0.49
(-3.34%)
OPEN

15.18

HIGH

15.18

LOW

14.10

NSE 00:00 | 24 Jan 14.20 -0.50
(-3.40%)
OPEN

14.55

HIGH

14.70

LOW

14.05

OPEN 15.18
PREVIOUS CLOSE 14.69
VOLUME 93340
52-Week high 20.20
52-Week low 11.51
P/E 13.03
Mkt Cap.(Rs cr) 359
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 15.18
CLOSE 14.69
VOLUME 93340
52-Week high 20.20
52-Week low 11.51
P/E 13.03
Mkt Cap.(Rs cr) 359
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dhanlaxmi Bank Ltd. (DHANBANK) - Chairman Speech

Company chairman speech

MD & CEO's Message

Dear Shareholders

I have immense pleasure in sharing my thoughts as a preface to the Annual report of thebank for the financial year 2019-20. It is a matter of great pride and privilege to sharethat the Bank could register profit of Rs65.78 crore the highest in its 93 years'history. This is the testimony of consistent and proactive approach taken by the bankunder guidance of its august Board as well as continuous patronage by all of you.

While the financial year 2018-19 with an annual profit of Rs11.67 crore can be termedas a year of stability the financial year 2019-20 with an annual net profit of Rs65.78crore can be termed as a year of progress. The bank could leave its tumultuous past torest and take a fresh step towards growth. The sense of stability the Bank could bring in2019-20 augurs well and paves way for a steady growth in coming years.

The propensity of growth is not without its share of concerns. The economy all over theworld is in troubled waters. The ill effects of the pandemic Covid 19 has played havoc inthe lives of billions of people across the globe. With no vaccines or treatment for thedisease lockdowns turned out to be the only course of action available to combat thespread of the same. Banking sector was one of the economic wheels which also got impacted.With some sectors predominantly spread in our state of Kerala the recovery could possibletake longer. However economic packages offered by the Government was an effort to assuagethe nerves. According to Financial Stability Report published by International MonetaryFund in June 2020 the financial conditions have started showing overall easing and riskasset prices have started to rebound. Swift and bold actions taken by central bank aimedat addressing the severe market stress have boosted market sentiments.

Despite constraints of movability / lockdown your bank continued to pursue it customercentric approach with penetration of digital capabilities and served their needsconsistently.

Your Bank score high on many financial parameters which interalia include Best CapitalAdequacy of 14.41% Lowest Net NPA ever (1.55%) Lowest GNPA best NIM so far (3.21%) PCR@ 89% to name a few. It is always the confidence of shareholders employees and communitywhich worked as bedrock of our stable growth and we shall continue to push our limits toserve the society at large and create value for all its stakeholders.

Your bank is hopeful of consolidating further the track record created during the twoprevious years. Steady progress in business de-risking credit book through efficientmonitoring migration of transactions to digital platform through IT transformationdeeper customer engagement unflinching corporate governance coupled with increase inproductivity is the new mantra for success.

We shall continue to pursue over relentless efforts towards building on relationshipsfurther towards excellence by adopting quickly the ‘New Normal'.

Yours Sincerely
Sunil Gurbaxani

.