Dena Bank likely to open 150 new branches in India this fiscal | business | Hindustan Times
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Dena Bank likely to open 150 new branches in India this fiscal

business Updated: Apr 12, 2010 15:53 IST

PTI
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Focusing on financial inclusion Dena Bank has proposed to open 150 new branches across the country this fiscal, a top official said on Monday.

"In addition to the licenses for opening 104 branches obtained last year, we propose to seek licenses from RBI for opening 150 new branches across India this fiscal," Dena Bank, Chairman and Managing Director, D L Rawal told reporters in Ahmedabad.

The bank has a strong network of close to 1,222 branches across the country, including 527 bank branches in Gujarat.

"We shall open four branches in Gujarat out of the license for opening 104 branches obtained last year, while another 20 branches are expected to be opened in the state once we get licenses from RBI this fiscal," Rawal said.

The credit portfolio of the bank in 2009-10 stood at Rs 35,753 crore as compared to about Rs 29,185 crore last fiscal, showing a growth of nearly 22.51 per cent, he said.

The credit off take in agriculture sector grew by 25.32 per cent, in retail 21.50 per cent, medium and small enterprise at 20.50 per cent, and by 50 per cent in infrastructure segment, Rawal said.

The bank had signed a MoU with the Gujarat Government during Vibrant Gujarat Global Investors Summit (VGGIS)-2009 for disbursing credit of Rs 5,000 crore to the industry, out of which nearly Rs 1,000 crore has already been disbursed so far, Rawal said.

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