Dena Bank aims 25% growth in 2013-14
Chennai: State-run Dena Bank is targeting a growth rate of 25 percent in its total business during the current financial year, a top official said on Saturday.
The Mumbai-based bank is also planning to open around 150-170 branches during the period, Dena Bank Chairman and Managing Director Ashwani Kumar said.
"We are planning to have a growth of about 23-24 percent during this financial year. Segment wise it should be around 25 percent in credit and 23 percent in advances..", Kumar told reporters here.
On his maiden visit to Chennai after taking over as the bank's CMD, he said the bank was hopeful of getting at least 50 percent of capital from the central government.
"We have asked for Rs 1,260 crore in 2012-13 and 2013-14. At least they should give 50 percent this fiscal and rest in next fiscal..", he said.
Talking about bank's expansion plans, he said, "Currently, we have about 1,461 branches across the country with 900 of them present in Gujarat and Maharashtra.
We are planning to add another 150-170 branches during this financial year (across the country)".
He said the bank would also double the number of its ATMs by adding another 565 ATMs to the existing 576.
Noting that Net Interest Margin (NIM) was expected to be under pressure during the current financial year also, Kumar said the Bank will launch campaign for doctors and traders as part of its platinum jubilee celebrations scheduled to be held on May 26.
The Bank's exposure in retail portfolio was Rs 7,662 crore while on educational loan it was Rs 330 crore and the Capital Adequacy Ratio was 11.47 percent, he said.