Dena Bank aims to hit Rs 1.5 lakh cr mark by 2013

Public sector Dena Bank aims to achieve Rs 1.5 lakh crore business with a growth of 20% during this fiscal, according to a top bank official.

"We have set a target of Rs 1,50,000 crore by 2013," Dena Bank Chairperson and Managing Director Nupur Mitra, who assumed office today, said.

She said the bank reported 19.21% jump in total business at Rs 1,07,336 crore as of September 30, 2011.

On the outlook for this financial year, she said the bank would introduce gold loan and housing loans. "We plan to introduce gold loan scheme and housing loan. Already we have tied-up with 70-80 builders to sell [housing loans]," she said.

Besides, a revision of interest rates for savings bank accounts would be decided at the Asset Liability Committee meeting (ALCO), slated to be held this month.

She said the bank would lay special focus on Maharashtra and Gujarat as they have a significant presence there. "We have around 500 branches in Gujarat alone. With many auto majors, it is becoming a major hub," she said.

The bank has already opened 507 ATMs and aims to increase it to 757 by March 31, 2012, she said.

Source: Business Standard