Dhanalakshmi Bank is aiming for a total business of Rs 12,000-crore and hire 300 more personnel to take its total headcount to 4,000 by FY10, a senior bank official said.

“We crossed the Rs 10,000-crore business mark on Saturday. We hope to close FY10 with a total business of Rs 12,000-crore,” Dhanalakshmi Bank’s CFO Bipin Kabra said here today.

The private sector bank hopes to up its deposits to Rs 7,000-crore and advances to Rs 5,300-crore by then from the present Rs 5,700-crore and Rs 4,300-crore, respectively, he said.

At present, the bank’s focus is on corporate banking which constitutes 45 per cent of its advances portfolio. “SME will start kicking-in from now onwards and should constitute an equal percentage of our advances with retail at around 10 per cent,” Kabra said.

The bank is in the process of building-up its retail platform and will start focusing on this segment from next fiscal onwards.

“In the next two-years, retail and SMEs will be our growth engines with the retail portfolio expected to grow to 20 per cent,” Kabra said. While there would be no defocus on corporate banking, its percentage in overall advances will decline a little, he said.

The bank plans to beef up its distribution and retail segments by hiring another 300 personnel to take its total headcount to 4,000 by end-FY10. Currently, its staff strength stands at 3,700, he said.

source: Business Standard

Tags: dhanalakshmi bank

Similar Posts:

• Axis Bank net profit jumps 63%
• ICICI Bank net interest income increase 41% to Rs 2090cr
• J&K Bank posts net profit of Rs 94.56cr for Q1
• ICICI Bank Q3 net profit seen down 11.56% at Rs 1088.1 cr
• IndusInd Bank net profit surges by 44% in Q1FY09