Personal loan lender, Dhanlaxmi Bank has fixed a target of obtaining total business worth Rs 28000 crore in this fiscal. The estimate is twice the present number of Rs 14,000 crore.
Dhanlaxmi Bank is aiming for total deposits of Rs 13,000 crore and loan portfolio to Rs 9000 crore. The bank would mainly concentrate on segments such as corporate, SME and retail, said Amithabh Chaturvedi, MD and CEO of the bank.
Chaturvedi stated his concerns about the fact that the bank was in danger of its existence unless it obtains an overall business of Rs 40,000 crore and expands its branch network to more than 500.
The bank’s capital has gone up by Rs 380 crore thus making its capital adequacy ratio (CAR) 20%. In the next fiscal the bank intends to start 125 new branches across India thus taking the total branch number to 400. Also, another 550 ATMs would be launched thus raising the ATM number to 1000.
Currently, the bank is present in 14 states having 275 branches and 450 ATMs.
The bank plans to increase its rural business by entering into microfinance businesses.
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