Public sector lender Dena Bank is reportedly planning to open 65 new branches by the end of current fiscal. These new branches will be opened across urban and rural areas and in all geographies. Earlier, the bank has planned to open 150-175 branches in current fiscal, out of which 90 branches have already been opened till December 2013.
Recently, the bank had received capital infusion of Rs 700 crore from the Government of India (GOI) towards issuance and allotment of equity shares on preferential basis. Post capital infusion, the paid-up capital share capital of the bank has increased from Rs 350.05 crore to Rs 468.64 crore and GOI’s holding in the bank has increased from 55.24% to 66.57%.
Dena Bank was established in 1938 and was nationalized in July 1969. As on September 30, 2013, the bank has 1,509 branches and 770 ATMs with 57% branches in rural and semi-urban areas. More than half of the bank’s branches are in the states of Gujarat and Maharashtra.
Recently, the bank had received capital infusion of Rs 700 crore from the Government of India (GOI) towards issuance and allotment of equity shares on preferential basis. Post capital infusion, the paid-up capital share capital of the bank has increased from Rs 350.05 crore to Rs 468.64 crore and GOI’s holding in the bank has increased from 55.24% to 66.57%.
Dena Bank was established in 1938 and was nationalized in July 1969. As on September 30, 2013, the bank has 1,509 branches and 770 ATMs with 57% branches in rural and semi-urban areas. More than half of the bank’s branches are in the states of Gujarat and Maharashtra.
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