The Hindu Business Line : Dhanalakshmi Bank to focus on NRI deposits

THE Thrissur-based Dhanalakshmi Bank will be focusing on mopping up more NRI deposits during the course of the current year. NRI deposits now offer one of the cheapest sources of funds and the bank would be exploring new avenues to increase its share.

Speaking to Business Line, Mr T.R. Madhavan, Managing Director and CEO, said that the bank would also be implementing core-banking solutions in its branches and install 50 ATMs in the next 4-5 months.

By the end of the current fiscal, the bank proposes to take the number of ATMs to 100.

Now that most of the treasury profits have been booked in this declining interest rate regime, the bank proposed to rebuild its asset base through better credit disbursal in gold loans and also through micro-credit.

To facilitate further credit growth, the bank has increased its capital adequacy level from 10.65 per cent to 12.30 per cent by bringing in an additional Rs 35 crore through Tier II capital.

The bank has identified 3,200 self-help groups and has already extended credit to 900 of them.

Currently, the bank has drawing arrangements with two exchange houses in the Gulf.By the end of the year, it planned to get into drawing arrangements with 10 such exchange houses.

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