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Our Bureau

Visakhapatnam, July 31 Dhanalakshmi Bank is planning to set up 40 more branches during the current financial year, 15 of them in Andhra Pradesh, in addition to the existing 181 in the country inclusive of 13 in the State, according to Dr V.S. Somanath, Deputy General Manager.

At a press meet here on Tuesday, he said the bank had made strides in the past two years and the total business surpassed Rs 5,000 crore by March 31 this year. “We are aiming at touching, and crossing, the Rs 10,000-crore mark in the next two years,” he said. The bank could post net profit of Rs 16.14 crore during 2006-2007, he said. Priority sector lending had gone up to 46.27 per cent and the NPA had been brought down to 2.44 per cent. “We wish to bring down the NPA to less than one per cent and wipe it out altogether,” he said.

He said 150 branches of the bank were under core banking solutions, covering 95 per cent of the business. The bank had introduced several new products and in Andhra Pradesh it was concentrating on agriculture.

Mr K. Satyanarayana, Senior Manager of Vizag branch, said at present deposits in the branch were Rs 7 crore and advances Rs 13 crore.

More Stories on : Private Banks | Andhra Pradesh

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