The Hindu Business Line : Dena Bank looks to tie up with SBI for boosting credit card biz

The Chairman and Managing Director of Dena Bank, Mr P.L. Gairola, who was in Goa on a two-day visit to attend a managers’ review meet, told presspersons here that the bank did not have a strong credit card business despite being in it for over 10 years.

“We have not been very aggressive in this business. Our credit card base has been around 10,000 customers and we are confident that with the tie-up with the SBI card, we will get a very broad card base,” Mr Gairola said.

The move is to get the SBI to take the process of card business as well as credit risk. The formula of revenue sharing would be settled by negotiations, the CMD said.

Taking stock of the bank’s branch and ATM network, Mr Gairola said that the bank, with 1,165 branches, intends to set up 26 branches during the year, while it proposes to increase its ATM network from 325 to 475.

The bank has brought 300 of its main branches under core banking through an integrated computer network, which covers 64 per cent of its core business. By December 2009, it plans to raise it to 900 branches, which would mean almost 94 per cent of its core business would be covered under the centralised computer network across the country.

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