Mumbai, Feb. 16
DENA Bank is targeting a business of Rs 1 lakh crore by 2010. The bank announced this as part of its medium term vision document for 2007-2010.
As part of the strategy to achieve this target, the bank will focus on the retail and small and medium enterprises segments, said Mr M.V. Nair, Chairman and Managing Director. To meet the growing credit requirements, the bank may also explore the hybrid instruments route to raise capital in the next fiscal, he said.
In rural areas, the bank was working to upgrade rural grocery shops into `mini-malls', where farmers can buy goods and also get information about other products. It also hopes to be a one-stop shop for all retail loan products through its `Finmarts'.
The bank's Capital Adequacy Ratio as on December 31, 2005 was 9.82 per cent. By the end of this fiscal, the CAR is likely to be 10 per cent. The bank is targeting a 25 per cent growth in its loan book and NPA level of less than 3 per cent in this fiscal.