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Thrissur-based Dhanlaxmi Bank has received the green signal from the Reserve Bank of India to raise Rs 1,000 crore as capital in two phases in the next four months.
In the first phase Rs 500 crore will be raised from private investors by May 15. The remaining Rs 500 crore will be raised through GDR and eligible qualified institutional investors. Detailed discussions are progressing in this regard, Mr Amitabh Chaturvedi, Managing Director, said.
About 8-9 private investors have already evinced interest. A couple of firms from the US and the UK have also shown interests in investing Dhanlaxmi Bank, he said.
Business growth
Dhanlaxmi Bank has clocked a business growth of nearly 80 per cent during the last one year and the total business will cross Rs 20,000 crore. The bank is projecting a total business of Rs 32,000 crore in 2011-12. The branch network will increase to 400 from 275 by March 2012 and the ATM network to 1,000 from 450.
The share of current account, savings account comprises 22 per cent of the bank's total deposits.
Mr Chaturvedi said that the bank had recruited nearly 2,200 people during the last two years. The bank plans to recruit another 400 in the next one year. The average bank interest rate has gone up by 2-2.5 per cent during the last one year following the RBI hiking the repo and reverse repo rates to contain inflation.
In the case of micro credit disbursement, Dhanlaxmi Bank is amongst the top three banks in Kerala. The bank has no NPAs (non-performing assets) in the micro credit sector, Mr P. J. Jayakumar, Executive Director, said.
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