New Delhi, April 14: Public sector lender Dena Bank is targeting a growth rate of 25 per cent in its total business during the current financial year, apart from 150 to 170 new branches, the bank's CMD Ashwani Kumar said on Saturday.
“We are planning to have a growth of about 23-24 per cent during this financial year. Segment wise it should be around 25 per cent in credit and 23 per cent in advances,” he said.
On capital infusion, Kumar said, “We have asked for Rs 1,260 crore in 2012-13 and 2013-14. At least they should give 50 per cent this fiscal and rest in next fiscal.”
He said that the net interest margin (NIM) was expected to be under pressure during the current financial year also,
The Bank's exposure in retail portfolio was Rs 7,662 crore while on educational loan it was Rs 330 crore and the Capital Adequacy Ratio was 11.47 per cent, he said.
On long term projections, he said that the bank crossed a total business (deposits and advances) of Rs 1,50,000 crore last fiscal, and hopes to touch a figure of Rs.400,000 by 2017.
“We expect at least fifty percent of that this fiscal. The bank hopes to grow its total business by 24 percent this fiscal,” Kumar said. He also hinted at Rs 600 crore fresh capital infusion this year and added the bank had asked the government for additional capital infusion of around Rs.1,260 crore. On the bank's performance for the year ending March 31, 2013, Kumar said the numbers are being compiled and it is difficult to disclose the details.
