NEWS & ADVICE : SAVINGS ACCOUNTS
Dena Bank planning to expand its business and banking network
By Vaibhav Aggarwal
Jun 20, 2014
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Public sector lending bank- Dena Bank is focusing for loans up to Rs 500 crore to the Small and Medium Enterprises (SME) segment in Uttar Pradesh in the current fiscal year. In order to make the loan transactions easier and smoother bank has planned to set up specialised NRI Branches, Retail Processing Hubs and SME Processing Centre across the country.

The bank is targeting to enhance its business and grow by 20% from its business size of about Rs 1,89,000 crore last fiscal. At present bank is having total number of 1,633 branches, bank is planning to launch 300-400 more. Bank is making all the measures to expand its banking services. Bank has already established on-site ATMs in many branches and is further thinking to come up with 200 e-lobbies across India in addition to Cash Management Services.

The Bank has procured 2,000 Micro ATMs to equip Business Correspondents engaged in rural areas. Bank also reported that the bank is focusing on small advances to the agricultural and SME segments that will assist them in improving the lending portfolio and credit ratio.


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