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Dena Bank plans to expand its presence overseas
By Neelima Shankar
Jun 18, 2013
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Public sector lender, Dena Bank has laid an ambition to expand its presence overseas, Chairman and Managing Director, Mr. Ashwani Kumar said.

"We have already got the approval from the Reserve Bank of India for opening a representative office in the UK. The permission of the Finance Ministry is awaited", Mr. Kumar said.

The bank is also chalking out plan to open its branches in the United States and African countries, he added.

Mr. Kumar further added that the bank plans to open a full-fledged branch in the UK, which would be through the subsidiary route.

Mr. Kumar talking about its presence in India said the bank would open nearly 200 branches during the current financial year. Last fiscal, it opened 122 branches across the country.

Mr. Kumar said the bank had requested the government for capital infusion of Rs 1,260 crore to boost the Tier-I capital.

During the current financial year, the bank was expecting 16 per cent rise in deposits and 16 per cent increase in advances.


 


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