Dena Bank to hike business by 27%, open new SB A/C with Rs 5 deposit

Ahmedabad, May 29 (UNI) Dena Bank has set a stiff target of raising its total business by 27 per cent from Rs 36,946-crore last financial year to Rs 50,000-cr during the current fiscal, as against 16.5 per cent the previous year.

Disclosing this to media persons here today, bank's Chairman and Managing Director P L Gairola said there is also plan to increase incremental deposits by 55 per cent, low-cost deposits by 45 per cent and introduce new products.

He said that bank has decided to open new savings bank accounts with just five rupees as deposit in rural areas. About two-third of its branches are in rural and semi-urban areas.

The bank proposes to open year 45 new branches and 245 ATMs in the country, including 33 branches and 37 ATMs in Gujarat, during the year, taking the total to 500 ATMs and 1,165 branches.

Mr Gairola, who was in Gujarat in connection with the bank's 69th foundation day (May 26), opened 15 ATMs in different parts of the state in one go today.

Dena Bank being the convener of State Level Bankers' Committee (SLBC) and lead bank in seven out 25 districts in Gujarat, it has more stake in the state.

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