Dena Bank finalises Wipro as its partners for CBS

Mumbai, Sep 16 (UNI) Dena Bank has finalised Wipro as its partners for implementing the core banking solutions (CBS) in its branches.

Talking to the media on the sidelines of launching the rupee drawing arrangement with UAE Exchange House in UAE here today, the bank Chairman and Managing Director P L Gairola said, ''Initially the CBS will be implemented in 10 branches of the bank as a pilot project and soon it would be implemented to all the branches of the bank. The deal is worth Rs 300 crore.

Though the main server for the CBS facility would function from Mumbai, the bank would set up the disaster recovery (DR) centre for the same in either Hyderabad or Bangalore, he hinted. The letter of agreement in this connection was issued to Wipro last week only.

Hopefully 90 per cent of the bank's branches would be connected through CBS facility by the year-end, he added.

The MD and CEO of UAE Exchange Dr B R Shetty was also present on the occasion.

Talking about the Vision 2020 document as prepared by the bank, he said that the target is to increase the size of the balancesheet up to Rs 100,000 crore by 2010.

Besides, the bank has appointed to the consulting firm, PricewaterhouseCooper (PWC) for due diligence of sale of its NPAs (non performing assets). The bank was able to recover NPAs amounting to Rs 77 crore during the last year and had its plans to increase the figure more than Rs 250 crore during the current fiscal, he said.

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