Dena Bank's deposit grows to 7 pc in first half

Mumbai, Nov 17: The public sector Dena Bank is incentivising its staff to become more market-savvy which has resulted in its deposit growth of 7 per cent during the first half of the current financial year over the same period last year.

Talking to media on the sidelines of a press conference to announce the deal Dena Bank struck with Wipro for its core banking initiatives here today, bank CMD P L Gairola said ''We've adopted a two-pronged strategy to increase our deposits which include incentivising the staff to get market savvy and the introduction of the new technologies.'' He hoped that the current deal with Wipro Infotech, which is worth Rs 304 crore will help his bank in increasing its deposits to higher levels in future. Talking about the scenario prevailing in the bank about the credit, he said ''The credit growth of the bank during the H1 was 12 per cent more than the mark achieved during the same period last year. He also attributed it to the country's economy, which was growing at a rate of 8 per cent for three years in a row.

UNI