Dena Bank was established on 26th May,
1938 and it became one of the few banks to
receive loan for technological upgradation
and training from World Bank.
During Q1FY11, Total Deposits is up by 25%
to Rs 53311 crore. CASA deposits grew by
27% to Rs 19026 crore. Advances increased
by 34% to Rs 37884 crore.
Dena Bank Announces Base Rate at 8.25%.
There are 1237 branches, 13 extension
counters and 421 ATMs. It has opened 14
new branches in Q1. It is targeting 650
ATMs by the end of March 2011.
Dena Bank is expecting to bring down its
Gross NPA to Rs 750 crore by end of
September 2010 and targeting a Gross NPA
level of Rs 700 crore by March 2011.
The NIM of the bank is 2.42% in Q1 FY2011,
from 2.8% in 4QFY2010.
Net Income and PAT of the bank are
expected to grow at CAGR of 14.77% &
20.63% over FY09 to FY12E.
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