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Ms Nupur Mitra, who took over as the Chairman and Managing Director of Dena Bank today, vows to focus on SME financing.
Describing lending to small and medium businesses as “a safe bet”, Ms Mitra says this segment represents one layer above the ‘bottom of the pyramid', is very profitable and an area where there is not too much of competition.
Speaking to Business Line soon after assuming charge here today, Ms Mitra said that she was fortunate to be heading a bank that has a strong base in Gujarat and Maharashtra.
She said that Dena Bank's fundamentals were very strong. The bank's gross NPAs amount to 1.86 per cent of gross advances (the bank is yet to migrate to ‘system-generated NPA calculation). It has Tier-I capital of 9.72 per cent as of June 2011.
Ms Mitra said that the bank would not need capital infusion even next year.
Ms Mitra joined Bank of India as a Direct Recruit Officer in 1975. In the last one year and ten months, she was an Executive Director with the Indian Overseas Bank.
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