Public sector undertaking Dena Bank hopes for a capital infusion of Rs 600-crore by the Government this financial year. The bank had originally sought Rs 1,260 crore from the Government, and “we expect at least 50 per cent of that this year,” said Ashwani Kumar, Chairman and Managing Director. Talking to the media here today, he said Dena Bank plans to expand its network by around opening 150 new branches and around 560 ATMs (automatic teller machines) during the current financial year.
On the banks performance, Kumar said it has been growing 23-24 per cent year-on-year, and the total business (deposits and advances) is likely to go up in excess of over Rs 1 lakh crore for 2012-13. “Our target is to touch Rs 4 lakh crore in the next five years.” Admitting that there will be pressure on net interest margin this year, he said the bank has been witnessing growth in the retail segment, particularly in the real estate and automobile sectors, which will drive the business growth. According to him, the infrastructure sector is a major challenge for the bank, to which it has around 20 per cent exposure.