PSU lender Dena Bank is expecting to get capital infusion of Rs 1,260 crore from the government in two tranches. The bank has set a target to grow by 23%-24% in 2013-14. It expects 25% growth in credit and 22% increase in advances in the current fiscal. The Mumbai-headquartered bank’s capital adequacy ratio (CAR) stood at 11.47 per cent with tier-1 capital of 7.61 per cent. However, in the September quarter its CAR was 12.05 with the tier-1 capital of 8.1 per cent.
Meanwhile, the bank is planning to open 150-175 branches during the current fiscal. At present, it has 1,450 branches across the country and most of them are Gujarat and Maharashtra.
