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Dena Bank expects capital infusion of Rs 1,260 crore from the Government

15 Apr 2013 Evaluate

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.

Peers
Company Name CMP
SBI 1101.50
PNB 112.95
Canara Bank 140.90
Bank Of Baroda 274.20
Union Bank Of India 177.00
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