Dena Bank expects capital infusion of Rs 600 cr to fuel growth
Date: 27-07-2010Dena Bank expects a capital infusion of Rs 600 crore from the government in the current fiscal to fuel its business growth. The bank needs a total of Rs 1,300 crore over the next three years. The remaining Rs 700 crore is likely to be received in two tranches of Rs 400 crore and Rs 300 crore each in the next two fiscals.
The bank is confident of achieving 22% credit growth and 20% deposit growth in the current fiscal on the back of a strong revival in credit demand.
Dena Bank has registered a 20.7% rise in its net profit during Q1FY11 to Rs 138.8 crore, against Rs 115 crore during the same period last year. crackcrack