Kerala based Dhanalakshmi Bank Ltd has received
RBI approval to raise FIIs and NRIs percentage holding
in the bank to 49 per cent and 24 per cent respectively.
The Bank has informed the Bombay Stock Exchange
that RBI has not objected to the percentage holding
from 24 per cent and 10 per cent to 49 per cent
and 24 per cent respectively.
This has also been approved by the shareholders, the bank said.
The Thrissur headquartered bank was incorporated in 1927 by a
group of entrepreneurs with a capital of Rs 11,000 and
seven employees. It subsequently became a scheduled
commercial bank in 1977 and presently provides banking
products and services to both resident and Non Resident
Indians through its network of 250 branches and 78 ATMs.
The bank also plans to add a total of 66 branches and
380 ATMs across the country by this year end, the release said.
The bank has a total networth of over Rs 400 crore, deposits
worth Rs 4,969 crore and advances worth Rs 3,245 crore
as of March 2009. Its profit was Rs 57.45 crore in the last fiscal.
On the socio-economic front, the bank is a leading player in
dispensing microcredit among Kerala based banks, both
public and private.
At March end this year, it had an
outstanding of Rs 124.40 crore under micro credit, the release said.
