Introduction of Dena Bank

TYPE TRADED AS INDUSTRY FOUNDED HEADQUATERS KEY PEOPLE REVENUE NET INCOME WEBSITE PUBLIC BSE:532121 FINANCIAL COMMERCIAL BANKS 1938 MUMBAI,INDIA SHRI ASHWANI KUMAR(CHAIRMEN AND MD) RS 55673.7MILLION (US$1.0BILLION) 2010-2011 RS6116.3MILLION(US$110MILLION) 2009-2010 http:/www.denabank.com

History of Dena Bank

Dena Bank was founded on 26th May, 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd It became a Public Ltd. Company in December 1939 and later the name was changed to Dena Bank Ltd. In July 1969 Dena Bank Ltd. along with 13 other major banks was nationalized and is now a Public Sector Bank constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. Under the provisions of the Banking Regulations Act 1949, in addition to the business of banking, the Bank can undertake other business as specified in Section 6 of the Banking Regulations Act, 1949.

Milestones
One among six Public Sector Banks selected by the World Bank for sanctioning a loan of Rs.72.3 crores for augmentation of Tier-II Capital under Financial Sector Developmental project in the year 1995. One among the few Banks to receive the World Bank loan for technological upgradation and training. Launched a Bond Issue of Rs.92.13 crores in November 1996. Maiden Public Issue of Rs.180 Crores in November 1996. Introduced Tele banking facility of selected metropolitan centers. Dena Bank has been the first Bank to introduce: Minor Savings Scheme. Credit card in rural India known as "DENA KRISHI SAKH PATRA" (DKSP). Drive-in ATM counter of Juhu, Mumbai. Smart card at selected branches in Mumbai.
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Customer rating system for rating the Bank Services.

Mission
DENA BANK will provide its Customers - premier financial services of great value, Staff - positive work environment and opportunity for growth and achievement, Shareholders - superior financial returns, Community - economic growth

Vision
DENA BANK will emerge as the most preferred Bank of customer choice in its area of operations, by its reputation and performance

Logo

The logo of Dena Bank depicts Goddess Lakshmi, the Goddess of Wealth, according to Hindu mythology.

It was the desire of the founding fathers of the Bank that the Bank should be a symbol of prosperity for all its clients, and the logo represents this promise. The contemporary 'D' in the logo reflects the dynamism, dedication and the drive towards customer satisfaction growth of dena bank

MUMBAI: Despite an impressive financial performance in the last few quarters , Dena Bank's stock has underperformed the ET bankex. The depressed stock movement can be attributed to the recent market turmoil , which saw most smaller bank scrips fall rather sharply compared with their bigger counterparts. The government's recent decision to infuse fresh capital would help Dena Bank grow its credit base, which should help it sustain the current growth momentum in its earnings in the near term. The government recently announced that it will infuse Rs 539 crore of equity capital into Dena Bank. This should help the bank restore its Tier-I capital adequacy ratio to the mandatory 8% from 7.2% in FY10. In FY10, its loan assets grew faster than its equity base, thereby hampering the future growth
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potential. Its leverage shot up 22 times by March 2010, which necessitated an expansion of the equity base. The government's initiative to infuse fresh capital will enable the bank to contain its leverage, without affecting its loan book growth. The growth in Dena Bank's advances and deposits was better than its peers during the December 2010 quarter on a year-on-year basis. The Net Interest Margin (NIM) of the bank improved by 80 bps year-on-year to 3.3% in the quarter. This is better than the average NIM of 3% for other banks. Dena Bank has a high current and savings account ratio (CASA) and is, therefore, well placed to deal with the rising interest rate regime. Further, it has maintained a high asset quality over the last 10 quarters . In the last four quarters, it has trimmed its assets by aggressively writing off bad debts from its balance sheet. As a result, its gross non-performing assets have fallen from 2.5 % to 1.9% At a priceto-book value of 0.9, the bank's stock trades cheaply, given the average P/B of 1.5 for its peers. The return on asset (ROA) of the bank is 1%, which is in line with most other Indian banks. The only concern for the bank is the relatively lower capital base and its inability to raise capital from other sources. This is expected to improve given the recent capital infusion and the budget announcement of an additional infusion of Rs 6,000 crore in public sector banks in FY 12.

Discription of Dena Bank - Kumbharia Branch

Bank Name : Dena Bank

Branch Name : Kumbharia State District City IFSC Code : Gujarat : Surat : Kumbharia : BKDN0230255

MICR Code : 395018018 About Kumbharia Branch Kumbharia Branch is establishd on 1969 and is considered as one of the most important branch of Kumbharia, Gujarat and is generally the most preferred branch from the customer's point of view. The Kumbharia branch is referred to as the face of the bank since the customer can visit personally and meet and interact with the Kumbharia branch officials and avail the various services offered by the bank.There is genral banking done in these branch. Banksindia.net is a unique website that helps people find Bank Branches in India. A place where you can very easily find Ifsc Code, Micr Code.Contact details for Kumbharia branch are provided in the page where we list Kumbharia Branch details. Dena Bank - Kumbharia Address
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NEAR S.T.STAND, CHORYASI, KUMBHARIA, SURAT Kumbharia Gujarat India - 394210 Dena Bank - Kumbharia Contact Info 0261-2649616 0261-2649616, KUMBHA@DENABANK.CO.IN No. of employees working in dena bank kumharia branch are: There are six employees working in these branch they are as follows:

1. D.M Rakhasiya 2.Miss Pallavi Morya 3.Nerav Pawar 4.Bikesh Yadav 5.Dinesh Yashwandan 6.Rajesh Mistry Organisatin chart: 1.Retial Banking(i.e where individual accounts are opend here) 2.Corporate Banking(i.e where companys,partnership firms, proprietorship firms etc)

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