Dena Bank expecting Rs.500 crore capital infusion


"We will receive Rs.300 crore as preferential shares and Rs.200 crore as perpetual non-cumulative preference shares (PNCPS)," Dena Bank chairman and managing director D.L. Rawal told reporters on the sidelines of an ongoing banking conclave.

The bank has requested the government to pump in another Rs.400 crore next financial year in the form of PNCPS. Rawal added: "We have already raised Rs.125 crore this fiscal."

The bank has witnessed 23 percent growth in credit and deposit in the first quarter (April-June) this fiscal on a year-on-year basis.

"We have experienced demands in agriculture, steel, cement, SME (small and medium enterprises) and housing sectors," Rawal said.
Dena Bank has a target of 20 percent deposit and credit growth this fiscal, he added.

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