Dhanalakshmi Bank

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Dhanalakshmi Bank was incorporated on 14 November 1927 by a group of enterprising entrepreneurs at Thrissur, the cultural capital of Kerala with a Capital of Rs.11,000/- and 7 employees. It became a Scheduled Commercial Bank in the year 1977. It has today attained national stature with 181 branches and 26 Extension Counters spread over the States of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi and West Bengal. The Bank serviced a business of over Rs. 5100 crores as on 2007-06-30 comprising deposits of Rs.3194 crores and advances of Rs.1922 crores. As at the end of June 2007, the Capital Adequacy Ratio of the Bank was 9.87% well above the mandatory requirement of 9%. The Bank made a net profit of Rs.6.05 crores for the quarter ended 30 June 2007.

The Bank is tech savvy and has deployed technology widely as an instrument for enhancing the quality of customer service. It has introduced Centralised Banking Solution (CBS) on the Flexcube Platform for extending Anywhere/Anytime banking to its clientele through multiple delivery channels. The Bank has deployed CBS in 150 branches covering around 95% of total business. The Bank has set-up a state-of-the-art DATA CENTRE in Bangalore, to keep the networked system operational 24 hours a day and 7 days a week.

The Bank lays stress on customizing services and personalizing relations. It has introduced an International Debit Card through a tie-up with M/s Visa International. As part of this overall effort, the Bank has joined CASHNET, the first independent nation-wide shared ATM network in India, the National Financial Switch (ATM network) of the IDRBT, promoted by Reserve Bank of India and Cash tree promoted by a group of public sector banks. By joining these networks, our customers are provided access to more than 23,000 ATMs in the country. The Bank has installed 67 networked ATMs thus far in centres of high banking activity.

The Bank has introduced tele-banking in 57 branches and Internet banking in 93 branches. It has also implemented centralized CMS software by locating the CMS hub at Corporate Office Thrissur enabling all CBS branches to do CMS operations.

The Bank has put in place Real Time Gross Settlement (RTGS) System to facilitate large value payments and settlements in real time on-line mode on a transaction-by-transaction basis.

The Bank has ventured into both life and non-life insurance. It is selling life insurance products of M/s. MetLife India, a renowned global player in this segment and non-life insurance products of M/s. Iffco Tokio, as their corporate agent. The Bank is also a depository participant of NSDL (National Security Depository Limited) offering Demat services through selected branches.

With a view to making available value-added services to the NRIs, the Bank has set up NRI Boutiques (Relationship Centres) at 8 locations in the State of Kerala. The Bank has also plans to open specialized NRI branches with accent on quality of service and thrust on specialisation at potential locations. As at the end of March 2007, the Bank had rupee drawing arrangements with 7 Exchange Houses in the Middle East. For fast money transfer, it has tied up with Moneygram, Wallstreet instant cash and Xpress Money with UAE exchange.

The Bank’s Corporate Office, Thrissur and Industrial Finance Branch at Kochi have been accredited with certification under ISO 9001-2000.

On the socio-economic front, the Bank is a leading player in dispensation of Micro Credit among Kerala-based Private Sector Banks. As at the end of June 2007, the outstandings under micro credit were Rs.60.63 crores. This involvement is part of the Bank’s objective to act as catalysts for the economic prosperity of the country. The Bank has recognized micro finance intervention as an effective tool for poverty alleviation and has streamlined the linkage between the Bank and Self Help Groups through 100 branches. The Priority sector advances of the Bank as at 30th June 2007 constituted 46.06% of net bank credit well above the RBI benchmark of 40%.

The Bank is managed by a Board of Directors comprising professionals drawn from various walks of life with Mr A.D. Navaneethan as the Chairman and Sri P.S.Prasad as Managing Director & CEO.