Dhanlaxmi Bank

Dhanlaxmi Bank Ltd

Type	Public (BSE: 532180, NSE: DHANBANK)
Industry	Banking Financial services Insurance
Founded	1927
Headquarters	Dhanlaxmi Bank Ltd, Dhanalakshmi Buildings, Naickanal Thrissur, Kerala, India
Key people	GN Bajpai, Amitabh Chaturvedi
Products	Investment Banking Commercial Banking Retail Banking Private Banking Mortgage Credit Cards
Website	Dhanbank.com

Dhanlaxmi Bank Ltd (BSE: 532180, NSE: DHANBANK) is an old private sector bank headquartered in Thrissur city, Kerala, the "Cultural Capital of Kerala". It is headed by Amitabh Chaturvedi, Managing Director and CEO of the bank. The bank was focusing mostly on Southern states like Karnataka, Tamil Nadu, Andhra Pradesh and Kerala but it is looking for a pan India presence since the last few years. In 2009, the bank started a brand transformation initiative which included the change of the logo and related branding treatment across all its customer touch-points.

History

Dhanalakshmi Bank Ltd was incorporated on 14th November 1927 by a group of enterprising entrepreneurs at Thrissur city, 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 275 branches and 456 ATMs spread over the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi, West Bengal, Madhya Pradesh, Punjab, Uttar Pradesh, Rajastan, Chandigarh, Goa, and Hariyana. Current employee strength is around 4400

Business Overview

Headquarters of Dhanalakshmi Bank in Thrissur city

Dhanlaxmi Bank has reported a 11.8 per cent rise in net profit at Rs. 26.06 crore in the 12 months ended March 31, 2011, against Rs.23.30 crore, a growth of 11.8 per cent. Total income rose to Rs.1,053.19 crore fromt Rs.625.56 crore. The financial year 2011 was a year for consolidation for the Bank. On all parameters, including important ones such as business growth, net interest margin and NPA control, it was a good year. Net interest margin for the year was around 2.7 per cent.The bank's loan-book witnessed a sharp growth largely on account of a greater thrust on the retail segment and diversification across regions, the release said. The bank's total income increased from Rs 182.40 crore in the quarter ended March 31, 2010 to Rs. 342.2 crore, recording a growth of 87.6 per cent. Non-interest income rose from Rs. 31.9 crore to Rs. 46.1 crore as a result of a focused thrust on fee-based business. The bank’s business growth rates during the year far exceeded that of the banking industry.

Dhanlaxmi Bank 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 at all its branches for extending anywhere/anytime/anyhow banking to its clientele through multiple delivery channels. The bank has set-up a state-of-the-art Data Centre in Bangalore, to keep the networked system operational round the clock. A Disaster Recovery Centre is also operational at Thrissur for meeting various contingencies.

Name change

The bank has also changed its name from Dhanalakshmi Bank to ‘Dhanlaxmi’ Bank which will have a new corporate identity retaining the core values of trust and heritage built by the bank. FITCH, a leading international branding and design consultancy had designed the new identity for the bank.

Partnerships

The Dhanlaxmi Bank has an agreement with Bajaj Alliance Insurance Company Ltd, as their corporate agent. The bank is also a depository participant of NSDL (National Security Depository Limited) offering Demat services through select branches. Bank is offering Online trading in association with Destimoney securities. It has partnered AGS Infotech for installation of ATMs. It offers VISA branded debit and credit cards to customers.

Credit cards

In March, 2010, the bank launched Dhanlaxmi Bank Platinum and Gold Credit cards.^[1] The bank for the first time in India is introducing a ‘Pay by Transaction’ billing mode for credit cards. Under this, instead of a monthly billing cycle, the interest-free credit period is considered for individual transactions from the day of purchase. A customer thus enjoys a 45-day interest-free credit period on each purchase and does not need to time the purchase based on the billing cycle.And the service provider for credit card business is Insolutions Global Pvt.Ltd(ISG),ISG’s range of end to end solutions span debit card, credit card, web designing, issuance management, satellite solutions, acquiring management, payment & settlement management. ISG commenced operations in 1988, is a pioneer in the payment card industry in India. The company, headquarters in Mumbai, has become a commander & preferred solutions provider for bankers in India and Overseas.

ISG influence its domain knowledge in payment processing & skilled software development talent to specific compliance and other requirements of various types of organizations including Public Sector Banks, Private Banks, Foreign Banks, International Banks, Cooperative Banks and Non-Banking Finance Companies in world wide. ISG takes pride in building strategic long term relationships. ^[2]

References

1. ^ "Dhanlaxmi Bank launches credit cards". The Business Standard. http://www.business-standard.com/india/storypage.php?autono=389390. Retrieved 2010-03-28. 
2. ^ "Dhanlaxmi Bank launches credit cards". The Business Standard. http://www.business-standard.com/india/storypage.php?autono=389390. Retrieved 2010-03-28. 

External links

• Official website