Dhanalakshmi bank in tie-up talks
10 July 1999
need to increase the capital base has forced the Trissur-based
Dhanalakshmi Bank to think about entering into tie-ups
or strategic alliances. The bank is holding talks with
financial players such as foreign banks, private banks
and mutual funds.
By 2001, Dhanalakshmi Bank is planning to augment its capital base to Rs.100 crore,
according to T M Venkatraman, chairman of the bank. He added that there was a positive
response from the financial players and that the bank would have no reservations on the
nature of fresh capital infusion.
If the current move falls through, the bank will issue shares on rights or private
placement basis, though this will be kept as the last option to expanding the Tier II
Bank plans to increase profits by reducing cost of deposits
through treasury management, increase in income from fee-based
activities and foreign exchange business.
The bank recently
got the Reserve Bank nod to ahead with its restructuring
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