Kolkata's Dena Bank seeks Rs 900 cr from govt

Dena Bank has sought Rs 900 crore from the government for 2009-10 and 2010-11 for Tier I capital infusion in the bank, Dena Bank CMD D L Rawal, said.     

Rawal explained during the current year the bank had sought a total of Rs 500 crore, out of which, Rs 300 crore were sought as preference shares and Rs 200 crore as perpetual non-cumulative preference shares.     

The bank had sought another Rs 400 crore as preference shares for 2010-11, Rawal told reporters on the sidelines of FICCI Banking Conclave 2009 here today.     

The incremental capital adequacy ratio of the bank stood at 12.07 per cent.     

To a query, he said for the full year the bank is aiming for deposit and advance growth of 20 per cent with total business targeted at Rs 85,000 crore.     

In the first quarter of 2009-10, the year-on-year credit and deposit growth were 23 per cent.     

Rawal said the net interest margin (NIM) had fallen to 2.50 per cent from 2.91 per cent registered at the end of March 2009.     

The expected NIM for the full fiscal was 2.75 per cent, he said.