Grameena bank to open more branches

Deccan Grameena Bank (DGB), sponsored by State Bank of Hyderabad, is planning to add 10 branches this year to its existing network of 166 branches spread across the four districts of Adilabad, Karimnagar, Nizamabad and Ranga Reddy. DGB would also be entering the securities business apart from computerising all its branches.

The bank has been concentrating on securing non-interest income by undertaking activities like remittances business and bank guarantees.

Consequently, the bank's gross profit grew 40 per cent during 2006-07 to Rs 24.53 crore. Its business too increased by 23.6 per cent and crossed the Rs 2,000-crore mark for the first time, DGB chairman, SV Hanumantha Rao, told the media.