Announcing the revised rates, Mr. Bipin Kabra, Chief Financial Officer, Dhanlaxmi Bank said: “The hike in our base rate and BLPR reflects tight monetary conditions and is in line with market trends.”
The change in rate will be applicable to all new loans and existing floating rate loans. In the case of existing fixed rate loans, the change in base rate will be applicable at the reset date. Existing borrowers, whose loans are linked to BPLR, have the option to switch to the base rate system before the expiry of existing contracts, on mutually agreed terms. All the new loans sanctioned and existing loans under BPLR which comes for review will be linked to base rate. In May 2011, the bank had revised its base rate and BPLR by 75 basis points respectively to 10% and 19%.About Dhanlaxmi Bank:
Dhanlaxmi Bank is an 84-year old bank, being incorporated in 1927 at Thrissur, Kerala. In the last three years, it has transformed into a well diversified bank with a pan-India presence from being an SME focused South India based bank. With a network of 275 branches and 460 ATMs covering 160 centers across 14 states, the bank services a broad customer base of 1.6 million. The bank provides a suite of banking products and services to its customers across Retail Banking, Wholesale Banking, Microfinance and Agricultural Lending and Small and Medium Enterprises Group.
During the last three years, Dhanlaxmi Bank’s total deposits increased from Rs 3,608 crore as on March 31, 2008 to Rs. 12,530 crore as on March 31, 2011, advances rose from Rs. 2,102 crore as on March 31, 2008 to Rs. 9,065 crore as on March 31, 2011. The bank had a total business of Rs. 21,595 crore, as on March 31, 2011 with total asset base at Rs. 14,268 crore. The shares of the bank are listed on the Bombay Stock Exchange Limited, the National Stock Exchange of India Limited and the Cochin Stock Exchange. For additional information please log on to www.dhanbank.comFor media queries please contact:Ravindra Kanchan
Associate Vice-President, Corporate Communications Dhanlaxmi Bank Mobile: +91 - 96198 58132Email: ravindra.kanchan@dhanbank.co.in