Dhanalakshmi Bank was incorporated in 1927 by group of entrepreneurs at Thrissur located in Kerala. The bank started with a seed capital of Rs.11,000 and with workforce of 7 employee.Much later in 1977, the bank was converted into Scheduled Commercial Bank.

Presently it has a pan-India network of 181 branches and 26 extension counters spread across in states like Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi and West Bengal. The Bank’s Corporate Office located at Thrissur and Industrial Finance Branch at Kochi has received ISO 9001-2000 certification.

The Bank is managed by a Board of Directors comprising professionals drawn from various walks of life with Shri.G.N.Bajpai as Chairman and Shri Amitabh Chaturvedi as the Managing Director and CEO.

In August 2010, the bank has conveyed the approval of Registrar of Companies, Kerala and Lakshadweep (RoC) for change of name of the Bank from the present 'The Dhanalakshmi Bank' to 'Dhanlaxmi Bank”

Facilities

The bank has launched Centralised Banking Solution (CBS) on the Flexcube Platform facilitating anywhere/anytime banking to its clients. CBS has been installed in all branches. The bank also has established a data centre in Bangalore, to keep the networked system operational 24x7.

Dhanalakshmi Bank has installed Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) Systems in order to avail facilities for large value payments and settlements in real time on-line mode on a transaction-by-transaction basis.

The bank has a tie up with Visa International for International Debit Card. As part of this overall effort, the Bank has joined CASHNET, the first independent nation-wide shared ATM network in India, the National Financial Switch (ATM network) of the IDRBT, promoted by Reserve Bank of India and Cash Tree promoted by a group of public sector banks. Due to this the bank has access to 25,000 ATMs in the country.

It is among those banks that offer free cash withdrawal facilities for its ATM debit card holders at other Bank ATMs.

Dhanalakshmi Bank has also forayed into both life and non-life insurance segment. For this it has tie up with MetLife India for life insurance and for non-life it has tie up with Oriental Insurance Company.

The bank also markets mutual fund products and for this it has tie up with SBI Mutual Fund, Birla Sunlife Mutual Fund and Principal PNB Asset Management Company.

In February 2010, the bank entered into a MoU with Destimoney Financial Services, for extending online trading and investment services to its customers and latter on invested Rs 13 crore in Destimoney Securities forming 15% of the equity capital of the company.

In March 2010, the bank marked its foray into the retail assets business with the launch of two credit cards -- platinum and gold.

The bank entered into an agreement in June 2010 with HDFC Mutual Fund for distributing the latter's financial products through its branches across the country.

In December 2010, Dhanlaxmi Bank has entered into a pact with Qatar's largest bank -- Doha Bank -- for online transfer of funds.

In January 2011, it ventured into the gift card space, which can be used at over 4.5 lakh merchant outlets. The gift card is a rupee-denominated, pre-paid, non-reloadable card.

Products and services

Personal Banking-Under this bank offers wide range of personal banking products and services such as deposit, saving, loans, internet banking, mobile banking, demat services, credit card, debit card, etc.

NRI banking- Dhanalakshmi Bank also caters its banking products and services to NRI customers such as deposit, car loans, remittances, investment schemes, insurance are amongst others.

Corporate banking- It provides a range of products and services to corporates.

Priority and SME- It also caters its products and services to priority and SME segment such as providing various kinds of products to meet their various business requirements. This involvement is part of the Bank’s objective to act as catalysts for the economic prosperity of the country. The Bank has recognized micro finance intervention as an effective tool for poverty alleviation and has streamlined the linkage between the Bank and Self Help Groups through 100 branches.

Milestones:

Dhanlaxmi Bank Ltd.

Suryoday Small Finance Bank Ltd.

Fino Payments Bank Ltd.

DCB Bank Ltd.

The South Indian Bank Ltd.

CSB Bank Ltd.

The Karnataka Bank Ltd.

Equitas Small Finance Bank Ltd.

Ujjivan Small Finance Bank Ltd.

City Union Bank Ltd.

The Jammu & Kashmir Bank Ltd.

Karur Vysya Bank Ltd.

RBL Bank Ltd.

The Federal Bank Ltd.

Market Cap	757 Cr	ROE	6.3%
P/E Ratio(TTM)	6.8	EPS(TTM)	0.0
P/B Ratio	0.9	Dividend Yield	0.0%
Industry P/E	21.3	Book Value	34.1
		Face Value	10.0

Fundamentals