June 22, 2011 / 13:03 IST
Private lender Dhanlaxmi Bank is eyeing forays into new segments to boost its non-interest income at a time when surging interest rates makes it difficult to protect margins, its chief financial officer told Reuters.
The lender is looking to enter into retail gold sales segment and forex cards in FY12 to boost profitability.
"Gold has a good amount of growth potential. More and more demand is flowing into it as gold is considered to be a safe haven. I don't see prices falling and volumes keep on increasing," Bipin Kabra said in an interview on Tuesday.
"We are more Kerala-based, which is a big gold market. I don't have to sell the brand of Dhanlaxmi so we'll be looking at deeper penetration there."
Dhanlaxmi Bank, which has about 145 branches in Kerala, aims to become one of the leading players in this segment in the next couple of years, Kabra said.
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