Ramesh Singh, Executive Director of Dena Bank, said the bank envisioned a sustainable growth in auto loan segment with this tie-up and recent introduction of dealers pay out scheme.
Central Bank of India has one of the highest exposures to the consumer durables and oil company at Rs 2,700 crore.
The net interest income declined 28 percent at Rs 450.1 crore against Rs 625.1 crore.
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Rajat Bose of rajatbose.com is of the view that one may sell Dena Bank.
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While leaving the repo rate intact, the Reserve Bank said it will take steps to deal with the mounting problem of bad loans in the banking sector and try to keep inflation in check.
Government official told CNBC-TV18 that the finance ministry has allocated around Rs 8,000 crore in last tranche of bank recapitalisation for current financial year.
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Under the tie-up the bank will distribute customised Apollo Munich Health insurance and personal accident policies to the bank's 20 million customers nationwide, a release issued here said.
Dena Bank Chairman and Managing Director Ashwani Kumar also said he did not foresee any further rate cuts.
"There was a report quoting Dena Bank chairman and managing director which stated about some merger talks with Union Bank. The fact is there is nothing of that sort even remotely," Union Bank chairman Arun Tiwari said.
In an interview to CNBC-TV18 SP Tulsian, sptulsian.com spoke on stocks like Triveni Engineering, SBI, Bosch, Hindustan Zinc etc.
State-run Dena Bank today reported a profit of Rs 35.3 crore for the third quarter ended December on lower provisioning for bad loans.
Adhering to the re-capitalisation target of Rs 10,000 crore along with a commitment to do more, focus on public spending in absence of private investments and efforts to help in NPA fight today led bankers to welcome the Budget.
Asked about his wishlist for the Budget - to be unveiled on February 1 - Ashwani Kumar, Chairman and Managing Director, Dena Bank told PTI, "We want more tax concessions for customers and shopkeepers who go digital. The incentives can come in the form of income tax, service tax".
State-run Dena Bank today said its board has approved raising of share capital by up to Rs 360 crore through issue of equity shares.
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Taking a cue from State Bank of India, other lenders including India‘s largest private sector lender ICICI Bank and state-owned Oriental Bank of Commerce and Andhra Bank, have announced cuts in their marginal cost R
The bank has reduced marginal cost of funds based lending rate (MCLR) by 0.7 percent to 8.20 percent for 1-year tenure, ICICI Bank said in a statement.
Banks are cutting lending rates after spurt in deposits following demonetisation of old high denomination currency notes of Rs 500/1,000.
Maharashtra Chief Minister Devendra Fadnavis today said lowering of interest rate by banks was a positive impact of demonetisation which will boost economy in a big way.