Dhanlaxmi Bank appoints Manish Jaiswal as Head SME Business

Mid-size private sector Dhanlaxmi Bank has appointed Manish Jaiswal as its business head for small and medium enterprises (SME) group.

Announcing the appointment, Amitabh Chaturvedi, managing director and chief executive officer of the bank said, "as bankers we see a lot of opportunities in the SME segment in the country.''
The Thrissur headquartered 84-year old Dhanlaxmi Bank has 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, a press release said. 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. Its loan book as on March 31 this year showed that it had 53% lending in non-south Indian states from 13% as on March 31, 2008. During the same period, deposits from non-South Indian states also increased to 45% from a mere 6% earlier.
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, the release said.