Dhanlaxmi Bank Share Price

Dhanalakshmi Bank Limited was incorporated on 14th November 1927 by a group of enterprising entrepreneurs at Thrissur, the cultural capital of Kerala with a Capital of Rs.11,000/ and had only 7 employees. It became a Scheduled Commercial Bank in the year 1977. It has today attained national stature with 181 branches and 26 Extension Counters spread over the States of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi and West Bengal. Between 1927 to 1937, its services were localised in Thrissur. In 1937, it extended its service to Ernakulam and Palghat by opening branches there.By 1947, DBLs deposits generated stood at Rs 31 lac. In 1962, it took over three banks Lakshmi Prasad Bank, Radhakrishna Bank and Parli Bank. Subsequently, it further expanded its network throughout Kerala, and then in Tamilnadu, Andhra Pradesh and Karnataka in 1978. With this, DBLs operations covered the entire southern India apart from its strong presence in Kerala.The period covering 198590 saw the bank opening up its first branch outside southern India, in Bombay. It started dealing in other segments of banking such as bills discounting, letter of credit, etc. Two prominent religious trusts Sabarimala and Guruvayoor Devasom Board, are among its host of clients. In 1993, the bank obtained restricted foreign exchange licence, to maintain rupee accounts of nonresidents. DBL also ventured into new areas such as consumer banking, corporate banking and merchant banking.In Mar.96, DBL came out with a public issue of 80 lac equity shares of Rs 10 each for cash at a premium of Rs 40 per share aggregating Rs 40 cr, to strengthen the capital base for meeting statutory capital adequacy norms and to obtain the listing of shares on the stock exchanges. There was a restructure of the capital of the bank during 200001, by conversion of partly paid shares to fully paid shares on a prorata basis.This has resulted in the reduction of subscribed and paid up capital of the bank from Rs.14.66 crores to Rs.13.74 crores. The reduction of Rs.0.92 crores representing premium was transferred to Share Premium Account.To Comply with the stipulation of RBI to increase the networth to a minimum of Rs.100 crores,DBL went for a Right Issue of capital to the tune of Rs.27,47,50,500 (1,83,16,700 equity shares of Rs.10/ at a premium of Rs.5). The ratio for the rights issue were 4 equity shares for every 3 shares held and the issue were oversubscribed.The Bank is techno savvy and has deployed technology widely as an instrument for enhancing the quality of customer service. It has introduced Centralised Banking Solution (CBS) on the Flexcube Platform for extending Anywhere/Anytime banking to its clientele through multiple delivery channels. The Bank has deployed CBS in 150 branches covering nearly 95% of total business. The Bank has setup a stateoftheart Data Centre in Bangalore, to keep the networked system operational 24 hours a day and 7 days a week. The Bank lays stress on customizing services and personalizing relations. It has introduced in November 2005 an International Debit Card with tieup with M/s Visa International. In another customerfriendly move, the Bank has joined CASHNET, the first independent nationwide shared ATM network in India and the National Financial Switch (ATM network) of the IDRBT, promoted by Reserve Bank of India. By joining Cashnet and NFS, our customers have been provided access to more than 14,000 ATMs in the country. The Bank has installed 63 networked ATMs thus far at centres of high banking activity. The Bank has introduced telebanking in 50 branches and Internet banking in 84 branches. It has also put in place a Cash Management System (CMS) that provides speedier cheque collection through 59 branches. The Bank has put in place Real Time Gross Settlement (RTGS) System to facilitate large value interbank payments and settlements in real time online mode on a transactionbytransaction basis. It is in the process of extending RTGS to customer transactions. The Bank has ventured into both life and nonlife insurance. It is selling life insurance products of M/s. MetLife India, a renowned global player in this segment and nonlife insurance products of M/s. Iffco Tokio, as their corporate agent. The Bank is also a depository participant of NSDL (National Security Depository Limited) offering Demat services through selected branches. With a view to making available valueadded services to the NRIs, the Bank has set up NRI Boutiques (Relationship Centres) at 8 locations in the State of Kerala. The Bank has also plans to open specialized NRI branches with accent on quality of service and thrust on specialisation at potential locations. As at the end of March 2006, the Bank had rupee drawing arrangements with 7 Exchange Houses in the Middle East. The Banks Industrial Finance Branch at Kochi and Corporate Office, Trichur have been accredited with certification under ISO 90012000. On the socioeconomic front, the Bank is a leading player in dispensation of Micro Credit among Keralabased Private Sector Banks. As at the end of March 2006, the outstandings under micro credit were Rs.55.63 crores. This involvement is part of the Banks 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. The Priority sector advances of the Bank as at 31st March 2006 constituting 43.84% of net bank credit well above the RBI benchmark of 40%. As on 31.03.2008, the Bank operated through a network of 181 Branches and 26 Extension Counters spread over 8 States besides 55 onsite and 13 offsite ATMs.The networth of the Bank as on 31.03.08 was Rs. 151.12 crore. The Bank completed, in April 2008, the Rights Issue for Rs.198.76 crore at a premium of Rs.52 per share on a 1:1 basis, through which, the allotment process was completed on 2nd May 2008. The issue enabled the Bank to increase its networth beyond Rs.300 crore prescribed by RBI.As on 31.03.2009, the Bank operated through a network of 181 Branches and 26 Extension Counters spread over 8 States besides 59 onsite and 13 offsite ATMs.The Bank opened 63 branches including 2 processing centres at Hyderabad and Thrissur, covering 14 states. It opened 208 additional ATMs across 13 states. Upgraded 26 extension counters into full fledged branches. Converted asset recovery branches at Coimbatore and Chennai into general category branches. In 2011, 5 branches and 179 ATMs were opened taking the customer outlets to 734 as on 31st March 2011.The Banks customer outlets stood at 680, as on 31.03.12, comprising 268 branches, 400 ATMs and 12 processing centres. As on 31.03.2013, outlets stood at 676, comprising 268 branches, 396 ATMs and 12 processing centres.The Banks customer outlets stood at 676 as on 31.03.2014, comprising 266 branches, 396 ATMs and 12 processing centres 1 treasury 1 ARB.The Banks customer outlets stood at 678 as on 31.03.2015, comprising 266 branches, 398 ATMs and 12 processing centres. The Bank had opened two new ATMs during the year 2015.The Banks customer outlets stood at 644 as on 31.03.2017, comprising 260 branches, 371 ATMs, 11 RPCs, CPC Treasury.The Banks customer outlets stood at 617 as on 31.03.2018, comprising 258 branches, 346 ATMs, 11 RPCs, CPC Treasury.Bank had 250 branches as on 31st March, 2019 spread across 14 States and 1 Union Territory (Chandigarh) and 346 ATMs. As on 31.03.2020, it had 247 branches and 254 ATMs, had 245 branches and 257 ATMs as on 31st March, 2021, had 245 branches and 258 ATMs as on 31st March, 2022. It opened a new Regional Office at Hyderabad w.e.f. March 16, 2022.Bank had 253 branches as on 31st March, 2023 and 270 ATMs and 17 Business Correspondents. It further opened 8 new branches during the financial year 202223 in Manathavady, Cherpulassery, Koyilandy and Mattannur in Kerala State, Thanjavur and Tirunelveli in Tamil Nadu State, Karimnagar in Telangana State and Kurnool in Andhra Pradesh State.