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Dhanlaxmi Bank

Dhanlaxmi Bank
Company typePublic
BSE: 532180
NSE: DHANBANK
IndustryBanking
Financial services
Founded14 November 1927; 97 years ago (1927-11-14)
HeadquartersThrissur, Kerala, India
Key people
  • Ajith Kumar K K
    (CEO & MD)
Products
RevenueIncrease ₹1,360 crore (US$160 million) (2024)[1]
Increase ₹57.82 crore (US$6.9 million) (2024)[1]
Total assetsIncrease ₹15,962 crore (US$1.9 billion) ( 2024)[1]
Number of employees
1,686 (March 2024)[1]
Capital ratio12.71%[1]
Websitewww.dhanbank.com

Dhanlaxmi Bank Ltd is an Indian private sector bank headquartered in Thrissur, Kerala.

History

Dhanlaxmi Bank Ltd was incorporated on 14 November 1927 as Dhanalakshmi Bank at Thrissur with a capital of ₹11,000 and seven employees. It became a Scheduled Commercial Bank in the year 1977.

The bank changed its name from Dhanalakshmi Bank to Dhanlaxmi Bank on 10 August 2010.[2]

In 2020, shareholders voted to remove CEO Sunil Gurbaxani at the bank's annual general meeting, owing to governance issues at the bank.[3]

In April 2024, the Reserve Bank of India approved the appointment of Ajith Kumar KK as the managing director and CEO of Dhanlaxmi Bank for three years. Kumar will succeed incumbent CEO & MD J.K. Shivan.[4]

Operations

Dhanlaxmi Bank has deployed a Centralised Banking Solution (CBS) on the Flexcube platform at all its branches for extending anywhere/anytime/anyhow banking to its clientele through multiple delivery channels. The bank has set up a data centre in Bangalore, to keep the networked system operational round the clock. Reserve Bank of India empanelled the Bank as agency Bank for Government agency Business. Bank introduced Customs duty collection services through online mode and Goods and Services Tax(GST) collection through online and over the counter modes.

Partnerships

The bank is a depository participant of NSDL (National Security Depository Limited) offering Demat services through select branches. It has partnered with AGS Infotech for the installation of ATMs. It offers VISA & Rupay-branded debit cards and VISA-branched credit cards to customers. It is also offering insurance services through Bajaj Allianz Life Insurance and CANARA HSBC OBC LIFE company as their Bancassurance life insurance channel partner and Bajaj Allianz General Insurance as General Insurance Channel Partner.

Credit cards

In March 2010, the bank launched Dhanlaxmi Bank Platinum Credit cards.[5]

See also

References

  1. ^ a b c d e "Balance Sheet 31.03.2017". dhanbank.com (15 March 2018).
  2. ^ "Dhanalakshmi Bank gets RoC nod for name change". Business Standard India. Press Trust of India. 14 August 2010.
  3. ^ "After LVB, Dhanlaxmi Bank shareholders oust chief executive Sunil Gurbaxani". Business Standard. 1 October 2020. Retrieved 4 July 2023.
  4. ^ "Dhanlaxmi Bank gets RBI approval for Ajith Kumar KK as MD and CEO". Moneycontrol. 19 April 2024. Retrieved 19 April 2024.
  5. ^ "Dhanlaxmi Bank launches credit cards". Business Standard. Retrieved 28 March 2010.
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