Dhanlaxmi Bank Ltd Share Price – NSE  /  BSE

Banks, Small Cap

On sequential basis, gross advances rose 2.38% as on 30 June 2024 as compared with Rs 10,397 crore as on 30 June 2023.

The private lender reported 7.75% growth in total deposits to Rs 14,440 crore in Q1 FY25 as against Rs 13,402 crore recorded Q1 FY24 and rose 1.27% from Rs 14,259 crore as on 31 March 2024.

Total business stood at Rs 25,084 crore as on 30 June 2024, registering a growth of 7% YoY and 1.73% on QoQ basis.

CASA as on 30 June 2024 was at Rs 4,504 crore (up 6.18% YoY and up 2.81% QoQ). Gold loan came in at Rs 3,153 crore during the period under review, rising 28.64% YoY and 11.06% QoQ.

Dhanlakshmi Bank offered services of personal banking are savings account, current account, term deposit, personal loans, car loans, home loans, business loans, loan against property, credit card, debit card, internet banking and mobile banking services.

The bank had reported a net profit of Rs 3.31crore in Q4 FY24, which is sharply lower as comared with the net profit of Rs 38.17 crore posted in Q4 FY23. Total income of the bank rose 11.5% YoY to Rs 347.30 crore during the period under review.

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Dhanlaxmi Bank announced that Ajith Kumar K.K (DIN:08504660) has taken charge as Managing Director & CEO of the Bank w.e.f 20 June 2024.

Further, the term of office of Shivan J.K concluded upon Ajith Kumar K.K assuming the office of Managing Director & CEO of the Bank.

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The Board of Dhanlaxmi Bank has approved the appointment of Ajith Kumar K. K as Managing Director & CEO of the Bank for a period of three years with effect from 20 June 2024.

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Ajith Kumar K.K shall also be a whole-time key managerial personnel (KMP), material risk taker (MRT) and principal officer of the bank. The bank stated that it will seek approval of the shareholders of the bank for the said appointment within the prescribed time period.

Kumar K.K is a graduate in agriculture from Kerala Agricultural University (KAU) and MBA from Cochin University of Science and Technology (CUSAT). He is a seasoned banker with over 36 years of experience with the Federal Bank in various facets of banking including credit, human resources, business, branch banking etc.

He is presently the chief human resources officer at Federal Bank in the cadre of President. He is also the director of Federal Operations & Services, wholly-owned subsidiary of Federal Bank, on account of his employment with Federal Bank.

Dhanalakshmi Bank offered services of personal banking are savings account, current account, term deposit, personal loans, car loans, home loans, business loans, loan against property, credit card, debit card, internet banking and mobile banking services.

The bank had reported a net profit of Rs 3.31crore in Q4 FY24, which is sharply lower as comared with the net profit of Rs 38.17 crore posted in Q4 FY23. Total income of the bank rose 11.5% YoY to Rs 347.30 crore during the period under review.

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