Dhanlaxmi Bank Ltd Share Price – NSE  /  BSE

Banks, Small Cap

The bank further stated that a meeting of the board of directors will be convened in due course to approve the appointment of Ajith Kumar K.K as the MD & CEO of the bank.

The private sector lender will also seek the approval of its shareholders for the same, as per the regulatory provisions.

Ajith Kumar K.K is a seasoned banker with over 36 years of experience with the Federal Bank Limited in various facets of banking including credit, human resources, business, branch banking, etc.

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

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 3.05 crore in Q3 FY24, which is sharply lower as comared with the PAT of Rs 21.73 crore posted in Q3 FY23. Total income of the bank rose 10% YoY to Rs 343.42 crore during the period under review.

The scrip fell 2.05% to currently trade at Rs 42.90 on the BSE.

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Dhanlaxmi Bank has received the approval for the Reserve Bank of India for the appointment of Ajith Kumar K.K (DIN: 08504660) as the Managing Director & CEO of the Bank for a period of 3 (three) years with effect from the date of taking charge.

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On sequential basis, advances rose marginally during the quarter as compared with Rs 10,314 crore as on 31 December 2023.

The private lender reported 6.80% growth in total deposits to Rs 14,259 crore in Q4 FY24 as against Rs 13,351 crore recorded Q4 FY23 and marginally declined from Rs 14,340 crore as on 31 December 2023.

Total business stood at Rs 24,668 crore as on 31 March 2024, registering a growth of 6.30% YoY and QoQ basis total business increased marginally from Rs 24,654 crore recorded in Q3 FY24.

CASA as on 31 March 2024 was at Rs 4,381 crore (up 2.84% YoY and down 1.77% QoQ). Gold loan came in at Rs 2,839 crore during the period under review, rising 24.85% YoY and 6.13% QoQ.

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 reported 45.8% jump in net profit to Rs 23.16 crore in Q2 FY24 from Rs 15.89 crore posted in Q2 FY23. Total income grew by 14.8% YoY to Rs 327.43 crore during the quarter.

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Dhanlaxmi Bank will hold a meeting of the Board of Directors of the Company on 22 March 2024.

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