History of Dhanalakshmi Bank Ltd.
YEAR EVENTS 1927 - The Dhanalakshmi Bank Limited [DBLs] was incorporated. It took banking business of all kinds.
1991 - 2,30,000 shares issued.
1992 - The Bank opened a branch at Veerappan Chatram. It also opened an Extension Counter at Hyderabad; Our Extension Counter at Nanthencode, Trivandrum was upgraded to a full fledged branch.
- On 22nd April, the bank opened a branch at Peelamedu.
- 3,50,000 shares issued to the public.
1993 - Modernisation has begun in the Bank with the inauguration of EDP Section in the Central Office on 28-01-'93. Computer support has been extended to all the three Regional Offices also.
- Computer supported banking will be introduced in several selected branches during the course of year 1993-'94. Some of the branches will be provided with on-line computer facilities. Efforts are also on to build up in house expertise in software development.
1994 - Rights equity shares issued at a prem. of Rs 25 per share.
1995 - The Bank has co-managed 5 issues, participated in 60 public issues in the capacity of Bankers to the Issue & extended underwriting support to 104 Public Issues.
- The the Bank has entered in the field of project appraisal. Requests for 26 bridge loans were also entertained.
- New branches of bank were opened at Chevarambalam [Kozhikode Dist.s], Ponnani [Malappuram Dist.s] & Muvattupuzha [Ernakulam Dist.s].
- 80,00,000 No. of equity shares of Rs 10 each issued at a prem. of Rs 40 per share.
1996 - The bank had offered 80 lacs equity shares of Rs.10/- each at a premium of Rs.40/- on each share aggregating to Rs.40 crores.
- The bank entered into leasing business.
- New branches of bank were opened at Karur [Tamilnadus], Dasarahalli [Bangalores], Chembur Mumbai [Maharashtras], T. Nagar Chennai [Tamilnadus] & Valancherry [Keralas].
- 82,35,545 No. of equity shares of Rs 10 each issued at a prem. of Rs 40 per share allotted through public issue.
1997 - The bank is celebrating the 70th year of service to the nation. The Bank corporate philosophy is `service to the poor and needy'.
- The Bank opened five more branches during the year at Surat, Ahmedabad, Fort Mumbai, Service Branch at Chennai & Industrial Finance Branch at Kochi. The Bank also opened five Extension Counters including the one at Guruvayur.
- 11 branches were fully computerised during the year thereby totalling the fully computerised branches to 26. Back offices of five branches were also computerised.
- The Investment Information & Credit Rating Agency has rated the bank bond issue with a `LA' rating , indicating adequate safety.
- The Trichur-based Dhanalakshmi Bank has been granted a full-fledged foreign exchange licence by Reserve Bank of India [RBIs].
The bank had made a public issue of 80,00,000 equity shares of Rs.10 each at a premium of Rs.40 per share in February, 1996. Prior to the public issue, the shares of bank were spread over 18,000 shareholders.
1998 - Dhanalakshmi Bank has launched two new deposit schemes -- Dhanam Plus & Dhanam Double Plus -- in Bangalore.
- The bank had offered 82 lakh shares at a premium of Rs. 40 per share through the public issue.
1999 - DHANALAKSHMI Bank, which has computerised 70 per cent of its business transactions, is now globally accessible on the Internet & can be visited at http://www.dhanbank.com, an official release from the bank has said.
- THE Dhanam Kisan card will be launched by Dhanalakshmi Bank on October 28.
- Thrissur-based Dhanalakshmi Bank proposes to introduce Web-based banking services in the new millennium.
2000 - The new rates for domestic deposits had become effective April 22 & for NRE/NRNR deposits from May 1.
- The Kerala-based Dhanalakshmi Bank has received clearance from the RBI to allot shares on a pro rata basis to the subscribers of its public issue held in 1996.
- The Bank has opened seven-day banking in select branches in Thiruvananthapuram, Ernakulam & Bangalore.
2001
--Dhanalakshmi Bank inaugurated its first ATM Centre in Chennai at Anna Nagar on August 23
--Dhanalakshmi Bank has opens its first ATM in bangalore
2002 -Dhanalakshmi Bank introduces new home loan scheme called Dhanam platinum jubilee home loan advantage
-The Dhanlakshmi Bank Ltd has fixed February 16, 2002 as the record date for purpose of issue of four equity shares of Rs 10/- each at a premium of Rs 5/- per share on rights basis for every three existing equity shares held.
-Ties up with MetLife India to distribute life insurance products of MetLife India
2003 -Dhanalakshmi Bank sets up 3 branches in Thrissur -Unveils co-branded product DhanLife with MetLife India, makes foray into insurance
-Ties up with United India Insurance Co. in order to market insurance products via all the bank branches
-Mr B Muthuswamy, Managing Director & CEO has resigned & the charge handed over to Mr K A Menon, Executive Director.
-Dhanalakshmi Bank inaugurates its Mumbai Treasury Department on Oct 29
- Dhanalakshmi Bank has taken over a 18,000 square feet property of Pentasoft Technologies under Securitisation Act
2004
-Dhanalakshmi Bank introduces new bill payment services
-Dhanalakshmi Bank takes possession of part of Devaki Hospital
-Dhanalakshmi Bank unveils new loan scheme for 2 wheelers
-Dhanalakshmi Bank Ltd has informed that Sri TR Madhavan has been appointed as its Managing Director and Chief Executive Officer at the Board Meeting held on February 23, 2004.
- Launches heath insurance scheme in association with United India Insurance company
-Delist from Madras Stock Exchange [MSEs] with effect from September 7, 2004
2005
-Dhanalakshmi Bank joins IDRBT managed ATM network
-Dhanalakshmi Bank inks rupee-drawing agreement with Oman firm
-Dhanalakshmi Bank appoints Mr Prasad as new CEO
-Dhanalakshmi Bank unveils new housing loan product
2007
-Dhanalakshmi Bank Ltd has appointed Mr. K Srikanth Reddy as Additional Director, at the Board meeting held on October 29, 2007.
2008
- Dhanalakshmi Bank Ltd has appointed Mr. S Santhanakrishnan as Additional Director, at the Board meeting held on June 30, 2008.
-The Comp. has issued rights in the ratio of 1:1 at a premium of Rs. 52/-Per Share.
2009
- Dhanalakshmi Bank has appointed Mr Bipin Kabra as Chief Financial Officer [CFOs], who has over 16 years of experience in financial services industry. His past assignments include stints in ICICI as well as SBI & Reliance group. Prior to joining the Dhanalakshmi Bank, he was associated with Zee group. He has spent considerable period in banking, insurance, merchant banking & treasury.
