DENA BANK COLLABORATES WITH VISA FOR CREDIT CARD

Article Abstract:

The Dena Bank (DB) has tied up with Visa International (VI) of Singapore for offering credit card services to its customers in 3 months. It has signed an agreement with Equifax for back-office services for the credit card. It has opened an Industrial Finance Branch at Chennai to cater to large borrowers and corporate houses. KPMG, a consultant, has recommended organisational restructuring of DB. The board of directors of DB will consider this suggestion on October 30, 1998. DB has introduced a rating system for customer satisfaction. It plans to inter-connect its 25 branches through a hub to be set up by the Reserve Bank of India at Hyderabad. (rk)

Commercial Banks, Commercial Banking, Services introduction, Singapore, Alliances, partnerships, Visa Inc.

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DENA BANK RECORDS 7.05% GROWTH

Article Abstract:

The net profit of Dena Bank has increased by 7.05 percent to Rs66.08 crore in the first half of 1998-99 (Rs61.72 crore in the first half of 1997-98). Its total income has increased by 15.39 percent to Rs764.05 crore (Rs662.15 crore). Its interest costs have increased by 29.92 percent. (vv)

Sales, profits & dividends

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SNAKES & LADDERS--DENA BANK

Article Abstract:

Investment Information and Credit Rating Agency (ICRA) has reaffirmed LAA rating for Dena Bank's Rs300 crore bond issue. LAA rating indicates high safety. ICRA has also given A1+ (high safety) short term rating for Dena Bank's Rs500 crore certificate of deposits. (um)(psr)

Financial analysis

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