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Dena Bank Company History and Annual Growth Details

1969


- The Bank was brought into existence by an Ordinance issued on 19th
July, by the Central Government. The Bank is a Government of India
Undertaking and carries on all types of banking business.

1970

- The Bank Companies Act, 1969, was declared null and void by the
Supreme Court on the 10th February and was made effective
retrospectively from 19th July, 1969.

- Under the 'Lead Bank' scheme the Bank was allotted 9 districts of
which 6 were in Gujarat, 2 in M.P. and one in the Union Territories of
Dadra and Nagar Haveli.

1971

- Branches were opened in most of the lead districts. Bank took up
second stage of the lead bank scheme. District level consultative
committees were set up in all the districts.

1978

- The Bank had set up its first regional rural bank in the Kutch
district of Gujarat State in December.

1980

- The second regional rural bank was set up in March at Rajnandgaon in
Madhya Pradesh.

1981

- The Third Regional Rural Bank was set up at Patna.

1984

- The Bank sponsored its fourth Regional Rural Bank at Himatnagar in
Gujarat.

- Rs 12 lakhs of capital subscribed by Government.

1985

- Rs 13.63 crores of capital subscribed by Government.

1986

- Rs 7 crores of capital subscribed by Government.

1989

- Rs 20 crores of capital subscribed by Government.

1990

- Rs 30 crores of capital subscribed by Government.

1991

- Rs 25 crores of capital subscribed by Government.

1993

- Rs 50 crores of capital subscribed by Government.

1994

- Rs 130 crores of capital subscribed by Government.

1995

- Rs 6.11 crores of capital subscribed by Government.

1996

- Rs 136.29 crores of capital was set off against accumulated losses.

1997

- Rs 6.00 crores Equity issued through prospectus to the public at a
prem. of Rs 20 per share.

- Dena Bank one of the premier public sector banks, has introduced Dena
Smart Card, to facilitate anywhere banking. Dena Bank is the first
bank to launch this unique customer friendly product. It is for the
first time in India that a Bank is using Smart Card for storing account
details.

- The new card will be known as Dena Credit Card against Can Card,
presently offered by the bank.

- Dena Bank proposes to start an industrial equipment leasing division
during 1997-98, according to Madhukar Umarji, General Manager of the
Bank.

- Dena Bank plans to become a depository participant with National
Securities Depositories Ltd (NSDL). The bank has also signed an
agreement with NSDL for dematerialising its scrips.

- The bank proposes to open 15 branches in the country in the current
year.

- Dena Bank has computerised 250 branches till date out of 1,150
branches and has obtained World Bank assistance to the tune of Rs.63
crores. The bank has set up 11 ATMs throughout the country and 20 more
are expected to be installed during the year.

- The bank has proposed to increase its average staff productivity to
Rs 80 lakh per employee from Rs 70 lakh. A major leap up will be taken
in the field of modernisation, as 50 more branches will be fully
computerised during the current year which will make the figure of 95
fully computerised branches.

- Dena Bank has tied up with Visa Card International for providing
independent credit card facility to its customers. Consequently, the
bank had decided to call off the credit card agreement with Canara
Bank.

- Dena Bank is the second bank after Union Bank of India to break
agreement with Canara Bank in connection with credit card facility.

- Dena Bank started ATMs at five of its branches that are hooked to
Iwadhan, a shared payment network system in the metropolis spearheaded
by Indian Banks' Association.

1998

- Dena bank, which is celebrating its diamond jubilee this year, has
launched a deposit mobilisation month from February 10 to March 10.

- The rating for the long-term sub-oriented bonds of the Rs.100-crore
Dena Bank has been upgraded from LAA- to LAA, indicating high safety.
The sub-oriented bonds of Rs.200 crore has been assigned an LAA rating.

- Dena Bank has adopted a new logo - a contemporary D anchored by the
image of goddess Laxmi. The D stands for a new attitude and a new
dedication to service.

- Dena Bank has launched a new term deposit - the 'Freedom Deposit
Scheme' - which provides returns available on term deposits while
assuring the investors with liquidity.

- Dena Bank on 26.05.98 launched its outstation cheque collections
service, Dena Zoom, and inaugurated the Dena Institute of Information
Technology as part of its Diamond Jubilee celebrations.

- Ramesh Mishra, had signed a memorandum of understanding with Visa
International on October 2 in Singapore. The bank has also signed an
agreement with Equifax Venture Infotek Ltd for providing the full range
of back office support services.

- Dena Bank proposes to issue its own independent credit cards and is
holding talks with VISA International for this purpose.

1999

- Dena bank has launched 'Dena Kisan Card' and has aligned with Visa
International to issue its own credit card. The card will be available
to customers soon.

- Dena Bank has tied-up with Visa International to launch its Visa
exclusive credit card.

- Dena Bank has tied up with United Bank of Switzerland (UBS) and
Commerzbank International of Luxembourg for gold trading, and targets
business worth Rs 3,000 crore in the first year.

- Dena Bank has entered into an agreement with UBS AG Zurich and
Commerz Bank International SA Luxemberg for supply of gold on a
consignment basis to enable the bank to retail gold in India.

2000

- The Company has appointed Sharepro Services as its R&T agent in place
of PCS Inds Ltd.

- Dena Bank to launch 'debt card', market insurance products in a bid
to boost its retail banking activity and increase business by over Rs
23,000 crore by this fiscal.

- A G Pradhan has joined Dena Bank has chief vigilance officer.

- Dena Bank has launched a housing loan scheme -- 'Dena Niwas Loan'
targetted at housing activity in greater Guwahati.

- Mr. S.C. Vohra, Currently General Manager, Punjab & Sind Bank, has
been appointed as a whole-time director.

2001

- The Bank has closed its issue of unsecured non-convertible debentures
after raising the targeted Rs 75 crore.

- Dena Bank has entered into an alliance with HDFC Bank to optimise
customer service.

- The employees of Dena Bank observed a token strike on 28th March in
protest against the closure of more than 100 branches of the bank all
over the country.

2002

- Dena Bank has informed that the Central Govt. has appointed Mr.
Sudhir Kumudchandra Joshipura, as a Workmen Employee Director on the
Board of Directors of Dena Bank for a period of three years.

-A K Rai appointed as Director on the Board of Dena Bank.

2003

-Dena Bank issues 190 notices to defaulters comprising of Rs.316crs.

-Bank members have elected the directors of the shareholders which includes
Shri Subash Chandra Wadhwa, Shri Atul Ashok Galande, Shri Chintaman Mahadeo
Dixit and Shri Manu Chadha.

-Dena Bank introduces two new schemes to suit Indian residents and non-resident
Indians.

-Dena Bank recovers 16.56cr NPA from 32 parties at a Lok Adalat.

-Central Government appoints Mr.B T R Reddy as Officer Employee Director of Dena Bank.

-Approved the raising of equity share capital of the Bank by Rs.80.00 crores i.e. to increase the issued, subscribed and paid up capital of the Bank from 20,68,23,200 shares at Rs.10/- per share i.e. total Rs.2,06,82,32,000/- to 28,68,23,200 shares at Rs.10/- per share i.e. Rs.2,86,82,32,000/- by way of Second Public Issue.

-A meeting of the Board of Directors of Dena Bank will be held on November 27, 2003 to consider inter alia and if thought fit to approve the prospectus to be filed with SEBI in connection with the Banks proposed second public offer.

-Dena Bank has informed that the Chairman & Managing Director, Shri A.G. Joshi has retired on December 31, 2003 on attaining the age of superannuation i.e. December 31, 2003 after close of office hours and ceased to be Director of the Bank w.e.f. January 1, 2004.

2004

-Dena Bank has informed that the Central Government has appointed Shri P Vijaya Bhaskar, Chief General Manager, Reserve Bank of India, Mumbai as a Director on the Board of Directors of Dena Bank with effect from January 09, 2004 and until further orders, in place of Smt. Grace Koshie, Chief General Manager-in-charge, Exchange Control Department, Reserve Bank of India, Mumbai.

-Dr. Anil K. Khandelwal has taken over as the Chairman and Managing Director of Dena Bank Ltd

-Dena Bank signs MoU with International Tractors Ltd for Financing Tractors

-Dena Bank has been adjudged the best commercial bank in Gujarat under Nabard's Self Help Group - Bank Linkage Programme

-Dena Bank CMD wins award for women empowerment initiatives

-Dena Bank has signed an MoU with Oriental Insurance Company to distribute the latter's non-life policies

-Dena Bank on July07, 2004 signed a memorandum of understanding with Eicher Tractor for tractor financing

-Dena Bank has signed a memorandum of understanding (MoU) with Mahindra Gujarat Tractor Ltd (MGTL), a subsidiary of Mahindra & Mahindra (M&M) Ltd, for extending financial assistance to farmers buying tractors manufactured by the company

-Ties up with Escorts Tractors

-Dena Bank inks MoU with M&M for tractor loans

-Western Union joins hands with Dena Bank for inbound remittances

-Dena Bank forges alliance with IIT-C for rural ATM kiosks

2005

The second public issue opened on January 24, 2005 and closed on January 29, 2005. The issue had got overwhelming response from investors and substantially oversubscribed.

- Life Insurance Corporation of India signs 32nd bancassurance agreement with Dena bank on April 29, 2005..

-Dena Bank appoints Shri M V Nair as Chairman & Managing Director (CMD) for a period of five years

-Dena Bank inks agreement with Small Industries Development Bank of India

-Dena Bank inks agreement with SIDBI

-Dena Bank rolls out 'no frills' banking

-Dena Bank join hands with LICMF.

2006

=Dena Bank and Union Bank of India have tied up with Small Farmers Agri-business Consortium (SFAC) to facilitate growth of agri business.

2007

-Dena Bank has appointed Mrs. Smita Vijayanand Pandit (Chief Manager -IRC & Company Secretary) as Compliance Officer in place of Shri M.G. Sanghvi with immediate effect, who will directly liaise with the authorities such as Stock Exchanges, SEBI, ROC etc.

2010

- Dena Bank has nominated Shri Ignatius Marshal, Almeida, Manager Dena Bank as Officer Employee Director on the Board of Dena Bank, for a period of three years from the date of notification and /or upto November 30, 2012 i.e. the date of superannuation or until he ceases to be an officer of the Dena Bank, or until further orders whichever is the earliest.

- Dena Bank has Shri A. K. Dutt, as a whole time director (designated as Executive Director) of Dena Bank.
 
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