Dhanlaxmi Bank announces scholarships for 10 meritorious students every year


INDIACSR News Network

MUMBAI: Dhanlaxmi Bank, one of India’s fastest growing mid-size private sector banks, today celebrated its 84 years of glorious success, service, trust and commitment. The bank entered into its 85th year of operations commemorating the vision of the founders by undertaking special initiatives themed ‘giving back to the society’ across the country.

The bank will be sponsoring the students who have successfully graduated from Thrissur Management Association (TMA) in Kerala by honoring each of them with a cash prize of Rs. 50,000/- per annum.

Celebrating the eight decades of strong existence, the bank conducted social drives focusing on health, environment, serving the less fortunate and spreading general well-being among the masses during the Founders’ Week from November 8th to 14th, 2011.

Employees spanning all branches arranged diabetes awareness, blood donation and medical camps where free cholesterol and thyroid tests were conducted. Supporting wholeheartedly the concept of saving the environment, employees distributed seeds and planted sufficient number of saplings. Realizing the importance of health, yoga camps and cleanliness awareness drives were arranged at prominent locations across the country.  Furthermore, employees devoted their time and energy visiting old age homes and orphanages where clothes were donated, books were read and children were taught.

Speaking on the occasion, Mr. Amitabh Chaturvedi, Managing Director & Chief Executive Officer, Dhanlaxmi Bank, said: “With the mission to carry forward the legacy and vision as laid down by the founders, we aim to give back to the society that has nurtured us by doing small deeds of kindness. Taking forward the concept, Dhanlaxmi Bank will award two-year scholarships to 10 deserving students every year.”

The bank will be sponsoring the students who have successfully graduated from Thrissur Management Association (TMA) in Kerala by honoring each of them with a cash prize of Rs. 50,000/- per annum.

Dhanlaxmi Bank is an 84-year old bank, being incorporated in 1927 at Thrissur, Kerala. In the last three years, it has transformed into a well diversified bank with a pan-India presence from being an SME focused South India based bank. With a network of 275 branches and 460 ATMs covering 160 centers across 14 states, the bank services a broad customer base of 1.6 million. The bank provides a suite of banking products and services to its customers across Retail Banking, Wholesale Banking, Microfinance and Agricultural Lending and Small and Medium Enterprises Group.

During the last three years, Dhanlaxmi Bank’s total deposits increased from Rs.3,936 crore as on September 30, 2008 to Rs. 13,815 crore as on September 30, 2011, advances rose from Rs. 2,490 crore as on September 30, 2008 to Rs. 10,130 crore as on September 30, 2011. The bank’s total business stood at Rs. 23,945 crore, as on September 30, 2011 with total asset base at Rs. 16,452 crore.

The shares of the bank are listed on the Bombay Stock Exchange Limited, the National Stock Exchange of India Limited and the Cochin Stock Exchange.

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