Dhanlaxmi Bank Ltd Share Price

Summary

Dhanlaxmi Bank Limited was incorporated on November 16, 1927 by a Group of Enterprising Entrepreneurs (GEE) at Thrissur. It became a Scheduled Commercial Bank in 1977. Between 1927 to 1937, its services were localised in Thrissur. In 1937, it extended its service to Ernakulam and Palghat by opening branches there.By 1947, DBLs deposits generated stood at Rs 31 lac. In 1962, it took over three banks -- Lakshmi Prasad Bank, Radhakrishna Bank and Parli Bank. Subsequently, it further expanded its network throughout Kerala, and then in Tamilnadu, Andhra Pradesh and Karnataka in 1978. With this, DBLs operations covered the entire southern India apart from its strong presence in Kerala.The period covering 1985-90 saw the bank opening up its first branch outside southern India, in Bombay. It started dealing in other segments of banking such as bills discounting, letter of credit, etc. Two prominent religious trusts -- Sabarimala and Guruvayoor Devasom Board, are among its host of clients. In 1993, the bank obtained restricted foreign exchange licence, to maintain rupee accounts of non-residents. DBL also ventured into new areas such as consumer banking, corporate banking and merchant banking.In Mar.96, DBL came out with a public issue of 80 lac equity shares of Rs 10 each for cash at a premium of Rs 40 per share aggregating Rs 40 cr, to strengthen the capital base for meeting statutory capital adequacy norms and to obtain the listing of shares on the stock exchanges. There was a rest
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