core sector communique

Dhanlaxmi Bank launches Forex Card

Mumbai, September 26, 2011: Dhanlaxmi Bank, one of India’s fastest growing mid-size private sector banks, today announced the launch of Dhanlaxmi Bank Forex Card – a foreign currency denominated, reloadable, prepaid card.

International travellers can now load the card in US Dollars, Great Britain Pounds (GBP) & Euro in India and use it to make purchases at more than 27 million VISA enabled point-of-sale terminals or withdraw cash at any of the 10,00,000 VISA ATMs worldwide.

With Dhanlaxmi Bank Forex Card, overseas travellers have a secure, hassle free and cost-effective option vis-à-vis travellers cheque, international debit and credit card and physical currency notes. The card available over branch counters allows customers the flexibility to conduct transactions at merchant establishments or ATMs, without any additional foreign conversion charges. Customers can change the ATM pin, block or unblock the card, or request for a replacement of lost or stolen card. Apart from viewing online balance availability and transaction history, customers can also avail 24/7 call center facility.

Speaking on the occasion, Mr. D. A. Dhananjaya, Head, Foreign Exchange, Dhanlaxmi Bank, said: “With the launch of forex card, Dhanlaxmi Bank will offer international travellers not only a seamless payment experience but will also provide them with a complete array of foreign exchange related products and services.”

  

Dhanlaxmi Bank offer customers a bouquet of foreign exchange services like foreign currency cash services, foreign currency cheque deposits, foreign currency demand drafts and remittances.

About Dhanlaxmi Bank:

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 3,829 crore as on June 30, 2008 to Rs. 12,904 crore as on June 30, 2011, advances rose from Rs. 2,207 crore as on June 30, 2008 to Rs. 9,675 crore as on June 30, 2011. The bank had a total business of Rs. 22,579 crore, as on June 30, 2011 with total asset base at Rs. 15,036 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.