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Annual Report 2014-15.Pdf

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Annual Report 2014-15.Pdf Inauguration of Our Bank’s Sabarimala Sannidhanam branch for Mandala Makaravilakku season 2014-15 on 17th Nov 2014 by Sri V S Sivakumar , Hon’ble Minister for Health and Devaswoms in the presence of Sri P K Kumaran, Hon’ble Member, Travancore Devaswom Board, Sri P Venugopal IAS, Hon’ble Devaswom Commissioner, Sri V S Jayakumar, Executive Officer, Travancore Devaswom Board, Sri P G Jayakumar, Managing Director & CEO and Sri P Manikandan, Chief General Manager of Our Bank. A Glimpse of Our Bank’s 87th Annual General Meeting Registered and Corporate Office Dhanlaxmi Bank Limited, P. B. No. 9, Dhanalakshmi Buildings Naickanal, Thrissur – 680 001. Kindly refer to the website for other offices. Company Secretary Krishnan K. S. Auditors Sagar & Associates, Chartered Accountants, Hyderabad Legal Advisors M/s B. S. Krishnan Associates, Ernakulam M/s Varghese & Jacob, Ernakulam M/s C. K. Karunakaran & Associates, Ernakulam Stock Exchanges National Stock Exchange of India Limited (NSE) BSE Limited (formerly known as Bombay Stock Exchange Limited) Registrar & Transfer Agents Karvy Computershare Private Limited, Plot No. 17-24 Vithal Rao Nagar, Madhapur, Hyderabad – 500 081 1 Table of Contents 3 Directors’ Report 56 Balance Sheet 21 Management Discussion and Analysis Report 57 Profit & Loss Account 37 Report on Corporate Governance 58 Cash Flow Statement 54 Independent Auditor’s Report 60 Schedules www.dhanbank.com 2 Directors’ Report To The Members, Deposits The total deposits of the Bank increased to `12381.68 crore from The Board of Directors is pleased to place before you, the 88th ` 12133.21 crore as on March 31, 2014 registering a growth of Annual Report of the Bank along with the Audited Balance Sheet 2.05%. as at March 31, 2015 and the Profit and Loss Account for the year ended on that date. Advances The Bank’s total advance stood at `8121.90 crores as on Performance Highlights 31.03.2015 as against ` 8205.76 crores as on 31.03.2014. The salient features of the Bank’s performance for the financial year ended March 31, 2015 are: Priority Sector Advances l The total Deposits of the Bank increased from `12133.21 Your Bank continued its prudent approach towards priority sector crore as on 31.03.2014 to `12381.68 crore as on 31.03.2015. lending in conformity with the national policies, regulatory expectations and fulfillment of social objectives. The Bank’s l The Bank’s total advance stood at ` 8121.90 crore as on priority sector advances stood at 35.18% and its agricultural 31.03.2015 as against ` 8205.76 crore as on 31.03.2014. advance reached 18.73% of the adjusted net bank credit. l Achieved operating profit of ` 16.58 Crore for the financial The weaker section advances was at 12.40%, thus surpassing year 2014-15. the prescribed norm of 10% Lending under various socio- l Interest expended reduced by `27.08 Crore during economic schemes has shown satisfactory progress. the financial year 2014-15 as compared to previous FY 2013-14. Profitability l Net NPA at 3.29% and Gross NPA at 7.00%. The bank’s operating profit during the year was ` 16.58 crore as l Basel II CRAR at 9.71% and Basel III CRAR at 9.59%. against ` 6.07 crore during the previous year. The bank declared l Book value per share is ` 58.47. a net loss of ` 241.47 crore during the year under report and the same at the previous year was ` 251.82 crore. Capital and Reserves Dividend The Bank’s Paid up capital and reserves was ` 723.85 crore as on In view of the net loss recorded by the Bank during the year, 31.03.2015. The capital adequacy ratio as per Basel II and Basel regrettably no dividend could be recommended to the III was 9.71% and 9.59% respectively. shareholders. During the year the Bank had issued and allotted 5,15,07,000 Non-Performing Assets Equity shares of `10 each for an aggregate amount of There has been an increase in non-performing assets during the ` 229.63 crore (including premium) by way of Preferential issue of year under report. shares to augment capital funds to further improve our Capital Adequacy Ratio. During the year, the new slippage to NPA was ` 337.18 crore, in comparison with the slippages of ` 488.08 crore for the previous Total Business year. The total Business of the Bank as on 31.03.2015 stood at ` 20503.58 crore as against ` 20338.97 crore as on 31.03.2014 The total recovery in NPA during the year was ` 84.51 crores. The and registered a growth of 0.81%. corresponding figure for the previous year was ` 212.20 crores, 3 excluding the Sale of assets to ARC. The lower recovery for this complaints at Branches, Regional offices, ATM Reconciliation year is on account of the Corporate NPAs. Desk, Call Centre and Corporate Office who are in turn handling all transactions and services for the customers has helped the Bank has resorted to all effective monitoring/recovery measures Bank in better customer service and reduction in number of permitted under Law. This has helped us to restrict further complaints. slippages into NPA and make recovery from the existing NPA accounts. By constant monitoring/recovery measures, Bank is Branch Expansion optimistic of achieving better results in the next year. The Bank’s customer outlets stood at 678 as on 31.03.2015, comprising 266 branches, 398 ATMs and 12 processing centres. Customer Service The Bank had opened two new ATM’s during the year. We have The Bank attaches the highest importance to the quality of concentrated on consolidating our operations across the customer service rendered across its branches / offices. It has country and thereby aiming at utilizing our branches to their taken a series of measures during the year through deployment fullest potential. of technology and otherwise for significantly enhancing service quality. A well defined and full-fledged Customer Grievance Damodaran Committee on Customer Service Redressal Mechanism is put in place in the Bank. The Reserve Bank of India had constituted a Committee under the Chairmanship of Shri M. Damodaran, former Chairman, SEBI The Customer Service Committee of the Board monitors the to interalia: implementation of customer service measures periodically. l Examine the functioning of Banking Ombudsman Scheme- Customer Service Committees comprising of Bank personnel as its structure, legal framework and recommend steps to well as our constituents have been formed at the apex level and make it more effective and responsive. at branches for monitoring service quality and bringing about l Review the role of Board of Directors of banks and the role of improvements in this area on an ongoing basis. The Bank has a Regulators in customer service matters. 24 x 7 Phone Banking Call Centre at Thrissur as an outsourced l Evaluate the existing system of grievance redressal model to cater to customer needs across the country. mechanism prevalent in banks, its structure and efficacy and recommend measures for expeditious resolution of The Bank is a member of Banking Codes & Standards Board complaints. The committee may also lay down a suitable of India (BCSBI) and is actively implementing the Code of time frame for disposal of complaints including last Commitment to Customers as also the Code for Micro and Small escalation point within that time frame. Enterprises formulated by the BCSBI. In the annual Compliance l Examine the possible methods of leveraging technology for survey conducted by BCSBI on implementation of BCSBI Code, better customer service with proper safeguards including the Bank has achieved “Above Average” rating for compliance legal aspects in the light of increasing use of Internet and IT amidst total 48 banks (including public sector, private sector for bank products and services and recommend measures and foreign banks) surveyed across the major parameters such to enhance consumer protection. as customer centricity, information dissemination, customer l Review the existing system of attending to customer service feedback and transparency. Also the Bank has been successful in banks –approach, attitude and fair treatment to customers in achieving a “High Level” of compliance with regard to the from retail, small and pensioners segments. “Grievance Redressal” segment thereby placing us amongst the top five private sector banks on the said parameter. We have received a total of 107 recommendations from the Committee since inception. Out of the 100 recommendations During the financial year 2014-15, the Bank received 4738 applicable to your bank, we have implemented 85 complaints as against a total of 6462 complaints received in recommendations and the implementation of remaining items the previous financial year. The organized structure for handling is in process. www.dhanbank.com 4 Contact ATM Banking Particulars RO & CO Total Centre Recon Ombudsman No. of Complaints Outstanding at the beginning of the Year 9 7 35 2 53 No. of Complaints Received during the year 1525 178 2973 62 4738 No. of Complaints Resolved during the year 1531 185 3000 59 4775 No. of Complaints Pending during the year 3 0 8 5 16 The following important products and services were introduced l Provided sandwich posters containing information on during the year for the benefit of the customers: the Bank’s various products and services for displaying in all branches/ATMs to make aware of the customers and l During the last FY, your Bank had introduced the facility general public about facilities offered by the Bank. where by the account balances are sent to the customers’ l Special Banking services at Sabarimala like last year with mobile number as SMS within 8 seconds.
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