Private sector lender, Dhanlaxmi Bank has set a target of achieving total business Rs 28000 crore this fiscal. The projection is double the current figure of Rs 14,000 crore.

The bank has targeted total deposits of Rs 13,000 crore and aims to raise its loan book to Rs 9000 crore. The bank would lend its key focus on sectors like corporate, SME and retail, according to Amithabh Chaturvedi, managing director and CEO, Dhanlaxmi Bank.

Chaturvedi expressed his concerns over the fact that the bank was in threat related to its existence unless it achieves a total business of Rs 40,000 crore and widens its branch network to over 500.

The bank’s capital has been raised by Rs 380 crore thereby putting its capital adequacy ratio (CAR) to 20%. In the upcoming fiscal the bank plans to open 125 new branches pan India and taking the total branch count to 400. Also, 550 more ATMs would be introduced thereby taking the ATM count to 1000.

Presently, the bank has presence in 14 states and 275 branches and 450 ATMs.

The bank aims to expand its rural business by venturing into microfinance businesses.