By Lal Singh Dena Bank was a prominent Indian Public Sector Bank in India. The bank was founded in the year 1938 and was later merged with the Bank of Baroda. Dena bank was well-known for its innovations like minor saving schemes and drive-in ATMs. The bank was the leading Public sector bank for its financial metrics, leadership, and large-scale operations in India.
Dena Bank Overview
| Particulars | Details |
| Company Name | Dena Bank |
| Industry | Banking and Finance |
| Type | Public Sector Undertaking (PSU) |
| Founded | 1938 |
| Founder | Devkaran Nanjee Family |
| Headquarters | Mumbai, Maharashtra, India |
| Last MD & CEO | Mr. Karnam Sekar |
| Business Areas | Banking, Corporate Finance, Retail Banking, Treasury Operations |
| Legacy Brand | Dena Bank (Now operating under the Bank of Baroda brand) |
| Network – at merger | 1,874 Branches |
| Operating Region | Pan-India (Strongest presence in Gujarat and Maharashtra) |
| Official Website | https://www.deanbank.com |
Net Worth and Market Cap
Dena Bank was founded by the Devkaran Nanjee Family in 1938. However, the bank ceases to exist and is merged into Bank of Baroda in 2019. As a result, Dena Bank no longer has its own standalone net worth of Market Capitalization. Before the merger, the net worth of Dena Bank was around ₹ 1,923 crores. At present, BOB’s net worth is ₹1.35 Lakh Crore, and the market capitalization of the bank ranges between ₹1.56 Lakh Crore to ₹1.58 Lakh Crore.
Corporate Leadership
Mr. Karnam Sekar served as the Managing Director and Chief Executive Officer of Dena Bank during its final era. A seasoned banker with over three decades of experience in the public sector, he was a key figure in navigating the bank through its transitional phase. Under the expertise of corporate leadership, Dena Bank was able to strengthen its MSME lending portfolio and maintain a massive retail footprint across India.
Overview of Services
Dena Bank was a pioneer in Indian banking, particularly for its focus on rural development and technology-driven retail products. The core strength of the bank was its commitment to the grassroots economy through the Dena Shakti Scheme, Agriculture Finance, and Microcredit.
Scale of Operations
Dena Bank operated as a mid-sized public sector powerhouse, serving as a vital financial link for millions of retail and rural customers. The face of its operational strength consisted of a dedicated workforce and a vast network of branches that were actively involved in driving financial inclusion and supporting the MSME sector. It has the strongest hold in Gujarat and Maharashtra.