Although initially only available for overseas issued cards, Dashen will soon begin providing cards to local customers
The Bank's deal with the
The payment Dashen has made on signing the agrement enables it to deliver services to domestic clients obtaining the cards from Dashen, whereas foreign banks, whose clients come to
Dashen will begin issuing this card to its domestic clients in September, in addition to the VISA card it is already issuing. It does not have such provisions for
Though officials of the Bank refrained from disclosing the amount paid to
It is also a lucrative business, as the Bank has discovered with the other cards already in business, he added. Transactions of the VISA card through ATM and POS outlets has reached 3.6 billion Br, as well as generating
With its total deposits reaching 18 billion Br, the Bank is also underway in its bid to launch mobile and agent banking, through which companies and commercial establishments, through an agreement with the Bank, provide services to the Bank's customers. It is set to start serving through agents within the coming three months, which will also be followed by internet banking services, according to Estifanos.
Established over a decade ago, with an initial capital of 50 million Br, Dashen has increased its total capital to two billion Br in 2012 - 737 million Br of this is paid up. It is the biggest private bank in the country, with deposits of 18 billion Br mobilised from 1.2 million depositors.
Dashen's dividend per share has been one of the highest in the industry over the past few years. It achieved a staggering 926 Br earnings a share from its operations in 2011/2012, up from 753 Br the year before and 609 Br in 2008/09. The earnings per share for the year 2012/13 were down to 823 Br, which was due to the declining net profit to 607 million Br in 2012/13 from 652 million Br the previous year. The Bank operates 134 branches and five forex offices in the country at present.
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