"We are not planning to raise the deposit rates in the short term," Dena Bank chairman and managing director M V Nair said in Mumbai.
The bank should complete the current fiscal with a total business of Rs 39,000 crore from the current level of Rs 32,000 crore (Rs 320 billion), he said.
"Deposits should increase to Rs 15,000 crore (Rs 150 billion) by the end of the current fiscal, while advances should go up to Rs 24,000 crore (Rs 240 billion)," he said.
Almost 70 per cent of the bank's advances come from the retail and agriculture sectors. "Both these sectors are expected to perform better in the remaining period of the year," he said.
The bank has targeted to maintain a net interest margin of 3.2 per cent in the current fiscal, up from 3.08 per cent in the previous fiscal.