Dena Bank headquartered in Mumbai, is owned by the Government of India, and as per latest data the total branch network stands at 1,400 and plans to open 404 new branches in FY 2015-16 The bank was founded in 1938 and the Indian government nationalized it in 1969.
Dena Bank was founded on 26 May 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company. It adopted its new name, Dena Bank (Devkaran Nanjee) when it was incorporated as a public company in December 1939.
In July 1969 the Government of India nationalized Dena Bank, along with thirteen other major banks. It is now a Public Sector bank constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. Under the provisions of the Banking Regulations Act 1949, in addition to the business of banking, the Bank can undertake other business as specified in Section 6 of the Banking Regulations Act, 1949.