NRI businessman M A Yousaf Ali has made an investment in yet another Kerala-based bank by buying 4.99 per cent shares of Dhanlaxmi Bank. Earlier this year, he had acquired 4.98 pc stake in Federal Bank and 4.99 per cent shares of Catholic Syrian Bank. After procuring the shares, he had become the single largest individual shareholder of Federal Bank.
About his recent banking investments, Yousaf Ali said he wished to strengthen prominent Kerala-based banks to make them more competitive and in sync with new-generation banks.
“Opening more branches in Kerala and Gulf region, up-gradation of operational efficiency at par with international standards are some of the key areas in our focus. This will ensure not only more employment opportunities for our youth, but also will strengthen the state economy,” he said.