Kerala-based private sector lender Dhanalakshmi Bank [Get Quote] plans to recruit close to 400 employees, almost one-third of its present strength, to build up the existing team to tap more business.

"At present, the branches are under-staffed and looking at the business potential. we decided to add two persons per branch. Now, the bank employee strength is around 1,400," the bank's newly-appointed chief executive and managing director Amitabh Chaturvedi said. He took charge in October for a three-year period.

The Thrissur-based bank has a strong presence in Kerala though the region is saturated with a wide network of private and public sector banks.

The Dhanalakshmi Bank now aims to break free of its regional tag and have a pan-India presence.

Explaining that the business prospects of the banking sector in the contry are immense, Chaturvedi poined out that there was a wide gap between the two leading private sector players and the other private lenders. "Our aim is to be among the top five private banks in the next five years", he said.

Business plans to this effect will be put in place across the bank's branches in the country in the next six months. It is also inducting professionals across functions such as treasury and international banking, who would operate out of financial capital.