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Our Bureau

Hyderabad , Feb. 4

IDBI Bank opened its first dedicated loan centre at Basheerbagh Square on Wednesday. In a release, the bank said that its retail lending, led by home loans, stands at close to Rs 3,000 crore.

On the home loan account alone, the bank disburses about Rs 200 crore a month on an average across the country, with Hyderabad contributing about Rs 20 crore.

Inaugurating the Hyderabad loan centre, Mr G.V. Nageswara Rao, Managing Director, said: "This marks the renewal of the bank's commitment to serve home seekers in particular with better efficiency and minimal response time."

The twin cities of Hyderabad and Secunderabad provide an excellent market for the bank and it was only natural that the bank decided to strengthen its foundation in this area, Mr Rao said in the release.

Apart from serving the twin cities, the centre would cater to the needs of other cities such as Visakhapatnam and Vijayawada.

At the end of December 2003, IDBI Bank had registered 222 per cent growth in the home loan segment with outstanding portfolio of Rs 2,609 crore compared to Rs 808 crore in December 2002. The bank, which has a customer base of 8.75 lakh, operates 296 ATMs and 99 branches in 69 cities.

With infusion of fresh capital to the tune of Rs 154 crore through a recent rights issue, the bank is armed with increased resources to continue its aggressive business plans, Mr Rao said. Moreover, the bank's board of directors has also given clearance to raise a further Rs 100 crore by way of subordinated debt in one or more tranche, he added.

More Stories on : Private Banks | Credit Market | Andhra Pradesh

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