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IDBI, Bank boards to discuss merger today

Our Bureau

Mumbai , Jan. 19

THE board of IDBI Bank Ltd will meet on Thursday to discuss the merger with IDBI Ltd, the bank said in a notice to the BSE on Wednesday.

IDBI transformed into a bank from October 1, 2004.

Post-merger, the bank envisages two strategic business units - one focusing on development finance (corporate banking) and the other on commercial banking needs like retail.

IDBI is also understood to be scouting for acquiring banks with an international presence.

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IDBI, Bank boards to discuss merger today

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