• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Bank intends to open 200 plus ATMs in the next six months

Udupi , April 24

Industrial Development Bank of India Ltd (IDBI), which is expanding its network of branches and ATMs in organic manner, is also planning to grow in inorganic way to increase its presence in the country.

Addressing presspersons after inaugurating a branch at Udupi on Monday, Mr V.P. Shetty, Chairman and Managing Director of IDBI, said that the bank had bigger plans for consolidation.

Terming the merger of IDBI Bank into IDBI last year as a first step in the inorganic growth , he said, "There are issues with regard to integration and it is in the phase of transition."

Once the transition is completed, he said, the bank would seriously look into the matter of its inorganic growth.

MORE ATMs

With regard to organic growth, he said the bank intends to open 200 plus ATMs in the next six months. At present, it has 382 ATMs in the country. "We have also made applications to the RBI for additional licences for opening branches," he said. The bank, which has 171 branches, plans to ramp up its branch network to 500 by March 2008.

Asked about the rural reach of the bank, he said its rural network was poor. The bank has only six branches in rural and 25 branches in semi-urban centres.

More Stories on : Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Extend loans to small tea growers, RBI tells banks

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line