On Wednesday, IDBI Bank's official stated that a new branch of the bank is going to open in Singapore. In Shanghai, the bank will also open a representative office. However the authorities are yet to take the final decision, as per IDBI Bank's Zonal Head and Chief General Manager, D.C. Jain.
In celebration of the Year which completes the Golden Jubilee of IDBI Bank, there are plans to target twice the amount from MSME and home loans disbursal portfolios, in a matter of two years, in Gujarat, they plan to target Rs.2, 000 crores each. In a further statement, it was said that there are expansion plans in the pipeline. As of now, the bank has 1900 ATMs in around 700 plus locations, they have 1700 branches across the country.
It was also stated that for the next two years, the focus of the bank in Gujarat will be on the MSME segment and consumer banking. There are also plans to open 12 branches in the State by March, 2014