IDBI Bank to expand corporate banking services at more branches

IDBI Bank is considering to increase the number of branches offering corporate banking services in the next financial year. The bank has conducted the survey work for increasing the branches.

The bank has also plans to increase the number of branches offering retail services in parts of Gujarat. At present, IDBI has eight branches in the state, of which, Ahmedabad, Vadodara, Surat and Rajkot are offering corporate banking services.

"We are offering corporate banking services through four branches in Gujarat. We are planning to equip a number of branches with corporate banking portfolio in the state in next fiscal. We have the same plans under consideration for Maharashtra and Goa too," said R Narasimhan, head-corporate banking (for western India), IDBI Bank.

Narasimhan was in Vadodara on the occasion of the formal launch of online direct taxes facility last month.

"The bank has conducted surveys in centers including Gandhinagar, Gandhidham, Ankleshwar, Bharuch and Vapi. In Maharashtra, we have plans to cover Nagpur and Nasik. We have assessed the potential of both the branches of Goa also during the survey," said Narasimhan.

In its corporate banking portfolio, IDBI Bank offers deposit products, trade finance, Internet banking and services related to capital market.