IDBI Bank is targeting seven lakh debit card issuances in a year. The bank claims that its backoffice is fully geared up to support the expansion.
Shameek Bhargava, head-ATMs and card products, said the bank would continue "exciting features to the product to provide superior value to the customers, every time they use the international debit card."
The bank has recorded impressive growth in the retail business over the past one-and-a-half years it has been into the business. Its network spans in 63 cities with 90 branches and 248 ATMs.
IDBI Bank has launched the debit card which will replace ATM cards issued by the bank and can be used to withdraw cash at over 245 ATMs, over 2500 Visa\Plus ATMs in India and over 6.7 lakh ATMs across the world.
Ajay Bimbhet, country head, retail banking, said the bank has initiated a slew of initiatives aimed at providing superior service and techno savvy products.
"The bank has set a clear customer-focused agenda and the ability to create product differentiation has helped it to create a special niche for itself," he said.
He added that the bank was the first to provide various services such as mobile banking irrespective of service provider, bank as well as demat account statement on email, providing particulars to market value of holding in demat segments and loans against National Savings Certificates.
Last year, the bank's profit after tax grew by 170 per cent to Rs 52.40 crore. Income, during the year, increased by 55 per cent to Rs 266.10 crore.
