IDBI Bank aims to be among top five in the country

COIMBATORE, Apr 28: State-owned IDBI Bank has set its eye to be among the country’s top five banks in terms of business in the next couple of years, a top bank official today said.
The bank, with a business of Rs 3.91 lakh crore in the just concluded financial year and remaining at 7th slot at present, has made a net profit of Rs 2,000 crore, which would increase to Rs 3,000 crore once the bank reached the fifth slot in two to three years, K C Jani, Executive Director, IDBI Bank, told reporters here.
He said the 8-year-old IDBI Bank has to and would achieve 20 to 22 per cent to be among the five top banks as against the 18-20 per cent growth rate being achieved by other banks.
Jani was here to inaugurate the first edition of Moneytree-Finexpo, organised by local chapter of Indian Chamber of Commerce and Industry, with IDBI Bank as principal sponsor.
With 1,000 branches across the country, IDBI Bank has plans to add 150 more branches during this fiscal, particularly in Taluks and bigger villages, he said, adding that the lender also plans to open more branches in the villages, where the population was below one lakh. (PTI)