IDBI Bank to open 19 more branches in Odisha

Leading public sector lender IDBI Bank has firmed up plans to set up 19 more branches in the state by the end of 2014-15.

“Presently, we have a marginal presence in Odisha with just 44 branches. We would open 19 new branches in the state in this fiscal,” said the bank’s chairman and managing director (CMD) M S Raghavan.

IDBI Bank has one dedicated credit processing centre in Bhubaneswar. Plans are afoot to open a similar centre at Sambalpur shortly. The bank has two retail asset centres in Bhubaneswar and Sambalpur.

By the end of July this year, IDBI Bank has achieved a total business of Rs 4,248 crore in Odisha, including Rs 3,446 crore of deposits and advances worth Rs 802 crore.

The bank CMD today opened a zonal office in the city, aimed at empowering its regional network and encouraging business opportunities in the region.

“The establishment of our zonal office complements and supplements the strengthening of our presence in the state. The bank’s initiative today is a testament to our commitment to empower the zones to bring in unprecedented financial solutions to our customers,” said Raghavan.

The newly opened zonal office is in tune with the bank’s strategy to provide further autonomy to understand the local needs and extend financial assistance to the region. In addition to this, the zonal centres will also play a vital role in helping the bank achieve its goal of expanding its retail loan and MSME (micro, small & medium enterprises) loan portfolio in the state.

For targeting housing finance customers, the bank has introduced a takeover scheme wherein customers can shift their housing loans to IDBI bank with no processing charges being levied on them. The bank doesn’t charge processing fee on fresh home loan also.

IDBI Bank has schemes for wholesale and retail traders, manufacturers, professionals & self-employed, medical practitioners and vendors of large and medium corporate and offers discount to borrowers who have external rating.