IDBI Bank opens new branch at Tirupati in Andhra Pradesh

Shri I.Y.R. Krishna Rao, IAS, Executive Officer, Tirumala Tirupati Devasthanam (TTD) Board, inaugurated the Tirupati branch of the Bank in Andhra Pradesh today in the presence of Shri Yogesh Agarwal, Chairman & Managing Director, IDBI Bank. The Tirupati branch is located at 19-8-8/D, A.I.R. By-pass Road, Annamaiah Circle, Tirupati – 517501.

Speaking at the inaugural ceremony Shri Yogesh Agarwal said, “IDBI Bank, indeed, has transformed from a Development Financial Institution (DFI) into a new generation, full-service commercial bank, offering full spectrum of financial products & services, in the areas of retail and corporate banking, agriculture, SME and other segments of financial services besides carrying out the DFI activities as well. The opening of the branch in Tirupati is yet another step towards increasing our reach to retail customers, across the country. The Bank is embarking on a well-defined growth path harmonious with our intent of being India’s fifth largest bank by the year 2012 providing the entire gamut of banking products and services to both corporate and retail customer segments.”

About IDBI Bank
IDBI Bank is a universal bank that rides on a cutting edge core banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 702 branches and 1,168 ATMs. The Bank had a balance sheet size of Rs.2,03,311 crore as on December 31, 2009. IDBI Bank's operations during the quarter ended December 31, 2009, resulted in a net profit of Rs.287 crore.