Iibi Keen On Tie-Ups With Bigger Banks, Fis

The bank has made a beginning in this direction by picking up an exposure of Rs 40 crore in the IDBI-led consortium for the largest industrial project in West Bengal, Haldia Petrochemicals Ltd. The bank is also considering issuing of preferential shares. First, we will ask the government of India for permission. If we fail, we will approach large, financially sound corporates and high net worth individuals, said G Goswami, IIBIs chairman-cum-managing director.In the first three months of the current fiscal, the bank has achieved a sizable increase in sanctions, said Goswami. IIBI will be concentrating on medium-scale projects as its niche business segment. Business will be taken up with existing profit-making companies as a part of its expansion/diversification.

The bank also plans to involve itself in priority sector projects such as medium-scale power generation, distribution and transmission facilities. Viable small-scale units, especially those operating as ancillaries to mega units in automobiles, polymers and related sectors, will also be covered by the bank.