IDBI Bank is planning to focus more on growing its retail portfolio without losing sight of its corporate clients. Though being the sixth largest public sector bank in the country, it has only 972 branches. Saying that this is not a small number for an eight-year-old bank, K. Ramaswamy, Chief General Manager, Personal Banking Group, IDBI Bank, said during the current financial year it will launch 160 branches across the country.
Besides, to increase its brand visibility, it proposes to spend a substantial amount on advertising. To lure more retail consumers, the bank intends offering more customised products. According to Ramaswamy, as far as the retail loans are concerned, the bank’s unique selling proposition is its shortest processing time. In 2011-12, the bank reported a total business of Rs 3.91-lakh crore. Gross NPA (non-performing asset) stood at 2 per cent and net NPA at 1.6 per cent as on March 31, 2012.
Of the total business, Rs 1.8-lakh crore was advances and Rs 2.1-lakh crore, deposits. One-third of the advances was from its retail portfolio.
“For the current financial year, the thrust will be on growing this part of the business,” he said.