IDBI Bank is in discussions with the Government to examine various fund raising options including a rights issue to fuel its expansion plans in the next two-three years, a top official of the bank said on Friday. "We have approached the Government to evaluate various options including a rights issue to meet the capital requirements in the next 2-3 years," IDBI Bank's Chief Financial Officer R K Bansal said. IDBI Bank's fund requirement over the next 2-3 years will be around Rs 7,000 crore, that would help the banking major to finance its growth plans including overseas expansion, Bansal said. The bank is also considering Tier-I and Tier-II routes to raise funds, Bansal said. Government owns nearly 53 per cent stake in the bank. IDBI Bank has targeted a loan growth of 20 per cent in the current fiscal. It has a capital adequacy ratio of 11.57 per cent.
Source: Economic Times
Showing posts with label idbi bank. Show all posts
Showing posts with label idbi bank. Show all posts
Saturday, April 25, 2009
Sunday, March 15, 2009
IDBI Bank likely to acquire a bank
Public sector lender IDBI Bank Ltd is in talks to buy a bank and expects to complete the acquisition in FY10, reports DNA. IDBI is looking for a bank which can provide more retail strength and fit into IDBI in terms of technical and staff skills, said its chairman and MD YogeshAgarwal.
The bank is looking to expand its retail presence and branch network and has also set funds aside for acquisition. The bank is currently the eighth largest and plans to be fifth largest by 2012 by using both organic and inorganic route.
The bank is on an expansion spree and recently got a licence from Reserve Bank of India to open 200 branches. It presently has 500 branches.
The bank will also finalise the sale of IDBI Home Finance to Dewan Housing Finance when it gets the government approval. The Wadhawan group promoted company has offered to buy IDBI's home finance arm for Rs 325 crore.
IDBI Bank has been formed after merger of three units - IDBI, IDBI Bank and United Western Bank of Satara.
The bank is looking to expand its retail presence and branch network and has also set funds aside for acquisition. The bank is currently the eighth largest and plans to be fifth largest by 2012 by using both organic and inorganic route.
The bank is on an expansion spree and recently got a licence from Reserve Bank of India to open 200 branches. It presently has 500 branches.
The bank will also finalise the sale of IDBI Home Finance to Dewan Housing Finance when it gets the government approval. The Wadhawan group promoted company has offered to buy IDBI's home finance arm for Rs 325 crore.
IDBI Bank has been formed after merger of three units - IDBI, IDBI Bank and United Western Bank of Satara.
Friday, March 13, 2009
Dewan Housing to acquire IDBI Bank's housing arm
The bank is going to sell housing arm to Dewan Housing for Rs 325 crore if government approves, reports NewsWire18. Awaiting further details.
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