Live
- Iran condemns G7 claims against its nuclear activities
- J&K: Trial run begins on world's highest railway bridge in Chenab, rail services to begin soon
- Smriti, Deepti & Pooja did the work of contributing for the team: Harmanpreet Kaur
- Act tough to save youth from drug menace, Punjab BJP chief tells CM
- First trial run of Sangaldan-Reasi train on USBRL successfully completed
- Union Home Minister directs security forces to ensure safe, smooth, incident-free Amarnath Yatra
- BJP conspiring against Delhiites to create water crisis, alleges Atishi
- 1st ODI: Mandhana, Sobhana help India decimate South Africa by 143 runs
- Bengal BJP leader's relative apologises again for his derogatory comments on Amit Malviya
- Additional central forces deployed in Manipur's violence-hit Jiribam district, relief material distributed
IDBI looks to focus on retail business
IDBI Bank, which has been put under watch by the Reserve Bank of India on asset quality issues, on Thursday, said it launched an aggressive turnaround strategy with a focus on building a robust retail portfolio.
Hyderabad: IDBI Bank, which has been put under watch by the Reserve Bank of India on asset quality issues, on Thursday, said it launched an aggressive turnaround strategy with a focus on building a robust retail portfolio. Enhancing capital base and strengthening customer relationship are also part of its strategy, going forward.
In fact, the bank has also made some headway as evidenced in the rising share of retail advances to 43 per cent at the end of March 2017 from 33 per cent a year ago. “The bank’s CASA deposits as well as retail term deposits both grew by over 22 per cent during the year.
Also, the share of CASA deposits and retail term deposits increased to over 31 per cent and 32 per cent respectively during the year,” Pothukuchi Sitaram, Executive Director, IDBI Bank, told the media here.
In the Hyderabad Zone, the bank witnessed a 13.76 per cent jump in the customer base from 9.33 lakh to 10.62 lakh. The CASA (Current Account Savings Account) deposits and term deposits registered a growth of 43.4 per cent (to Rs 673.32 crore) and Rs.391.56 crore (25.20 respectively) respectively. The retail loan portfolio has grown 6.10 per cent in the last fiscal.
Meanwhile, the bank had sets up a special department for managing bad loans and monitoring credit. Besides, in an attempt to fulfil capital conservation buffer norms, it may raise about Rs 5,000 crore by selling non-core assets in the current fiscal.
"At the head office level, we have set up a separate department what we call it a NPA management and credit monitoring group. It consists of experienced people from both corporate and retail. They are giving focused attention on each case of NPA," he said.
