IDBI Bank's Zonal Office at Chandigarh was inaugurated today by its chairman and managing director, M.S. Raghavan. The new Zonal Office is a step towards empowering the bank's regional network and encouraging business opportunities in the region. The newly opened Zonal Office is in tune with the Bank’s strategy to provide further autonomy to understand the local needs and extend financial assistance to the region. In addition to this, the zonal centre will also play a vital role in helping the Bank achieve its goal of expanding its retail loan and MSME loan portfolio.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking Information Technology platform with strong service orientation. This enables the bank to offer personalized banking and financial solutions to its clients.
The bank offers attractive schemes for expanding its retail portfolio. IDBI Bank has one of the largest housing loan portfolios amongst PSB's and offers housing loans at existing base rate to its existing and new customers with nil processing fees. The Bank offers very competitive rates to the MSME segment wherein it has schemes for wholesale and retail traders, manufacturers, professionals & self-employed, medical practitioners and vendors of large and medium corporate. IDBI Bank also has a strong focus on agriculture sector and allied activities in the Zone through its customized products, competitive pricing and personalized services.
Speaking on the occasion, M.S. Raghavan, chairman and managing director, IDBI Bank, said, ''The establishment of our Zonal Office is in consonance with the banks' philosophy of decentralization of decision making to provide localized solutions and superior service to our esteemed customers. This Zone is part of one of the most economically developed regions of the country. The new Zonal set up will enable IDBI Bank to be a partner for all our clients to achieve their dreams.''
Shares of the bank gained Rs 3.55, or 5.16%, to settle at Rs 72.40. The total volume of shares traded was 789,499 at the BSE (Friday).
