IDBI Bank to open 600 branches this fiscal

IDBI Bank is planning to open 600 branches this fiscal, taking its overall branch network to 2,000. In 2013-14, the public sector bank had added around 400 branches, with the overall size of the network of 1,400 branches as at end-March. Further, the bank is looking to add another 700 automated teller machines during this fiscal. As on date, IDBI Bank has a network of 2,300 ATMs, which is now proposed to be enhanced to 3,000 this fiscal. The bank posted a fall of 6.53% in its net profit after tax at Rs 518.23 crore for the quarter ended March 31, 2014 as compared to Rs 554.45 crore for the same quarter in the previous year. However, total income of the bank increased by 4.27% at Rs 7866.52 crore for quarter under review as compared to Rs 7543.78 crore for the quarter ended March 31, 2013.