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IDBI Bank looking to enhance credit card portfolio

November 08, 2022

IDBI Bank looking to enhance credit card portfolio
IDBI Bank on October 21 reported a 46 percent year-on-year increase in standalone profit for the quarter ended September 30, despite a jump in provisions, backed by healthy growth in net interest income and operating performance.

The bank’s bad loan ratio improved, with gross non-performing assets (NPA) as a percentage of gross advances falling more than 3 percentage points to 16.51 percent from the previous quarter.

More than a year after coming out the Reserve Bank of India’s Prompt Corrective Action (PCA) framework, the private sector lender is gearing up for a new ownership.

While the bank has turned profitable and brought down bad loans, it has also focused on becoming a retail-focused enterprise.

In an exclusive interview with Moneycontrol, Deputy Managing Director Suresh Khatanhar spoke about the bank’s strategy to scale up retail growth, venture into digital lending and relationship with fintechs.

He also said the bank will continue to mobilise deposits to fund credit growth but may not go for any capital raising in this financial year because its liquidity situation is comfortable.

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