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IDBI Bank expects lower loan, deposit growth
By siliconindia
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Friday, 10 July 2009, 23:00 IST
Kolkata: State-run IDBI Bank is expecting a loan disbursement growth of 18 percent and deposit growth of 20 percent this fiscal, considerably lower than that achieved in the last financial year, a top bank official said here Friday.
In 2008-09, its loan portfolio grew at 26 percent and deposit at 56 percent.
"The economy is not doing too well, so we can't expect the same growth to take place this year," IDBI chairman and managing director Yogesh Agarwal told reporters on the sidelines of the ongoing Banking Conclave.
The bank expects loans increased 15 percent year-on-year and deposits by 20 percent in the first quarter this fiscal.
The net interest margin of the bank is expected to be at one percent in 2009-10, up from the present 0.8 percent.
Talking about the bank's future plans, Agarwal said: "Reserve Bank of India has given us the permission to start an asset management company (AMC) and we are going through all the approvals required for that."
The AMC is expected to be set up in a year, he said, adding that IDBI has now applied for permission to set up a private equity venture.