IDBI Bank plans to raise $1 billion of debt resources from abroad over the next twelve months. This overseas borrowing would be in tranches and likely to be done under a medium term note (MTN) programme. Such a debt programme allows a company to have constant cash flows coming in from its debt issuance. IDBI Bank's board has already given its nod for fund raising of $ 1.5 billion through the MTN route. Last year, IDBI Bank had mopped up $350 million through bonds with a 5.5 years maturity.
On branch expansion, the bank plans to open atleast 200 branches in the next twelve months. This would help boost the current account savings account (CASA) deposits. IDBI Bank has a branch network of about 930 branches. The bank also plans to recruit 2,800-3,000 people over the next 12 months. Currently, IDBI Bank has a workforce of about 14,000.
