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IDBI Bank surges on plan to enter into credit card segment

IDBI Bank Ltd. | Bank - Private | BFSI | BSE: 500116 | NSE: IDBI

21 Jan 2014 Evaluate

IDBI Bank is currently trading at Rs. 63.70, up by 0.60 points or 0.95% from its previous closing of Rs. 63.10 on the BSE.

The scrip opened at Rs. 63.20 and has touched a high and low of Rs. 64.00 and Rs. 63.20 respectively. So far 90541 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 114.80 on 21-Jan-2013 and a 52 week low of Rs. 52.30 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 65.65 and Rs. 62.75 respectively. The current market cap of the company is Rs. 8476.44 crore.

The promoters holding in the company stood at 76.50% while Institutions and Non-Institutions held 14.04% and 9.46% respectively.

IDBI Bank, the public sector lender is planning to enter into the credit card business by issuing credit cards to its customers. The bank intends to issue around five lakh cards in three years, of which one lakh will be issued in the first year and two lakh cards each in the following two years. In the beginning the bank will start with three types of card platinum, signature and corporate. The bank plans to issue EMV (Europay, MasterCard and Visa) chip cards with magnetic stripes.

The bank is also planning to appoint a third party service (TPS) provider for providing end-to-end solutions for credit card issuance under the outsourced model. The TPS provider will undertake operational activities relating to account updation, demographic changes, payment instructions and recurrent payment instructions.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1,217 branches and 2,101 ATMs.

IDBI Bank Share Price

75.07 0.78 (1.05%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
HDFC Bank	799.90
ICICI Bank	1347.50
Axis Bank	1359.15
Kotak Mahindra Bank	383.50
Indusind Bank	853.15
View more..

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IDBI Bank surges on plan to enter into credit card segment

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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