IDBI scouting for buyouts, two banks on radar

After acquiring United Western Bank three years ago, IDBI Bank is now once more on the prowl for acquisitions. The bank has identified two Indian lenders as possible acquisition targets. While the company did not divulge the identities of the two banks, the talks were on between them and IDBI Bank.

The move assumes significance as the Central government is understood to be inclined towards consolidation in the Indian banking sector. The bank has now dropped its earlier plan to sell its Pune-based home loan subsidiary, IDBI Home Finance Ltd (IHFL).