IDBI Trusteeship Services becomes subsidiary company of IDBI Bank
Date: 03-10-2011IDBI Trusteeship Services has become a subsidiary company of IDBI Bank with effect from October 01, 2011, consequent upon the acquisition of 14.92% additional shareholding of IDBI Trusteeship Services by the bank.
Recently, IDBI Bank reported that it will lend over Rs 600 crore worth of loans to the infrastructure project funding firm - India Infrastructure Finance (IIFL) as part of a take-out finance pact between the two. IIFL will also float Rs 3,000 crore equity fund.
IDBI Bank is one of India’s leading sector banks with its operations driven by a cutting edge core Banking IT platform. The Bank offers personalized banking and financial solutions to its clients in the retail and corporate banking arena through its large network of branched and ATMs, spread across lengths and breadth of India.