State-run, IDBI Bank decides to open 200 new branches in the next six to nine months. With this set up, bank's branch network will increase to over 700 from its present number that stand at 507.

Deputy Managing Director of IDBI Bank, O V Bundellu said, "At present we have 507 branches in the country and have license for opening 200 more branches in 6 to 9 months time."

Bundellu further informed that the bank plans to make inroads in the retail loan segment. At the same time it has also decided to focus more on extending home loans, education loans, personal loans, mortgage loans and small and medium enterprise (SME) loans.

In order to develop its retail loan portfolio, the bank launched a three day long exhibition on housing finance ‘IDBI Bank Homes 2009' at Bhubaneswar. Initially the bank displayed such exhibition at New Delhi and Jaipur. It was the third out of the nine such events to be held at nine cities in the country.

Submitting the bank's business potential in Orissa, Bundellu informed that presently the bank has 6 branches in the state that includes a Retail Asset Centre (RAC) in Bhubaneswar. It now plans to start 6 new branches by June 2009 and another 8 branches within 18 months from now.

IDBI Bank is also going to expand its ATM network across the country. It has decided to set up 330 more ATMs thereby reaching to a total of 1200 in the coming six to nine months.

IDBI Bank is also in talks with some bidders for the sale of its home finance subsidiary, IDBI Home Finance.