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IDFC Bank planning to increase retail lending

IDFC Bank is planning to increase its retail lending to Rs 300-400 crore a month in the next two quarters from Rs 260 crore now, helped by its network expansion and stronger focus on retail business.

The bank is also making good progress on the CASA front and the portfolio grew to about Rs 3,000 crore in the first quarter of this fiscal, from about Rs 870 crore in the year-ago quarter. The bank is now acquiring 80,000 retail customers a month, who bring in an average savings of Rs 10,000-11,000 per account. As the bank continues to increase the number of branches and expand its network, it aims to double the monthly acquisition of customers.

In the next 36 months, the bank is planning to increase the number of branches to 300-400 from 86 now. Banking outlets will be ramped up to over 3,000, from 358 now.

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