trending Market Intelligence /marketintelligence/en/news-insights/trending/snNO_AuwzHfuGv1gIhnG-A2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

IDBI Bank to streamline banking, insurance businesses

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

IDBI Bank to streamline banking, insurance businesses

IDBI Bank Ltd. plans to streamline its banking and insurance businesses following its acquisition by Life Insurance Corp. of India, Press Trust of India reported March 10.

The bank is looking to take advantage of "mutual business synergies" by collaborating on the sale of Life Insurance Corp.'s short-term policies and management of premium receipts at IDBI branches, among other things.

IDBI Bank has been under the Reserve Bank of India's prompt corrective action framework framework due to the lender's high nonperforming asset level and negative return on assets. The initiatives are aimed at improving operations and financials to help turn the bank around.

The bank also appointed LIC a corporate agent of the bancassurance channel. The two entities will use a long-term investment strategy where they would use each other's resources. Common subsidiaries in mutual funds and life insurance arms will also be "rationalized" by both companies.

Further, IDBI Bank plans to sell 100 billion rupees worth of bad loans and boost efforts to recover delinquent debt after the central bank announced more stringent regulations, Bloomberg News reported March 10.

The lender has set up a task force that would monitor loans that display early signs of distress, said CEO Rakesh Sharma. IDBI Bank also plans raise 10 billion rupees in April through the sale of its holding in National Stock Exchange and National Stock Depository Ltd.

LIC acquired a 51% controlling stake in the bank in January.

As of March 11, US$1 was equivalent to 69.86 Indian rupees.