IDBI opens centralized treasury in Mumbai

Mumbai, June 18 (UNI) Industrial Development Bank of India(IDBI) today launched its centralized state-of-the-art treasury, here.

The unit will deal with bank's investment portfolio, government securities, corporate bonds, money market and derivative instruments, equities, foreign exchanges and will also play as a key role in asset-liability management process, said a statement.

''The treasury currently has 50 trading terminals which will be expanded when required. Clients can avail of the products and services for their business growth.'', V.P. Shetty, IDBI chairman said.

The treasury will function as a single point reference on interest and exchange rates for all the 434 branches of IDBI and will also provide pro-active cash and interest rate risk management.

The bank has gained an aggregate balance sheet size of Rs 1,03,839 crore as on March 31, 2007 and registered a six per cent growth during January-March in net profits to Rs 213 Crore.

UNI