IDBI(Industrial Development bank of India) was founded on 1st july,1964 as a development financial institution and later in the year

2003 it was decided to transform it into a bank. Hence on 1st October 2004 IDBI bank Ltd. started functioning as a bank in addition to its earlier significant role of other financial institutional needs. On April 02, 2005 both IDBI bank and IDBI Ltd amalgamated to become one company. In May 07, 2008 united western bank merged with IDBI The bank is providing credit and other facilities for India's rapidly increasing industrial economy. It is a public sector bank providing financial services mainly in India. It also has its overseas branch at Dubai and is planning to set up its representative offices in various other countries across the globe .It provides specialized solutions in corporate banking, private banking ,investment banking, consumer banking, wealth management and various other financial product and services. It also deals in foreign exchange and global treasury.. Within a short span of 8 years the bank has spread over a network of 816 Branches and 1372 ATMs. The following is the distribution of no.of branches in different areas in India
Metro Urban Semi Urban Rural 263 366 231 93 1 954

Overseas
Total

IDBI Bank, with which the parent IDBI was fused and a new bank was generated is the greatest budding banking company in India. The bank initiated in adapting to policy of first mover in tier 2 cities. The Bank has one of the highest efficient output per employee in Indian banking industry. On 29 July 2004, the Board of Directors of IDBI and IDBI Bank accorded in standard authorizon to merge IDBI Bank with the Industrial Development Bank of India Ltd. to be shaped and incorporated under theCompanies Act, 1956 pursuant to the IDB (Transfer of Undertaking and Repeal) Act, 2003 (53 of 2003), subject to the approval of shareholders and other regulatory and statutory approvals. A mutually gainful proposition with positive implications for all stakeholders and clients, the merger process is expected to be completed during the current financial year ending 31 March 2005. The immediate fall out of the merger of IDBI and IDBI Bank was the exit of employees of IDBI bank.It currently employees 14000 individuals. The fusion in the two organizations have taken its toll. The IDBI Bank now is in a growing fold. With its retail banking arm mounting further after the merger of United western Bank.