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IDBI
Bank acquires BNP’s merchant portfolio
Our Banking
Bureau
14 September 2002
 Mumbai:
IDBI
Bank has acquired a portfolio of over 2,500 merchant establishments
from BNP Paribas, the French bank.
This acquisition
is in anticipation of the bank’s launch of its debit card.
The bank’s Visa Electron Debit Card is to be issued to
the bank’s over-6,40,000 customer accounts.
Following the French
bank’s exit from retail banking a few months ago, the
merchant-acquiring portfolio, spread across seven cities,
was seen redundant.
The merchant acquiring
business is estimated at Rs 10,000 crore  per
annum and is expected to grow at 25-30 per cent annually.
List of reports on IDBI
Bank
List of reports
on BNP Paribas
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