``We are in the process of appointing issue managers. The timing and pricing will be decided in due course,'' senior vice-president (corporate planning, HRD and administration) AA Khanolkartold said.

The bank, promoted jointly by IDBI and Small Industries Development Bank of India, celebrated its 3rd anniversary on Friday by opening three more semi-urban branches at Margao (Goa), New Panvel (Maharashtra) and Sarakki Lake (Karnatka).

With this, Khanolkar said the bank had now a total of 25 branches in the country and added that a semi-urban branch would be opened at Kottayam in Kerala shortly, completing the bank's first phase of expansion.

According to him, the deposits grew from Rs 505 crore as on March 31 last year to Rs 2,515 crore as on September 30 this year and the advances increased from Rs 495 crore to Rs 1,175 croreduring the same period.

To a query, Khanolkar said the bank had no immediate plans to enter the credit card market.