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IDBI Bank Q3 net profit at Rs 104 crore, total assets grow by 7%

Feb 03 2014, 11:24 IST
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IDBI Bank has declared an interim dividend of Rs 0.725 per share for the financial year 2013-14. IDBI Bank has declared an interim dividend of Rs 0.725 per share for the financial year 2013-14.
SummaryTotal business (deposits and advances) of IDBI Bank as of December 31, 2013 stood at Rs 3,72,387 cr.

IDBI Bank Ltd on Monday reported a net profit of Rs 104 crore for the quarter ended December 31, 2013 as against Rs 417 crore for the same quarter ended December 31, 2012.

Total business (deposits and advances) of IDBI Bank as of December 31, 2013 stood at Rs 3,72,387 crore as against Rs 3,57,582 crore as of December 31, 2012 registering a growth of 4%. Deposits increased to Rs 1,93,858 crore as at end December 2013 from Rs 1,86,623 crore as (y-o-y), reflecting a growth of 4%.

Advances also increased by 4% to Rs.1,78,528 crore as at end December 2013 as compared to Rs 1,70,959 crore as at end December 2012.

Aggregate assets as of December 31, 2013, stood at Rs 2,92,297 crore as against Rs 2,73,358 crore as of December 31, 2012 registering a growth of 7%.

The IDBI Bank's CAR (without considering nine months profits) stood at 12.71% (as per Basel III) as of December 31, 2013.

The Bank has made Preferential Allotment of Shares to Govt. of India in terms of the approvals of the Board and regulatory approvals from BSE / NSE and SEBI. Accordingly allotment of 27,11,66,013 equity shares of Rs. 10 each to Govt. of India was made on December 30, 2013 at a price of Rs.66.38 per share aggregating to Rs.1800 crore.

Board of Directors at its meeting held on January 13 has declared an interim dividend of Rs 0.725 per share for the financial year 2013-14.

Highlights of Q3 FY 14 (Dec 31,2013) financial results vis-ŗ-vis Q3 FY 13 (Dec 31, 2012)

* Business up 4% to Rs 3,72,387 crore (from Rs 3,57,582 crore)

* Deposits increased by 4% to Rs 1,93,858 crore (from Rs 1,86,623 crore)

* Advances up by 4% to Rs.1,78,528 crore (from Rs.1,70,959 crore)

* Total assets grew by 7% to Rs.2,92,297 crore (from Rs 2,73,358 crore)

* Net Interest Income (NII) for nine months ended December 2013 up 13% to Rs.4,447 crore from Rs 3,933 crore for nine months ended December 2012

* Net Profit during 9 months ended on December 2013, was lower at Rs 603 crore against Rs.1,328 crore during nine month ended December 2012- driven mainly by increased provisioning for NPL and Investments.

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