State-owned IDBI Bank?s net profit for the quarter ended June 30, 2009 rose by around 8% to Rs 172 crore as against Rs 160 crore profit earned by the bank during the corresponding quarter in fiscal 2008-09.

The total income of the bank for first quarter of the current fiscal increased by around 53% to Rs 4,219 crore as against Rs 2,756 crore income earned by the bank during the corresponding period in the last financial year.

Net interest income for the quarter ended June 30, 2009 stood at Rs 316 crore as against Rs 91 crore in the corresponding quarter of the previous year, recording a growth of 249%. Fee based income earned during the same quarter rose to Rs 252 crore as against Rs 152 crore in the previous quarter, recording a growth of 65%. The bank?s provisioning other than tax and contingencies for first quarter of the current fiscal increased by around fifteen times to Rs 360 crore as against Rs 37 crore provisioning done by the bank during the corresponding period in the last fiscal.

IDBI Bank has conveyed that with respect to the observation made by the statutory auditors in their audit report for the financial year ending March 31, 2009, regarding classification of advance to a large power project in Maharashtra as standard, pending completion of restructuring and receipt of special regulatory treatment from Reserve Bank of India, the restructuring of the advance has been completed and provision for diminution in fair value has been made during the quarter, in accordance with the extant guidelines of the regulator.

Deposits of the bank increased to Rs 1,15,554 crore at end of June 2009 from Rs 72,717 crore at end of June 2008, with a growth of 59%. Advances of the bank increased by 25% to Rs 97,955 crore at end of June 2009, as compared to Rs 78,115 crore at end of June 2008.

As on June 30, 2009, IDBI Bank?s total business stood at Rs 213509 crore as against Rs 150832 crore as on June 30, 2008, registering a growth of 42%.

As on June 30, 2009, the aggregate assets of IDBI Bank stood at Rs 174608 crore as against Rs 130410 crore as on June 30, 2008, registering a growth of 34%.

The bank?s net NPA and capital adequacy ratios as on June 30, 2009 were 1.23% and 12.30%.

South Indian Bank net at Rs 60 cr

Private lender South Indian Bank said its net profit rose by 55.64% to Rs 60.11 crore for the quarter ended June in current fiscal, over the same period last year.

The company had a net profit of Rs 38.62 crore in the same quarter ended June 2008, the Kerala-based bank said in a filing to the Bombay Stock Exchange. Total income rose to Rs 521.24 crore for the quarter ended June 30, 2009, against Rs 405.89 crore in the same quarter last year.

Shares of South Indian Bank were trading at Rs 97.30 on the BSE, up 3.07% from previous close.