Mumbai, Maharashtra, India
Highlights of Q3 FY 15 (Dec 31,2014) financial results vis-à-vis Q3 FY 14 (Dec 31, 2013)
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Business up 16% to Rs. 4,30,502 Crore (from Rs. 3,72,387 Crore)
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Deposits increased by 20% to Rs. 2,33,199 Crore (from Rs. 1,93,858 Crore)
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Advances up by 11% to Rs. 1,97,303 Crore (from Rs. 1,78,528 Crore)
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Total assets grew by 13% to Rs. 3,31,387 Crore (from Rs. 2,92,255 Crore)
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Net Profit during quarter ended December 2014, was lower at Rs. 103 Crore against Rs. 104 Crore during quarter ended December 2013.
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Net Profit during 9 months ended on December 2014, was lower at Rs. 327 Crore against Rs. 603 Crore during nine months ended December 2013.
The Board of Directors of IDBI Bank Ltd. (IDBI) met in Mumbai today to consider the unaudited financial results for the quarter ended December 31, 2014 which are as under:
Working results: (Rs. Crore)
Particulars
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Q3
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Q3
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9 mths
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9 mths
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FY
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2014-15
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2013-14
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2014-15
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2013-14
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2013-14
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Total Income
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7936
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7150
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22779
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21710
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29576
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Interest income
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7159
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6618
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20742
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19882
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26597
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Non-Interest Income
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777
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532
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2037
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1828
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2979
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Total Expenses
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6822
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5910
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19540
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17879
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23895
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Interest expenses
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5728
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5129
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16654
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15435
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20576
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Operating expenses
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1094
|
781
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2886
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2444
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3319
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Operating Profit
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1114
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1240
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3239
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3831
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5681
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Provisions (net)
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1011
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1136
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2912
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3228
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4560
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Net Profit
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103
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104
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327
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603
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1121
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Profitability: IDBI reported a net profit of Rs.103 Crore for the quarter ended December 31, 2014 and Rs. 327 Crore for nine months period ended December 31, 2014 as against Rs. 104 Crore for the quarter ended December 31, 2013 and Rs. 603 Crore for nine months period ended December 31, 2013.
Total business (deposits and advances) as of December 31, 2014 stood at Rs. 4,30,502 Crore as against Rs. 3,72,387 Crore as of December 31, 2013, registering a growth of 16%.
Deposits increased to Rs. 2,33,199 Crore as at end December 2014 from Rs.1,93,858 Crore as at end December 2013, reflecting a growth of 20%.
Advances also increased by 11% to Rs. 1,97,303 Crore as at end December 2014 as compared to Rs. 1,78,528 Crore as at end December 2013.
Aggregate assets as of December 31, 2014, stood at Rs. 3,31,387 Crore as against
Rs. 2,92,255 Crore as of December 31, 2013, registering a growth of 13%.
CAR: The Bank's CAR (without considering nine months profits) stood at 12.23% (as per Basel III) as of December 31, 2014.
Significant developments during October 2014 to December 2014
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IDBI Bank’s first Basel III compliant Additional Tier – I (AT - I) bonds amounting to Rs. 2,500 Crore (Rs. 1,500 Crore with an option to retain over-subscription upto Rs. 1,000 Crore) received an overwhelming response and has been fully subscribed prior to the closure date.
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As per Brand Finance Banking 500 - the World’s most valuable Banking Brands Report published by Brand Finance- there has been a significant rise of 79% in the valuation of the IDBI Bank Brand over the previous year. Globally, the ranking of IDBI Bank has improved from 351 to 255 while, in India, the ranking has improved from 11th to 9th position. In terms of year on year increase in brand value, in percentage terms, among Indian Banks, IDBI’s rise is the second highest at 79%. In terms of year- on-year improvement in ranking among Indian Banks, IDBI Bank has shown the highest improvement- by 96 positions.
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IDBI Bank became the 1st PSU Bank to launch (Electronic-Insurance Account) e-IA facility. e-IA is the portfolio of insurance policies of a policy holder held in electronic form with an insurance repository. Under this facility, customers can buy and keep insurance policies in electronic form, rather than as a paper document. The existing policies in physical mode too can be dematerialized and held in the e-IA mode.
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IDBI Bank allied with the Indian Air Force (IAF) for Channel Swimmathon as a part of IAF’s 82nd anniversary celebration. IAF’s Channel Swimming Team ‘Delphinus’ successfully completed the extreme endurance Swimmathon, the longest open water swim in Asia. On successful completion of the swim, the team has set the records for – the Longest open water swim in Asia, First ever swim around Mumbai in clockwise direction, the Longest swim ever in the Arabian Sea and the Longest swim ever by any Armed Forces in the World.
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IDBI Bank inaugurated the first e-lounge branch at Fafadih in Chhattisgarh, Raipur in a step to strengthen its network and banking services in Chhattisgarh. At this e-lounge, which is a self-service lounge, banking services will be taken to a different plane, with a high-end technology platform meeting most of the banking requirements through simple and intuitive interface on self-service terminals.
For detailed results table, click here
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