Mumbai, Maharashtra, India
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Business up 13% to Rs. 445668 Crore (from Rs. 394924 Crore)
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Deposits increased by 15% to Rs. 241328 Crore (from Rs. 210343 Crore)
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Advances up by 11% to Rs. 204339 Crore (from Rs. 184581 Crore)
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Total assets grew by 11% to Rs. 342016 Crore (from Rs. 309317 Crore)
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NII grew by 19% to Rs. 1494 Crore (Q1 of FY 2015 Rs. 1251 Crore)
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Net Profit during the quarter ended June 2015, was at Rs. 135 Crore against Rs. 106 Crore during the quarter ended June 2014
The Board of Directors of IDBI Bank Ltd. (IDBI) met in Mumbai today to consider the unaudited financial results for the quarter ended June 30, 2015, which are as under:
Working results:
(Rs. in Crore)
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Q1 2015-16
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Q1 2014-15
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FY 2014-15
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Total Income
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7903
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7233
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32162
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Interest income
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7261
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6733
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28154
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Non-Interest Income
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642
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500
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4008
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Total Expenses
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6765
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6304
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26434
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Interest expenses
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5767
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5482
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22406
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Operating expenses
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998
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822
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4028
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Operating Profit
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1138
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929
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5728
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Provisions (net)
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1003
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823
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4855
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Net Profit
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135
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106
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873
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Profitability: IDBI reported a net profit of Rs. 135 Crore for the quarter ended June 30, 2015 and Rs. 873 Crore for year ended March 31, 2015 as against Rs. 106 Crore for the quarter ended June 30, 2014 registering a growth of 27%.
Total business (deposits and advances) as of June 30, 2015 stood at Rs. 445668 Crore as against Rs. 394924 Crore as of June 30, 2014 registering a growth of 13%.
Deposits increased to Rs. 241328 Crore as at end June 2015 from Rs. 210343 Crore as at end June 2014 reflecting a growth of 15%.
Advances also increased by 11% to Rs. 204339 Crore as at end June 2015 as compared to Rs. 184581 Crore as at end June 2014.
Aggregate assets as of June 30, 2015 stood at Rs. 342016 Crore as against Rs. 309317 Crore as of June 30, 2014 registering a growth of 11%.
CAR: The Bank's CAR stood at 11.74% (as per Basel III) as of June 30, 2015.
Gross & Net NPAs: The Bank’s Gross NPAs stood at 6.64 % and Net NPAs stood at 3.18% as of June 30, 2015.
Significant developments from April to June 2015
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IDBI Bank in association with National Payments Corporation of India (NPCI) launched the ‘Rupay Platinum Debit card’, which enables cost-effective, fast and secure access to large number of ATMs, POS terminals, e-commerce websites and participating merchant establishments across the country.
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IDBI Bank’s loans, linked to Base Rate became cheaper following a 25 bps reduction in its Base Rate to 10% with effect from May 11, 2015. IDBI Bank took this pro-active step, keeping in view the recent policy measures announced by the RBI.
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IDBI Bank received Elets Knowledge Exchange Award 2015 under Financial Inclusion Initiatives – PSU category by Elets Technomedia. Elets Awards recognises the seminal role that various organizations have been playing in the areas of Financial Inclusion, Banking Technology, Payment Systems, Mobile Banking, Health Insurance and other verticals.
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