IDBI Bank Limited Announces Financial Results for the Quarter and Year Ended March 31, 2015

Highlights of Q4 FY 15 (March 31,2015) financial results vis-à-vis Q4 FY 14 (March 31, 2014)

• Business up 8% to Rs. 4,68,213 Crore (from Rs. 4,33,460 Crore)

• Deposits increased by 10% to Rs. 2,59,836 Crore (from Rs. 2,35,774 Crore)

• Advances up by 5% to Rs 2,08,377 Crore (from Rs 1,97,686 Crore)

• Total assets grew by 8% to Rs 3,56,031 Crore (from Rs 3,28,988 Crore)

• Net Interest Income(NII) for Quarter ended March 2015 up by 5% to Rs 1,660 Crore from  Rs 1,574 Crore for Quarter ended March 2014

• Net Profit for Quarter ended on March 2015 up by 5% to Rs 546 Crore from Rs 518 Crore for Quarter ended March 2014.

The Board of Directors of IDBI Bank Ltd. (IDBI) met in Mumbai today to consider the audited financial results for the year ended March 31, 2015 which are as under:

Working results: (Rs. Crore)

Profitability: IDBI reported a net profit of Rs 546 Crore for the quarter ended March 31, 2015 and Rs 873 Crore for year ended March 31, 2015 as against Rs 518 Crore for the quarter ended March 31, 2014 and Rs 1,121 Crore for year ended March 31, 2014. This was against the back drop of the full year effect of RIDF etc.

Total business (deposits and advances) as of March 31, 2015 stood at Rs 4,68,213 Crore as against Rs 4,33,460 Crore as of March 31, 2014 registering a growth of 8%.

Deposits increased to Rs 2,59,836 Crore as at end March 2015 from Rs 2,35,774 Crore as at end March 2014 reflecting a growth of 10%.

Advances also increased by 5% to Rs 2,08,377 Crore as at end March 2015 as compared to Rs 1,97,686 Crore as at end March 2014.

Aggregate assets as of March 31, 2015, stood at Rs 3,56,031 Crore as against Rs 3,28,988 Crore as of  March 31, 2014 registering a growth of 8%.

Gross NPA as on March 31, 2015 stood at 5.88% (Rs. 12,685 Crore) as compared to 5.94%    (Rs 12,140 Crore) as at December 31, 2014 .

Net NPA as on March 31, 2015 stood at 2.88 % (Rs 5,993 Crore) of net advances as compared to 3.05% (Rs 6,028 Crore) as at December 31, 2014.

CAR: The Bank's CAR stood at 11.76% (as per Basel III) as of March 31, 2015.

Significant developments from January to March 2015

• IDBI Bank launched ‘IDBI Bank Go Mobile’, its Mobile Banking Application, which is available on the android platform and can be downloaded from the Google Play Store. The Mobile Banking App greatly enhances the customer’s banking experience through a simple and user-friendly interface and also provides a range of services like funds transfer, bill payment, mobile / DTH recharge, instant funds remittance through IMPS and an account view across savings, current account, fixed / recurring deposits, loans and demat etc.

• IDBI Bank Brand value score registered a high growth of 79% in Brand Value from the previous year as per Brand Finance Banking 500 report. Globally, the ranking of IDBI Bank improved from 351 to 255 while in India the ranking improved from 11th to 9th position.

• In the Brand Trust Report 2015, IDBI Bank was ranked 2nd in the Bank PSU category, only after SBI.

• IDBI Bank signed an MoU with the Indian Army at New Delhi on banking facilities for Indian Army Personnel on the Defence Salary Package. The MoU will benefit a large number of serving and retired Army personnel who are having their accounts with IDBI; and also provide them an opportunity to access modern banking facilities.

• Marking a yet another milestone, IDBI Bank strengthened its network and reach in the country by inaugurating its 3000th ATM at Punjabi Bagh, New Delhi in tune with its philosophy of “Bank Aisa, Dost Jaisa‟. IDBI Bank connects with its customers through 1,717 branches, ATMs, internet banking, social media, 24 X 7 call center, e-lounge and mobile banking.

• IDBI Bank launched the ‘Rupay Platinum Debit card’ in association with National Payments Corporation of India (NPCI). The card fulfils the vision of RBI of offering a domestic, open-loop, multilateral payment system to all banks and financial institutions in India.

For more information, IDBI Results 2015, click here