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IDBI Bank Q2 FY15 and Half Yearly Results | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mumbai, Maharashtra, India Highlights of Q2 FY 15 (Sept 30,2014) Financial Results Vis-à-Vis Q2 FY 14 (Sept 30, 2013)
The Board of Directors of IDBI Bank Ltd. (IDBI) met in Mumbai today to consider the unaudited financial results for the quarter ended September 30, 2014, which are as under:
Working results: ( Rs. in Crore)
Profitability: IDBI Bank reported a net profit of Rs.. 225 Crore for the 6 months ended September 30, 2014 as against a net profit of Rs. 499 Crore in the corresponding period of previous year. IDBI reported a net profit of Rs. 118 Crore for the quarter ended September 2014 as against Rs. 106 Crore for the quarter ended June 2014 and Rs. 192 Crore in the corresponding quarter ended September 2013 of previous year. The profitability for the current quarter/ half year has been largely affected by higher contributions to RIDF & other priority sector deposits. If these amounts had been deployed in regular business, it is estimated that PAT for Q2 FY 15 would have been higher by Rs. 187 Crore and for HY FY 15 would have been higher by Rs. 374 Crore.
Total business (deposits and advances) as of September 30, 2014 stood at Rs. 4,33,062 Crore as against Rs.3,86,145 Crore as of September 30, 2013, registering a growth of 12.15%.
Deposits increased to Rs. 2,38,006 Crore as at end- September 2014 from Rs. 2,02,559 Crore as at end- September 2013, reflecting a growth of 17.50%.
Advances also increased by 6.25% to Rs. 1,95,057 Crore as at end September 2014 as compared to Rs. 1,83,586 Crore as at end- September 2013.
Aggregate assets as of September 30, 2014, stood at Rs. 3,28,947 Crore as against Rs. 2,97,451 Crore as at September 30, 2013, registering a growth of 10.59% .
Capital Adequacy Ratio (CAR) of the Bank (without considering half yearly profits) stood at (as per Basel III) 11.71% as of September 30, 2014. IDBI Bank made its first Basel III compliant Additional Tier – I (AT - I) bonds amounting to Rs. 2,500 Crore in October 2014. The amount mobilised would be counted as a part of Tier I capital and accordingly the capital adequacy of the Bank would be 12.62%. An amount of Rs. 1,000 Crore was mobilized through private placement of infrastructure bonds viz., IDBI Omni Infrastructure Bonds 2014-15 Series I, in terms of RBI circular no. DBOD.BP.BC.No.25/08.12.014/2014-15 dated July 15, 2014, on “Issue of Long-Term Bonds by Banks – Financing of Infrastructure and Affordable Housing”. The issue opened for subscription on September 8, 2014 and closed on September 12, 2014. The funds so mobilised will not attract CRR, SLR requirement and would be knocked off from ANBC calculations for the compliance of priority sector lending.
Significant developments during FY 2014-15 (July 2014 – September 2014)
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