IDBI Bank Q2 FY17 Results

Highlights of Q2 FY 17 (Sept30, 2016) financial results vis-à-vis Q2 FY 16 (Sept 30, 2015)

• Business up 9.10% to INR 4,84,337Crore (from INR 4,43,943Crore)

• Deposits increased by 11.03% to INR 2,65,679 Crore (from INR 2,39,282 Crore)

• Advances up by 6.84% to INR 2,18,658 Crore (from INR 2,04,661Crore)

• CASA increased by 27.08% to INR 73,561Crore (from INR 57,887 Crore)

• Total assets grew by 11.25% to INR 3,76,527 Crore (from INR 3,38,458 Crore)

• Net Interest Income (NII) for half year ended September 2016 increased by 6.64% to

• INR 3,312 Crore from INR 3,106 Crore for half year ended September 2015.

• Operating Profit increased by 13.14% for half year ended September 2016 to INR 3,006 Crore from INR 2,657 Crore for half year ended September 2015.

• Net Profit for half ended September 2016 increased by 16.47% to INR 297 Crore from INR 255 Crore for half year ended September 2015.

The Board of Directors of  IDBI Bank Ltd. (IDBI) met in New Delhi today to consider the unaudited financial results for the quarter ended September 30, 2016 which are as under:

Working results: 

Statement of Profit & Loss  ( `in Crore)

Statement of Assets&Liabilities (`inCrore)

Profitability: IDBI reported a net profit of INR 297 Crore for the half year ended September 30, 2016 as against INR 255 Crore for the half year ended September 30, 2015.

Total business (deposits and advances) as of September 30, 2016 stood at INR 4,84,337 Crore as against INR 4,43,943 Crore as of September 30, 2015 registering a growth of 9.10%.

Deposits increased to INR 2,65,679 Crore as at end September 2016 from INR 2,39,282 Crore as at end September 2015 reflecting a growth of 11.03%.

Advances also increased by 6.84% to INR 2,18,658 Crore as at end September 2016 as compared to INR 2,04,661Crore as at end September 2015.

Aggregate assets as of September 30, 2016, stood at INR 3,76,527 Crore as against INR 3,38,458 Crore as at September 30, 2015 registering a growth of 11.25%.

Gross NPA as on September 30, 2016 stood at 13.05% (INR 30,134 Crore) as compared to 11.92% (INR 27,275 Crore) as at June 30, 2016.

Net NPA as on September 30, 2016 stood at 8.32% (INR 18,195 Crore) of net advances as compared to 7.47% (INR 16,248 Crore) as at June 30, 2016.

CAR: The Bank's CAR stood at 11.64 % (as per Basel III) as of September 30, 2016.

Significant developments during July to September 2016

• IDBI Bank reduced its Marginal Cost of Funds based Lending Rates (MCLR) w.e.f. July 01, 2016.

• IDBI Bank reduced its Base Rate from 9.75% p.a. to 9.65% p.a. The Benchmark Prime Lending Rate (BPLR) was also reduced from 14.25% p.a. to 14.15% p.a., effective from August 01, 2016.

• IDBI Bank Limited issued its second tranche of Basel III compliant Additional Tier 1 (AT1) bonds amounting to Rs.1,500 crore.

• Deutsche Bank, Germany, honoured IDBI Bank with “2015 USD STP Excellence Award” in recognition of the Bank’s operational efficiency and quality of payment messages routed through the nostro accounts maintained with them.