IDBI Bank Q3 FY 16 Results

Highlights of 9 Months FY 16 (Dec 31,2015) financial results vis-à-vis 9 months FY 15 (Dec 31, 2014)

- Business increased from Rs 4,30,502 Crore to Rs 4,43,615 Crore.

- CASA up by 15% to Rs 58,662 Crore (from Rs 51,033 Crore).

- Saving Bank Deposit up by 16% to Rs 34,425 Crore (from Rs 29,614 Crore).

- CRAR as per Basel III increased from 12.23% to 13%.

- High Cost Deposit down by 10% from Rs 1,16,003 Crore to Rs 1,04,699 Crore.

- Cost of Funds down from 7.88% to 7.29%.

- NIM up by 0.13%.

- Cost to Net Income down from 47.12% to 43.88%.

- NII increased by 14% to Rs 4,662 Crore.

- Fee Based Income up by 14%.

- Recoveries from written off A/Cs up by 219%.

- Operating Profit increased to Rs 3,775 Crore.

- Advances up by 6% to Rs 2,08,924 Crore (from Rs 1,97,303 Crore)

- Total assets increased from Rs 3,31,440 Crore to Rs 3,38,489 Crore.

- Net Loss during 9 months ended on December 2015, was at Rs 1,929 Crore against Net Profit Rs 327 Crore during nine months ended December 2014.

- GNPA increased to 8.94% from 5.94%.

- NNPA increased to 4.60% from 3.05%.

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, 2015 which are as under

Working results:                                                                                           ( Rs Crore)

Total business (deposits and advances) as of December 31, 2015 stood at Rs 4,43,615  Crore as against Rs 4,30,502  Crore as of December 31, 2014.

CASA increased by 15% to Rs 58,662 Crore from Rs 51,033 Crore.

Saving Bank Deposit up by 16% to Rs 34,425 Crore (from Rs 29,614 Crore).

CAR: The Bank's CAR (without considering nine months profits) increased to 13% (as per Basel III) as of December 31, 2015 from 12.23%.

High Cost Deposits (Bulk Deposits) down by 10% from Rs 1,16,003 Crore to Rs 1,04,699 Crore.

Cost of Funds has declined from 7.88% to 7.29%.

NIM increased from 1.83% to 1.96%.

Cost to Net Income down from 47.12% to 43.88%.

NII increased by 14% to Rs 4,662 Crore from Rs 4,088 Crore.

Fee Based Income up by 14% to Rs 1,476 Crore from Rs 1,298 Crore.

Recoveries from written off A/Cs up by 219% to Rs 83 Crore from Rs 26 Crore.

Operating Profit increased from Rs 3,239 Crore to Rs 3,775 Crore.

Advances also increased by 6% to Rs 2,08,924 Crore as at end December 2015 as compared to Rs 1,97,303 Crore as at end December 2014.

Aggregate assets as of December 31, 2015, stood at Rs 3,38,489 Crore as against

Rs 3,31,440 Crore as of  December 31, 2014 registering a growth of 2%.

Profitability: IDBI reported a net loss of Rs 2,184 Crore for the quarter ended December 31, 2015 and Rs 1,929 Crore for nine months period ended December 31, 2015 as against Rs 103 Crore for the quarter ended December 31, 2014 and Rs 327 Crore for nine months period ended December 31, 2014.

GNPA increased to 8.94% (from Rs 12,140 Crore to Rs 19,615 Crore).

NNPA increased to 4.60% (from Rs 9,613 Crore to Rs 6,028 Crore).

Significant developments from October 2015 to December 2015

• IDBI Bank launched a USD 350 million 5 year Reg S Green Bond issue on November 23, 2015.

• IDBI Bank set up a state-of-the-art Security Operations Centre (SOC) at its Data Centre, Belapur, Navi Mumbai.

• IDBI Bank executed a MoU with Mahila Arthik Vikas Mahamandal (MAVIM) on December 15, 2015. Under the arrangement, the Bank will offer credit facilities to SHG/JLGs, promoted and nurtured by Community Managed Resource Centers (CMRCs) of MAVIM for income generation activities.

• IDBI Bank received Rs.2,229 crore from the Government of India towards Preferential allotment of Equity Shares.

• IDBI Bank conducted ‘Kisan Sangosthi’ at various villages all over India to mark the celebration of ‘Farmers Day’ and to acknowledge the role played by the farming community in the economic development of the country.

• IDBI Bank was conferred the “Skoch Order-of-Merit” award during the 42^nd  Skoch Summit on 10th-11th December, 2015 for the project ‘Abhay Card’ which has been adjudged amongst the ‘Top 200 Smart Technology Projects in India’ for the year 2015. This project has been selected under the category “Technology for Growth – Innovations”.

• IDBI Bank received the Elets Financial Inclusion & Payment Systems (FIPS) Award for its Direct Benefit Transfer (DBT) initiative under Financial Inclusion during the year 2015.

• IDBI Bank was conferred Star Performance Award 2015 as Top Performer in new accounts opened under PSU-Bank Category by NSDL at its 30^th DP Conference on 5^th December 2015.