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IDBI Bank disappoints

Mumbai, Feb. 1: IDBI Bank today reported a 75 per cent decline in net profit at Rs 103.96 crore in the December quarter against Rs 416.76 crore in the same period last year.

The drop in profit came on the back of a fall in other income, which slipped to Rs 532.06 crore from Rs 869.83 crore in the year-ago period.

The net interest income grew a modest 5 per cent to Rs 1,488.38 crore.

The gross non-performing assets (NPAs) rose to Rs 10,012.44 crore (Rs 6,401.43 crore), while the percentage of gross NPAs showed an increase to 5.44 per cent from 3.67 per cent last year.

Total business (deposits and advances) stood at Rs 3,72,387 crore as on December 31 against Rs 3,57,582 crore in the previous year.

 
 
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