IDBI Bank don't see any 'material impact of Covid-19' on future results

LIC-owned IDBI Bank on Wednesday said despite challenges arising out of the Covid-19 pandemic, it does not see any material impact on its financial results going ahead.

The implementation of lockdown and extensions has resulted in disruptions of business and common life, the lender said in a filing to the exchanges.

The major identified challenges for bank borrowers across various industry sectors is expected to arise from eroding cash flows and elongated working capital cycles, it said.

"Despite these events and conditions, our results in future are not expected to be materially adverse nor would have any significant impact on the going concern