Idbi Bank Q2 Net Up 9.2%

IDBI Bank today reported a net profit of Rs 16.1 crore in the second quarter of fiscal 2003, posting a rise of 9.2 per cent over the corresponding quarter of last year.

Even though interest income increased by only 2.5 per cent and treasury income actually dropped, the rise in fee income and lower provisioning (Rs 5.1 crore against Rs 14.1 crore earlier) helped the bank boost its bottomline.

The IDBI Bank capital adequacy ratio is at 9.05 per cent, just above the stipulated nine per cent.

The bank said notwithstanding the delay in augmentation of capital, growth in net interest income and fee-based income enabled it to record increased profits.

 

Net interest margin remained stable above 250 basis points.