Page 24 - Idbi Bank

IDBI Bank Loss widens to Rs 56.6 billion as NPAs touch 28%

Government-owned IDBI Bank's net loss widened to Rs 56.6 billion in the March quarter, on a sizable Rs 107.8 bn provision for bad loans.The quarterly loss, the sixth in a row, was deeper than the Rs 31.9 bn in the same period last year. For the full year ended March 2018, the net loss is Rs 82.4 bn, against one of Rs 51.6 bn in 2016-17.However, operating profit for the quarter (fourth or Q4 of 2017-18) more than doubled to Rs 23.6 bn, from Rs 10.4 bn in Q4 of 2016-17.Its gross non-performing assets (NPAs) stood at 27.95 per cent of total advances. The latter proportion is second highest in the history of Indian banking, next only to its own GNPA of 30 per cent in the quarter ended December 2003. In fact, that gross NPA figure is far lower than the Reserve Bank's (RBI's) calculation, of Rs 550.3 bn, as against the bank's assessment of Rs 447.5 bn.IDBI is already under RBI's 'prompt corrective action' framework. Its provisioning for NPAs rose to Rs 107.7 bn, from Rs 60.5 bn in the same .

IDBI Bank Q4 net loss widens to Rs 56.63 bn on rise in provisions

IDBI Bank's gross NPA soared to 27.95 per cent of its loans at March 2018-end compared to 21.25 per cent at the end of March 2017

Two independent directors quit IDBI days after FIR in Aircel loan case

Ninad Karpe and S Ravi, were named in the FIR filed by the CBI in connection with a Rs 6 bn loan given by the bank to former Aircel promoter C Sivasankaran, his son and companies controlled by him

IDBI Bank fraud case: CBI probes documents on loans to Aircel ex-promoter

The bank had initiated recovery actions to recover dues from the borrower in August 2016, it said

IDBI Bank prepares roadmap for NPA reduction, improving financial health

Strategies have been drawn to ensure that the NPAs are reduced in a structured manner by taking help of Insolvency and Bankruptcy Code (IBC) and other means

IDBI Bank mulls buyback of $1-bn overseas bonds as part of turnaround plan

The buyback activity would be spread over quarters and would be done in small tranches for reasons of absorption

IDBI Bank: High NPAs, new bad loan rules seen offsetting inflows

Recently, the lender sold a commercial building for Rs 9 billion, taking the total non-core asset sales to over Rs 41 billion in FY18

RBI's Rs 30-mn penalty not to have any material impact: IDBI Bank

According to a BSE filing by IDBI Bank, the RBI imposed a Rs 30 million penalty on it for non-compliance of IRAC norms

IDBI Bank sells property at Bandra-Kurla Complex to Sebi for Rs 10 billion

It has been trying to offload non-core assets and investments, to raise money for meeting the Basel-III norms on capital adequacy

CBI registers three FIRs in Rs 7.43-bn NPA in IDBI Bank

There are a total of 41 others accused in these three separate FIRs, says CBI

IDBI begins quality assurance audit to further align with 'best practices'

For this purpose, the bank has appointed an external expert who was very much associated with the audit reforms in the PSBs

IDBI's 30% stake sale in NSDL delayed; transaction may spill over to FY19

IDBI Bank has been selling non-core investments through 2017-18

IDBI Bank bucks trend in weak market; zooms 51% in one month

The stock surged 14% to Rs 91.50, hit a fresh 52-week high on the NSE in intra-day trade on back of heavy volumes

Govt asks IDBI Bank to rejig its senior management like other PSBs

Much of IDBI Bank's special status was stripped off a few years ago when govt said the rank of the IDBI MD and CEO would be same as those of other banks

IDBI Bank gains 8% in weak market

The stock surged 8% to Rs 80.75 with combined 63.61 million equity shares changed hands on the BSE and NSE.

Moody's upgrades outlook on IDBI Bank to 'positive' from 'stable'

Expects improvement in capital position and stable asset quality

IDBI Bank, IndiGo, Persistent Systems hit 52-week highs

Avenue Supermarts, Britannia Industries, Hindustan Zinc, Mindtree, Venky's India and Sunflag Iron & Steel Company were hit their respective record highs.

IDBI Bank hits 9-month high; up 21% in four days

The stock rallied 6% to Rs 74.60 on BSE, its highest level since May 18, 2017, on back of heavy volumes.

IDBI Bank sells 30% NEGIL stake to IIFL Wealth for Rs 11 billion

The bank had raised about Rs 21 billion through auction of non-core assets between April and December 2017

IDBI Bank pares 4.89% stake in SIDBI for undisclosed amount

IDBI Bank had said that the intention to sell stake was to mobilise funds by existing non-core business