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IDBI Bank Q1 net up 100.6 pc at Rs 22.4 crore
Mumbai, July 21: IDBI Bank Ltd has posted a 100.6 per cent rise in net profit at Rs 22.4 crore for the first quarter ended June 30, 2003, compared to Rs 11.1 crore recorded in same period of previous year.
Mumbai, July 21: IDBI Bank Ltd has posted a 100.6 per cent rise in net profit at Rs 22.4 crore for the first quarter ended June 30, 2003, compared to Rs 11.1 crore recorded in same period of previous year.
Total income in the period under review increased by 43.7 per cent at Rs 109.4 crore as against Rs 76.1 crore in Q1 of last year, an IDBI Bank release said here today.
The net interest income in Q1 of FY-04 grew by 49 per cent at Rs 66.6 crore (Rs 44.7 crore in q1 of fy-03), it said.
The bank board has approved a proposal to raise additional capital of about Rs 155 crore by way of rights issue to existing shareholders in ratio of 1:2 (one equity share for every two held). IDBI Bank was in the process of filing the offer document with Securities and Exchange Board of India and expects to launch the issue before September 30, 2003.
The net non-performing assets of the bank have reduced from 1.8 per cent to 0.36 per cent.
In Q1 of current fiscal, the customer assets increased by about Rs 900 crore to Rs 5,931 crore. The retail assets business crossed Rs 2,000 crore mark with about 85 per cent comprising home loans.
Total deposits of the bank rose by 13.1 per cent at Rs 6,236 crore while the total customer base stood at 8.4 lakh (6.34 lakh). Bureau Report
The net interest income in Q1 of FY-04 grew by 49 per cent at Rs 66.6 crore (Rs 44.7 crore in q1 of fy-03), it said.
The bank board has approved a proposal to raise additional capital of about Rs 155 crore by way of rights issue to existing shareholders in ratio of 1:2 (one equity share for every two held). IDBI Bank was in the process of filing the offer document with Securities and Exchange Board of India and expects to launch the issue before September 30, 2003.
The net non-performing assets of the bank have reduced from 1.8 per cent to 0.36 per cent.
In Q1 of current fiscal, the customer assets increased by about Rs 900 crore to Rs 5,931 crore. The retail assets business crossed Rs 2,000 crore mark with about 85 per cent comprising home loans.
Total deposits of the bank rose by 13.1 per cent at Rs 6,236 crore while the total customer base stood at 8.4 lakh (6.34 lakh). Bureau Report