IDBI Bank Q2 net zooms 125%
By Chennai: | 23 Oct 2003
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Chennai: IDBI Bank registered a 125-per cent growth in its net profit at Rs 36.19 crore for the quarter ended 30 September 2003.
The profits were driven by a 20-per cent growth in interest income at Rs 174.66 crore and a 109-per cent growth in other income at Rs 65.5 crore for this quarter.
The growth in profits came despite a jump in loan loss provisions of Rs 20 crore in this quarter compared to Rs 5 crore in the corresponding quarter of the previous year. The bank's deposits grew by Rs 421 crore during the quarter to Rs 6,657 crore as at the end of September 2003.
The bank's capital adequacy ratio at 8.22 per cent continued to be below the regulatory minimum of 9 per cent.
