Date:30/10/2004 URL: http://www.thehindubusinessline.com/2004/10/30/stories/2004103002480800.htm

Back IDBI Bank Q2 net at Rs 38 cr

Our Bureau

Mumbai , Oct. 29

IDBI Bank recorded a net profit of Rs 37.7 crore for the quarter ended September 30, 2004, as compared to Rs 36.2 crore in the corresponding quarter previous fiscal.

The bank made a provision of Rs 25.3 crore consequent to transfer of Government securities from `available for sale' (AFS) category to `held to maturity' (HTM) category in keeping with RBI guidelines, said a press release from the bank.

Loan loss provisions; write offs and depreciation on investments went up by 43.8 per cent to Rs 29.8 crore (Rs 20.7 crore).

Total income was at Rs 166.8 crore (Rs 141.4 crore) comprising net interest income at Rs 105.8 crore (Rs 75.9 crore), fee income at Rs 56.4 crore (Rs 46.2 crore) and trading fees, which dropped by 76.2 per cent to Rs 4.6 crore (Rs 19.3 crore).

Total assets reflected a growth of 39.5 per cent to touch Rs 13,886 crore (Rs 9,952 crore).

Capital adequacy ratio as on September 30, 2004 stood at 10.1 per cent (8.2 per cent).

For the half-year ended September 2004, net-profit went up by 27.1 per cent to Rs 74.4 crore (Rs 58.5 crore).