A Workshop




PR/1292

(CIN) - L65190MH2004GOI148838


For Immediate Publication / Broadcast / Telecast


Highlights of Q2 FY 16(Sept 30,2015) financial results vis-à-vis Q2 FY 15 (Sept 30, 2014)


  • Business up by 3% to ` 4,43,943Crore (from ` 4,33,063Crore)

  • CASA increased by 10% to ` 57,887Crore (from ` 52,433Crore)

  • Advances up by 5% to ` 2,04,661Crore (from ` 1,95,057Crore)

  • Total assets grew by3% to ` 3,38,458Crore (from ` 3,29,111Crore)

  • Operating Profitincreased by 27% to`1519Crore (from ` 1197Crore )

  • Net Profitup at ` 120Crore against ` 118Croreand ( `255 Croreas against `225 Croreshowing 13%YoY growth).

  • Net Interest Income increased by 15% to `1612Crore (from `1406Crore)

  • Cost of funds reduced to 7.35% (from 7.88%)
  • Net Interest Margin increased to 2.06% (from 1.93%)
  • Cost to Net Income Ratio decreasedto 38.15% (from 44.76%); one of the best in industry
  • Incremental NPA reducing sequentially from March 2015

  • Over 25 lac new SB A/cs and 1lac new current accounts opened widening the customer base.

  • Expanded network of Bank in retail segment started paying off, showing major contribution in segmentwise income from retail business.

  • The Bank's efforts on rebalancing the portfolio yielded good results showing an increase of 5% in the retail advances at 32% in the current quarter as against 27% as at the end of corresponding quarter of previous year. Consequently there was a drop in the share of corporate/ wholesale advances from 73% to 68%.


    Mumbai, November04, 2015: The Board of Directors of IDBI Bank Ltd. (IDBI) met in Mumbai today to consider the unauditedfinancial results for the quarter ended September 30, 2015, which are as under:


    Working results:


    ( ` in Crore)

    Q2

    Q2

    HY

    HY

    2015-16

    2014-15

    2015-16

    2014-15

    Total Income

    7914

    7611

    15817

    14843

    Interest income

    7070

    6850

    14331

    13583

    Non-Interest Income

    844

    760

    1486

    1260

    Total Expenses

    6395

    6414

    13160

    12718

    Interest expenses

    5458

    5444

    11225

    10926

    Operating expenses

    937

    970

    1935

    1792

    Operating Profit

    1519

    1197

    2657

    2125

    Provisions (net)

    1399

    1078

    2402

    1900

    Net Profit

    120

    118

    255

    225


    Profitability:

    IDBI reported a net profit of `255Crore for the 6 months ended September 30, 2015 as against a net profit of `225Crore in the corresponding period of previous year. IDBI reported a net profit of `120Crore for the quarter ended September 2015 as against

    `135Crore for the quarter ended June 2015 and `118Crore in the corresponding quarter ended September 2014 of previous year.

    Total business(deposits and advances) as of September 30, 2015 stood at`4,43,943Crore as against ` 4,33,063Crore as of September 30, 2014, registering a growth of 3%.


    CASA increased to ` 57,887Croreas at end- September 2015 from ` 52,433Crore as at end- September 2014, reflecting a growth of 10%.


    Advances also increased by 5%to `2,04,661Crore as at end September 2015as compared to ` 1,95,057Crore as at end- September 2014.


    Aggregate assets as of September 30, 2015, stood at ` 3,38,458Crore as against`3,29,111Crore as atSeptember 30, 2014, registering a growth of 3% .


    Capital Adequacy Ratio (CAR) of the Bank(without considering half yearly profits) stood at (as per Basel III) 11.66% as of September 30, 2015.


    Si gnifi c ant devel opments duri ng FY 2015-16 (J ul y 2015- Septem ber 2015)

    • IDBI Bank signed The General Refinance Agreement (GRA) with Micro Units Development and Refinance Agency (MUDRA) Ltd. on July 01, 2015. As per the agreement, the Bank will offer credit facilities up to `10 lakh to Micro Enterprises, at a competitive interest rate under Pradhan Mantri Mudra Yojana (PMMY).


    • IDBI Bank launched its first self service Mini Branch Kiosk at its Cuffe Parade, Mumbai Branch, which will address the customers' request of personalized cheque leaves dispensation, issue of Demand Draft & Pay Order, deposit of cheque/DD on 24X7 basis. IDBI Bank would be the first bank in the country to make these services available on 24X7 basis.


    • IDBI Bank launched a new Loan Application Processing System for its Structured Retail Asset (SRA) Loans like Education loans, Personal Loans and Auto Loans. This system would bring about the standardization in processing/sanction and

      disbursements of these loans and would improve Turn Around Time for these loans.


    • IDBI Bank launched its Tab Banking solution christened 'JusTab' to facilitate opening of accounts at the customers' door step using a Tablet.


    • IDBI Bank inaugurated its Treasury Business Continuity Centre (BCP) on August 28, 2015, at its BandraKurla Complex, Mumbai office. The BCP site will serve as a near-site alternative to the Bank's main Treasury Dealing centre in the event of any business disruption/disaster.


    • IDBI Bank has been awarded second prize in linguistic region `B' of nationalised banks and financial institutions category of RajbhashaKirtiPuraskar for the year 2014-15 for its outstanding performance in the use of Hindi. The award was presented by Honourable President of India ShriPranab Mukherjee to Shri Kishor Kharat, MD and CEO, at VigyanBhavan, New Delhi on September 14, 2015.


    • Honourable Prime Minister ShriNarendraModi flagged off a Financial Inclusion Initiative funded by IDBI Bank, in Varanasi, on September 18, 2015.


    • IDBI Bank's loans, linked to Base Rate became cheaper following a 25 bps reduction in its Base Rate to 9.75% with effect from October 5, 2015. IDBI Bank took this pro-active step, keeping in view the recent policy measures announced by the RBI.


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