IDBI Bank Q2 business up 5pc
IDBI Bank Ltd. (IDBI), a new generation government owned bank, announced its unaudited financial results for the quarter ended September 30, 2012, where its business went up by 5pc .
IDBI reported a net profit of Rs.911 Crore for the 6 months ended September 30, 2012 as against a net profit of Rs.851 Crore in the corresponding period of previous year.
IDBI reported a net profit of Rs.484 Crore for the quarter ended September 2012 as against Rs.427 Crore for the quarter ended June 2012 and Rs.516 Crore in the corresponding quarter ended September 2011 of previous year.
Net Profit for the quarter ended September 30, 2012 is after making additional provision of Rs.122 Crore for pension/ leave encashment during the quarter.
Total business (deposits and advances) as of September 30, 2012 stood at Rs.3,46,457 Crore as against Rs.3,29,916 Crore as of September 30, 2011, registering a growth of 5pc .
Deposits increased to Rs.1,80,087 Crore at end- September 2012 from Rs.1,74,441 Crore at end- September 2011, reflecting a growth of 3pc .
Advances also increased by 7pc to Rs.1,66,370 Crore, as compared to Rs.1,55,475 Crore as at end- September 2011.
Aggregate assets as of September 30, 2012, stood at Rs.2,63,535 Crore as against Rs.2,49,951 Crore as on September 30, 2011, registering a growth of 5pc .
The Bank's CAR (without considering half yearly profits) stood at 13.91pc as of September 30, 2012.