Indian-lender IDBI Bank has posted a net profit of INR16.5bn
($370.9m) for the 12 months to 31 March, an increase of 60%
year-on-year.
IDBI’s highlights included:
• Net interest income increased by 92% to INR43.3bn;
• Deposits increased by 7.6% to INR1.80trn;
• IDBI’s low cost deposits CASA ratio improved from 14.59% to
20.88%;
• Advances grew by 13.7% to INR1.57trn;
• Total assets increased by 8.5% to INR2.53trn;
• An increase in the net interest margin by 53 basis points to
2.1%;
• An improvement by more than 5 percentage points in the
cost-income ratio, down from 40.18% to 35.16%, and
• Profits before tax at IDBI’s retail banking unit increased
by 42% to INR2.74bn;
IDBI ended the financial year with a distribution network of
816branches and 1,372 ATMs serving a retail customer base of over
5m, up from 720 units and 1,210 ATMs respectively as at March
2010.
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