INSUBCONTINENT EXCLUSIVE:
At 12:51 pm, shares of the bank traded 8.27 per cent lower at Rs 24.95 apiece on the NSE.IDBI Bank shares fell as much as 11.94 per cent to
widened to Rs 3,801 crore as against loss of Rs 2,410 crore in the quarter last year
On the Bombay Stock Exchange (BSE), shares in IDBI Bank touched an intraday low of Rs 23.80, falling 12.33 per cent from the previous close
The loss in the first quarter of current financial year widened on the back of sharp increase in provisioning for bad loans or
non-performing assets.At 1:19 pm, shares of the bank traded 8 per cent lower at Rs 25 apiece on the NSE
On the BSE, the shares of IDBI Bank traded 7.92 per cent lower at Rs 25 apiece.The net interest income (NII) of IDBI Bank fell to Rs 1,458
as against 30.78 per cent in the corresponding quarter of the previous year.The bank's gross non-performing assets as percentage of total
advances came in at 29.12 per cent versus 27.47 per cent in the previous quarter.IDBI Bank's provisioning for bad loans increased 52 per
cent as the bank provided Rs 7,009.49 crore for bad loans compared with provisioning of Rs 4,602.55 crore in the same period last year.The
operating profit of the bank fell to Rs 951 crore as compared to Rs 1,081 crore made in the corresponding period of last year.IDBI's CASA
or current and savings account ratio increased to Rs 99,590 crore, as against Rs 85,180 crore as on June 30, 2018, an increase of 16.92 per
cent.Earlier this year, the country's largest insurance company LIC completed the acquisition of IDBI Bank in January by acquiring 51 per
cent of its controlling stake.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com
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