Highlights of Q2 FY 15 (Sept 30,2014) financial results vis-à-vis Q2 FY 14 (Sept 30, 2013)
- Business up 12.15% to ` 4,33,062 Crore (from ` 3,86,145 Crore)
- Deposits increased by 17.50% to ` 2,38,006 Crore (from ` 2,02,559 Crore)
- Advances up by 6.25% to ` 1,95,057 Crore (from ` 1,83,586 Crore)
- Total assets grew by 10.59% to ` 3,28,947 Crore (from ` 2,97,451 Crore)
- Net Profit during 6 months ended on September 2014, at ` 225 Crore against ` 499 Crore during half year ended September 2013.
Mumbai, October 31, 2014: The Board of Directors of IDBI Bank Ltd. (IDBI) met in Mumbai today to consider the unaudited financial results for the quarter ended September 30, 2014, which are as under:
Working results:
( ` in Crore)
|
|
Q2 | Q2 | HY | HY |
| 2014-15 | 2013-14 | 2014-15 | 2013-14 | |
| Total Income | 7611 | 7114 | 14843 | 14560 |
| Interest income | 6850 | 6536 | 13583 | 13264 |
| Non-Interest Income | 760 | 579 | 1260 | 1296 |
| Total Expenses | 6414 | 5840 | 12718 | 11968 |
| Interest expenses | 5444 | 5052 | 10926 | 10305 |
| Operating expenses | 970 | 788 | 1792 | 1663 |
| Operating Profit | 1197 | 1275 | 2125 | 2591 |
| Provisions (net) | 1078 | 1083 | 1900 | 2092 |
| Net Profit | 118 | 192 | 225 | 499 |
Profitability:
IDBI Bank reported a net profit of ` 225 Crore for the 6 months ended September 30, 2014 as against a net profit of ` 499 Crore in the corresponding period of previous year. IDBI reported a net profit of ` 118 Crore for the quarter ended September 2014 as against ` 106Crore for the quarter ended June 2014 and ` 192 Crore in the corresponding quarter ended September 2013 of previous year.
The profitability for the current quarter/ half year has been largely affected by higher contributions to RIDF & other priority sector deposits. If these amounts had been deployed in regular business, it is estimated that PAT for Q2 FY 15 would have been higher by ` 187 Crore and for HY FY 15 would have been higher by ` 374 Crore.
Total business (deposits and advances) as of September 30, 2014 stood at ` 4,33,062 Crore as against ` 3,86,145 Crore as of September 30, 2013, registering a growth of 12.15%.
Deposits increased to ` 2,38,006 Crore as at end- September 2014 from ` 2,02,559 Crore as at end- September 2013, reflecting a growth of 17.50%.
Advances also increased by 6.25% to ` 1,95,057 Crore as at end September 2014 as compared to ` 1,83,586 Crore as at end- September 2013.
Aggregate assets as of September 30, 2014, stood at ` 3,28,947 Crore as against ` 2,97,451 Crore as at September 30, 2013, registering a growth of 10.59% .
Capital Adequacy Ratio (CAR) of the Bank (without considering half yearly profits) stood at (as per Basel III) 11.71% as of September 30, 2014.
IDBI Bank made its first Basel III compliant Additional Tier – I (AT – I) bonds amounting to ` 2,500 Crore in October 2014. The amount mobilised would be counted as a part of Tier I capital and accordingly the capital adequacy of the Bank would be 12.62%.
An amount of ` 1,000 Crore was mobilized through private placement of infrastructure bonds viz., IDBI Omni Infrastructure Bonds 2014-15 Series I, in terms of RBI circular no. DBOD.BP.BC.No.25/08.12.014/2014-15 dated July 15, 2014, on “Issue of Long-Term Bonds by Banks – Financing of Infrastructure and Affordable Housing”. The issue opened for subscription on September 8, 2014 and closed on September 12, 2014. The funds so mobilised will not attract CRR, SLR requirement and would be knocked off from ANBC calculations for the compliance of priority sector lending.
Significant developments during FY 2014-15 (July 2014 – September 2014)
- IDBI Bank is ranked 39th among the top 50 Most Valuable Indian brands in the first ever Indian edition of WPP’s BrandZ Report.
- IDBI Bank decided to be an active participant of the “Swachh Bharat Mission” to support building of gender segregated toilets in the schools near Bank’s branches in rural and semi-urban area as part of CSR initiative for an estimated amount of ` 9 Crore. The initiative will be undertaken in around 300 schools mainly near Bank’s rural branches along with a few branches near our semi- urban areas.
- IDBI Bank opened more than 3.62 Lakh basic savings accounts under ‘Pradhan Mantri Jan Dhan Yojana’ to mobilize Basic Savings Bank Deposit Accounts (BSBDAs), promote financial literacy and meeting comprehensively the objective of financial inclusion. Under this plan, each account holder is being provided with passbook and RuPay Debit/ATM card which carries free accidental insurance cover of ` 1 lakh and an overdraft facility of ` 2000.
- IDBI Bank launched its first unmanned ‘e-lounge’ at Mahim branch, Mumbai wherein banking services will be taken to a different plane, with high-end technology platform meeting most of the banking requirements through simple and intuitive interface on the self-service terminals.
- IDBI Bank operationalized its Near DR Centre in Mumbai, thereby joining a select list of banks who have established three-way Disaster Recovery.