IDBI Bank

Like the trend today, IDBI Bank also posted one of is worst performances. Posting a loss, its asset quality also deteriorated  and provisions too showed a sharp jump.

The Bank’s net loss for the quarter was at Rs.1736 crore v/s profit of Rs.546 crore in previous Q4. NII itself showed the pressure – it was down 14% at Rs.1428 crore. NIM slipped frpm 2% to 1.88% (QoQ). Once again, like rest of the PSU banks, the tax write back was the savior – it came in at Rs.1119 crore.

In terms of asset quality, Gross NPA rose from 8.94% to 10.98% (QoQ) and Net NPA showed a much sharper surge – op at 6.78% v/s 4.6%. Provisions, YoY showed a whopping 159% jump up at Rs.1718 crore and up 19% (QoQ). The Bank said that fresh slippages were at Rs.10,260 crore and write-offs at Rs.4250 crore. The sale to Asset Recovery Companies (ARCs) was at Rs.1200 crore and some Rs.8000 crore worth of accounts are in SDR.