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IDBI Bank posts a divergence of Rs741cr in gross NPA for period ending March 2021; Stock near day's high

IDBI Bank posted a divergence in provisioning to Rs752cr as of March 2021.

November 15, 2021 12:36 IST | India Infoline News Service
IDBI Bank
Lender, IDBI Bank has reported a divergence of Rs741cr in gross NPA for the quarter ending March 2021. The Bank has announced its divergence in asset classification and provisioning for NPAs.

As per the regulatory filing, gross NPA reported by the Bank as of March 2021 was at Rs36212cr, while gross NPA reported by RBI for the Bank is Rs36953cr for the same period - resulting in a divergence in NPA to Rs741cr.

Further, as of March 2021, IDBI Bank posted a net NPA of Rs2519cr while nett NPA of Rs3260cr was assessed by RBI - leading to a divergence in net NPA of Rs741cr. However, IDBI Bank said that if incremental provisions have been considered, divergence in Net NPAs would be of Rs47cr.

IDBI Bank posted a divergence in provisioning to Rs752cr as of March 2021. The Bank had posted a provision of Rs33693cr as of March 2021 while RBI assessed provisions of Rs34445cr.

IDBI Bank said that in addition, divergence in provisions for standard advances is aggregating to Rs270cr.

"Bank has already made provisions aggregating to Rs879cr towards the cases reported in divergence during the current financial year up to September 30, 2021," IDBI Bank added.

Following the above, as of March 2021, IDBI Bank's adjusted (notional) net profit after tax would be Rs337cr after taking into account the divergence in provisioning. IDBI Bank said that Had the tax impact been considered, Adjusted (notional) Net Profit/(Loss) would be Rs580cr.

The Bank had reported a net profit of Rs1359cr as of March 2021 to the exchanges.

At around 12.34 pm, IDBI Bank was trading at Rs53.20 per piece up 0.7% on Sensex. The stock was near the day's high of Rs53.75 per piece. 

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