IDBI Bank's consolidated net loss widens to Rs3,821cr in Q1FY20; asset quality improves

The Bank has finalized the scheme for onboarding of LIC agents as Home Loan agents for IDBI Bank.

Aug 14, 2019 10:08 IST India Infoline News Service

IDBI Bank
IDBI Bank released its Q1FY20 earnings after market hours on Wednesday, August 14, 2019.

The bank's consolidated net loss widened to Rs3,821cr vs. net loss of Rs2,383cr in the year-ago quarter.

The total net interest income came in at Rs1,466cr. Income mainly declined in the corporate/wholesale segment. 

Net Interest Margin was at 2.13% for Q1-2020 as compared to 2.17% for Q1-2019.

Gross NPA ratio improved to 29.12% as on June 30, 2019 as against 30.78% as on June 30, 2018.

Net NPA ratio improved to 8.02% as on June 30, 2019 as against 18.76% as on June 30, 2018 and 10.11% as on March 31, 2019. 

Provision Coverage Ratio (PCR-including Technical Write-Offs) improved to 87.79% as on June 30, 2019 from 64.45% as on June 30, 2018.

Capital Adequacy Ratio stood at 8.31 vs. 8.35 in the year-ago period.

LIC of India, the biggest insurance company in India, and IDBI Bank Ltd, have post acquisition of 51% share by LIC of India, in the Bank executed MOUs/Agreements in the areas of Bancassurance, Rapid Pay, Bulk/NEFT Payments, Collections, ACH Debit and Direct Debit.

The Bank has finalized the scheme for onboarding of LIC agents as Home Loan agents for IDBI Bank.

IDBI ended at Rs27.20, up 1.36% today.

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