IDBI Bank to seek approval for Rs 8,000 cr rupee bond borrowing for FY23

24 Mar 2022 , 01:55 PM

The bank on Thursday said it is seeking approval for rupee bond borrowings worth Rs 8,000 crore for the next fiscal.

the meeting of the Board of Directors of the Company is scheduled on 29/03/2022, to consider the proposal for approval of Rupee Bond Borrowings limit of Rs. 8000 crore for FY 2022-23, to be borrowed in one or more tranches, IDBI Bank said in a regulatory filing.

IDBI Bank is one of Indias one of the state own largest bank having more than 1890 branches with 3300 ATMS across the globe.

Net profit of IDBI Bank rose 52.81% to Rs 578.25 crore on 3.85% decline in total income to Rs 5,772.86 crore in Q3 December 2021 over Q3 December 2020.

Shares of IDBI Bank were up 1.56% at Rs 45.50 on the BSE.

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