IDBI Bank Ltd

(IDBI)

IDBI Bank Stake Sale and Strong Q2 Results - 21 Nov, 2024

The Centre plans to off-load a 60.7% stake in IDBI Bank, including shares from the Government and LIC. IDBI Bank reported a 39% YoY increase in net profit for Q2 FY2025, reaching Rs 1,836 crore, alongside a 45% rise in operating profit.

IDBI Bank Disinvestment Progressing as Planned - 20 Nov, 2024

The government is confident of achieving a 4.9% fiscal deficit in FY25. The IDBI Bank disinvestment is advancing to the next stage of due diligence, with financial bids to be invited soon.

IDBI Bank Privatization Process Progressing - 13 Nov, 2024

The government expects financial bids for IDBI Bank's privatization to be submitted in FY25, with the process likely concluding in FY26. Due diligence for potential bidders is set to begin soon, with a 61% stake being sold by the Centre and LIC.

IDBI Bank Privatisation Process Advances - 12 Nov, 2024

IDBI Bank's privatisation is expected to see financial bids by FY25's end, with due diligence for potential bidders underway. The Centre and LIC plan to sell a 61% stake, with a 39% YoY profit increase reported in Q2. The privatisation process began in January 2023, aiming for completion in FY26.

IDBI Bank Announces Recruitment for 1000 ESO Positions - 08 Nov, 2024

IDBI Bank is recruiting for 1000 Executive Sales and Operations (ESO) positions. Applications are open until November 16, with a monthly salary starting at Rs 29,000.

IDBI Bank Focuses on Innovative Deposit Strategies - 06 Nov, 2024

Rakesh Sharma, CEO of IDBI Bank, emphasized that merely raising interest rates won't suffice to attract deposits. He advocates for enhancing convenience, service delivery, and brand trust, while acknowledging that low deposits affect profitability. Innovative schemes are necessary to boost deposits.

Bidders Shortlisted for IDBI Bank Acquisition - 29 Oct, 2024

Canadian investor Prem Watsa and Emirates NBD are the final bidders for IDBI Bank. They will access the virtual data room soon to prepare final bids.

IDBI Bank Privatization Targeted by March 2025 - 28 Oct, 2024

The Finance Ministry is working to complete the privatization of IDBI Bank by March 2025. The RBI has issued fit and proper certificates to shortlisted bidders, with access to the virtual data room expected soon.

IDBI Bank Reports Strong Q2 Profit Growth - 27 Oct, 2024

IDBI Bank Ltd reported a 38.3% year-on-year increase in net profit to ₹1,836.5 crore for Q2 FY2025, alongside a 45% rise in operating profit to ₹3,006 crore.

IDBI Bank Reports Strong Q2 Earnings Growth - 26 Oct, 2024

IDBI Bank Limited reported a significant increase in net income for Q2 2024, reaching INR 18,608 million, up from INR 13,854 million year-over-year. Basic and diluted earnings per share also rose to INR 1.73 from INR 1.29. For the six months, net income was INR 35,951.2 million, compared to INR 26,146.6 million last year, with earnings per share increasing to INR 3.34 from INR 2.43.

IDBI Bank Reports Strong Q2 Profit Growth - 25 Oct, 2024

IDBI Bank's Q2 FY25 results show a 39% increase in net profit to ₹1,836 crore, with net interest income rising 26%. Asset quality improved, with gross NPAs at 3.68%. Total income reached ₹8,754 crore, reflecting strong performance.

IDBI Bank Strategic Sale Advances with RBI Approval - 23 Oct, 2024

The strategic sale of IDBI Bank is set to move forward without delays, following the Reserve Bank of India's prior approval. Due diligence for prospective bidders will commence in November, streamlining the sale process and ensuring regulatory compliance.