IDBI Bank
Highlights of FY11 financial results (FY11 Vs FY10)
Ø Operating profit up 52.5% to Rs. 4158 Crore during FY11
Ø Net profit up 60% to Rs. 1650 Crore during FY11
Ø Fee based income grew by 22.8% to Rs. 1762 Crore (previous year Rs. 1435 Crore)
Ø NII grew by 91.9% to Rs. 4329 Crore (previous year Rs. 2256 Crore)
Ø Business increased to Rs. 3,37,584 Crore (previous year Rs. 3,05,869 Crore)
Ø Deposits increased to Rs. 1,80,486 Crore (previous year Rs. 1,67,667 Crore)
Ø Advances increased to Rs. 1,57,098 Crore (previous year Rs. 1,38,202 Crore)
Ø Total assets grew to Rs. 2,53,377 Crore (Previous year Rs. 2,33,572 Crore)
Ø Dividend proposed to be increased to 35% compared to 30% in the previous year
Working results:
| FY 10 SA | 31-Mar-11 | 31-Mar-10 | ||
| Interest on Advances/Bills | 1375039 | 1077475 | 372171 | 292049 |
| Income on Investments | 481153 | 422414 | 128726 | 114549 |
| Income on Investments | 481153 | 13.91 | 128726 | 12.38 |
| Others | 2124 | 26369 | 1109 | 1548 |
| Interest Earned | 1860082 | 1527263 | 502511 | 408139 |
| Other Income | 208365 | 229096 | 67554 | 54706 |
| Total Income | 2068447 | 1756359 | 570065 | 462845 |
| Interest Expended | 1427193 | 1300522 | 391658 | 332121 |
| Employees cost | 104624 | 77344 | 30451 | 28554 |
| Other Operating Expenses | 120845 | 105798 | 31275 | 32774 |
| Operating Expenses | 225469 | 183142 | 61726 | 61328 |
| Operating Profit | 415785 | 272695 | 116681 | 69396 |
| Provisions | 187687 | 168223 | 28190 | 54247 |
| Profit before tax | 228098 | 104472 | 88491 | 15149 |
| Tax Expense | 63066 | 1359 | 36866 | -16692 |
| Net Profit | 165032 | 103113 | 51625 | 31841 |
| Face Value (in Rs.) | 10 | 10 | 10 | 10 |
| Paid-up Equity | 98457 | 72486 | 98457 | 72486 |
| Reserves | 1165724 | 747167 | 1165724 | 747167 |
| Capital Adequacy Ratio | 13.64 | 11.31 | 13.64 | 11.31 |
| Basic EPS (in Rs.) | 18.37 | 14.23 | 5.24 | 4.39 |
| Diluted EPS (in Rs.) | 18.36 | 14.22 | 5.24 | 4.39 |
| % of Gross/Net NPA | 1.06 | 1.02 | 1.06 | 1.02 |
| Return on Assets | 0.73 | 0.53 | 0.89 | 0.6 |
| Public holding (%) | 34.87 | 47.33 | 34.87 | 47.33 |
Profitability:
Ø IDBI reported a net profit of Rs. 516 crore for the quarter and Rs. 1650 crore for the year ended March 31, 2011, as against Rs. 318 crore and Rs. 1031 crore in the corresponding quarter and year ended March 31, 2010. This amounts to an increase in net profit by 60.05 % for the year.
Ø Net Interest Income (NII) for the quarter ended March 31, 2011 stood at Rs. 1109 crore as against Rs. 762 crore in the corresponding quarter of the previous year, recording a growth of 45.5%. NII for the year ended March 31, 2011, stood at Rs. 4329 crore as against Rs. 2256 crore in the previous year, recording a growth of 91.9%.
Ø Fee based income during the year has shown considerable improvement to Rs. 1762 Crore as against Rs. 1435 Crore in the previous year, recording a growth of 22.8%.
Ø Total business (deposits and advances) as of March 31, 2011 stood at Rs. 3,37,584 Crore as against Rs. 3,05,869 Crore as of March 31, 2010, registering a growth of 10.4%.
Ø Deposits increased to Rs. 1,80,486 Crore at end-March 2011 from Rs. 1,67,667 crore at end-March 2010.
Ø Advances increased to Rs. 1,57,098 crore, as compared to Rs. 1,38,202 crore as at end- March 2010.
Ø As of March 31, 2011, aggregate assets stood at Rs. 2,53,378 crore as against Rs.2,33,573 crore as on March 31, 2010.
Significant developments
during FY 2010-11 (April – March)
Ø IDBI Bank brought a paradigm shift in banking by waiving charges on Current and Savings Accounts transactions starting September 1, 2010. This is a measure to further strengthen the Bank's bond with its customers. This initiative captures the Banks’ philosophy of valuing the customers more than their money.
Ø IDBI Bank has merged two of its wholly owned subsidiaries, IDBI Home Finance Ltd. and IDBI Gilts Ltd. with itself on January 1, 2011.
Ø In July 2010, IDBI Bank has received Rs. 3,119.04 Crore from the Government of India towards consideration for preferential issue of equity shares to GoI at a price of Rs.120.19 per share in terms of the approval accorded by the Shareholders at the sixth AGM of the Bank. With this capital infusion, GoI stake in IDBI Bank has risen to around 65.13%.
Ø IDBI Bank launched a multi-currency remittance facility for making payments in miscellaneous currencies. With this facility, IDBI Bank now offers its customers, remittance facility in more than 125 currencies.
Ø With increasing focus towards the Micro, Small & Medium Enterprises (MSME) sector, IDBI Bank has signed a MoU with the Small Industries Development Bank of India (SIDBI) for joint financing of MSMEs. Further, the Bank has signed another MoU with World Resources Institute (WRI) for financing MSMEs for implementing ESCO (Energy Saving Company) projects.
Ø In recognition of its initiatives in the SME sector, IDBI Bank has received the Best Public Sector Bank award in “SME Financing” from global business information provider Dun & Bradstreet (D&B) in August 2010.
Ø IDBI Bank has become a Registrar for Unique Identification Authority of India (UIDAI). A Memorandum of Understanding (MoU) was signed by the Bank and Unique Identification Authority of India (UIDAI), on January 10, 2011. IDBI Bank plans to dovetail its Financial Inclusion Plan with the UID enrolment for new customers. It will also facilitate issuance of Aadhaar number for its existing customers which will enable the Bank to deploy Aadhaar based services across various delivery channels like ATMs and Micro ATMs.
Ø IDBI Bank was conferred the Award for the Fastest Growing Bank at Best Bank Awards organized by Business Today. IDBI Bank was the recipient of the Award in the Large Banks Category.
Ø IDBI Bank has been identified for award of “The most admired Debt Financier in Infrastructure Sector” by KPMG and Infrastructure Today.
Ø IDBI Bank was conferred the Award for Brand Excellence at the World Brand Congress 2010 organized by CMO, Asia. IDBI Bank was the recipient of the Award in the Banking Category.
Ø IDBI Bank, along with the technology partner Oracle won the Asian Banker Technology Implementation Award 2011 for Best Data and Analytics Project for implementing an analytics solution that measures and analyses interest rate and liquidity risks, integrates its performance management framework and conducts faster and robust scenario analyses.
Ø At the Banking Technology Awards instituted by the IBA, IDBI Bank received the award for best use of Business Intelligence and best Risk Management. The Bank was a runner up in the category for use of Technology in training and e-learning initiatives.
The Results are very Good and indicate huge Growth in Net Profit in Q4 and FY 11 both.
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