IDBI Bank Q3 net up 29% at Rs 287 crore

“A healthy growth of 48 per cent in our fee-based income at Rs 350 crore helped us post a good net profit of Rs 287 crore in Q3 FY 10,” IDBI Bank CFO R K Bansal told PTI here.

The bank’s NPAs, however, rose marginally due to the economic downturn with its gross NPAs up from 1.7 per cent to 2 per cent and net NPAs up from 1.19 per cent to 1.4 per cent.
“But this is not alarming,” Bansal claimed, adding the lender restructured only five cases during Q3 amounting to Rs 80 crore.

The bank had made a provisioning of Rs 353 crore in the quarter, which includes Rs 107 crore for Income Tax and Rs 170 crore for NPAs, he said.

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