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Indian development finance institution
Industrial Development Bank of India or IDBI is a Scheduled Commercial Bank under the ownership of Life Insurance Corporation of India (LIC) and Government of India. It was established by Government of India as a wholly owned subsidiary of Reserve Bank of India in 1964, IDBI as a development finance institution, which provided financial services to industrial sector.
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New Delhi, Oct 17 (IANS) IDBI Bank on Saturday reported a 39.2 per cent year-on-year decline in net profit to Rs 2,206 crore for the second quarter of FY27 against Rs 3,627 crore in the year-ago period. The sharp decline was due to a high base last year which included a one-off gain of Rs 1,699...
IDBI Bank on Saturday reported a 39.2 percent year-on-year decline in net profit to Rs 2,206 crore for the second quarter of FY27, compared with Rs 3,627 crore in the corresponding period last year. However, the lender's net interest income (NII) jumped nearly 29 percent, while net interest margin…
IDBI Bank reported a 39% YoY decline in Q2 FY27 net profit, partly due to a one-off gain in the previous year. Despite this, underlying profitability, margins, asset quality, deposits and advances showed improvement. Meanwhile, Fairfax Financials proposed 60.72% stake acquisition marks a major milestone in the banks…