2017-09-27 :IDBI Bank unveils ‘Project Nishchay’ for financial improvement
In a bid to accelerate its turnaround programme and to improve its financial performance, public sector lender, IDBI bank has introduced the launch of ‘Project Nishchay’ in partnership with the Boston Consulting Group (BCG). Under the programme, the bank aims to focus on select areas including loans and deposits, revenue enhancement, asset productivity and overall program management.
2017-08-24 : IDBI Bank Q1 profit declines at Rs. 853 crore
IDBI Bank has reported a marginal decline in its consolidated net profit at Rs. 853 crore during the first quarter of FY18 as against profit of Rs. 241 crore during the corresponding quarter of the previous fiscal year. The net profit of the bank is impacted due to increase in its non-performing assets. Meanwhile, the lender is also trying to develop growth strategies to achieve further improvements in its loan against property and car loans.
2017-08-10 :IDBI Bank gets capital infusion of Rs. 1,861 crore from Government of India
As a part of its annual capital exercise for FY18, the Government of India has infused share application money of Rs. 1,861 crore towards fresh preferential issue of equity capital of the IDBI Bank. In its next meeting, the bank will conduct a ballot exercise for obtaining the proposal for issue of funds from the shareholders.
2017-06-14 :IDBI Bank to rebalance its loan portfolio
IDBI Bank has decided to rebalance its loan portfolio. The bank has decided to take this move after RBI has invoked prompt corrective action (PCA) against it over rising non-performing assets (NPAs) and negative return on assets (RoAs). Simultaneously, the bank is also planning to achieve strong growth in its retail and priority sector lendings.
2017-06-09 :IDBI Bank sets up special department to manage bad loans
In a bid to reduce bad loans, IDBI Bank has announced that it has created a special department, NPA management and credit monitoring group for managing its bad loans. With this move, IDBI will be able to reduce its non performing assets (NPAs) and bad loans and will continue its focus on improving its position.
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