Page 15 - Idbi Bank

Bank of Maharashtra, IDBI Bank cut lending rates by 10 to 15 basis points

Many more banks are expected to follow suit with rate cuts on the back of comfortable liquidity and low bond yields

Oriental Bank of Commerce, IDBI Bank cut MCLR up to 15 basis points

The rate cut follows an MCLR cut by the country's largest lender SBI post the RBI's decision to reduce the key interest rate by 35 bps

Number of pending appeals at Securities Appellate Tribunal rise 70% in FY19

The ratio of appeals dismissed to those decided in favour of Sebi shows a decline. There were 18 appeals in favour of Sebi for every order passed against it in FY18. The ratio has since dropped to 5.5

IDBI Bank reduces MCLR by 5-10 bps to 8.95% across various tenors

he one-year MCLR is the benchmark against which most customer loans such as auto, personal and home loans are priced

IDBI Bank narrows Q4 loss to Rs 4,918 cr; may exit PCA regime by March 2020

The provisions for NPAs stood at Rs 7,233 crore in Q4FY19 as against Rs 10,773 crore for Q4FY18

IDBI Bank invites bids for MF arm; ICICI Securities selected as advisor

Earlier, it was speculated that IDBI AMC could get merged into the LIC Mutual Fund (MF)

IDBI Bank, IOB dissent against Srei-backed resolution plan for DCHL

The two banks cite unfair treatment saying other lenders will get disproportionately higher amounts, object to payout through a mix of cash and non-core assets

Reserve Bank not in favour of changing IDBI Bank's name

In January, the insurance behemoth LIC completed the acquisition of 51 per cent controlling stake in IDBI Bank

IRDAI seeks proposal from LIC on stake reduction in the IDBI Bank

LIC acquired 51 per cent controlling stake in IDBI Bank, making the insurer the lender's majority shareholder

IDBI Bank plans to sell Rs 100-billion bad loans, exit PCA by September

Indian lenders burdened with the world's worst bad-loan ratio are stepping up effort to recover delinquent debt after the Reserve Bank of India announced tougher rules

IDBI drafts revival strategy to bring banking, insurance under one roof

The bank and LIC, through its collective network of branches, offices and workforce, have started leveraging their mutual business synergies

IDBI Bank gets govt nod to handle import, export transactions with Iran

IDBI Bank has been identified to route the payments. UCO Bank had in the previous round of sanctions handled rupee payments

Corporate governance key to IDBI Bank's future

In medical parlance, IDBI Bank is probably being shifted from ICU (intensive care unit) to HDU (high dependency unit)

How about LIC Bank? With insurer as new owner IDBI Bank wants name change

Bank board's proposal in this regard must receive nod from RBI, shareholders and Stock Exchanges; it is also subject to name availability and reservation by MCA

IDBI Bank Q3 net loss rises to Rs 4,185 cr on higher bad loan provisions

Its asset quality remains under severe pressure

IDBI Bank reports threefold increase of loss to Rs 4,185.48 crore for Q3

The bank had reported a net loss of Rs 1,524.31 crore in the corresponding quarter of the previous fiscal

Moody's upgrades IDBI's foreign currency rating; outlook labeled positive

This capital infusion will help the public sector lender to negotiate better terms on its foreign fund raising exercise, mainly from its branch in Dubai International Financial Center

IDBI Bank shares tumble over 3% after 51% stake acquisition by LIC

Shares of IDBI Bank Monday fell over 3 per cent on a day when insurance behemoth LIC announced completion of 51 per cent stake acquisition in the bank. Stock of the bank slumped 3.17 per cent to Rs 56.50 on the BSE. Intra-day, it went down to touch a low of Rs 56.20. On the NSE, the shares slipped 3.09 per cent to end at Rs 56.40. During the trading session, the scrip touched a low of Rs 56.05. "The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies," IDBI Bank said in a BSE filing. In August last year, the Cabinet approved the acquisition of controlling stake by Life Insurance Corporation (LIC) as a promoter in the bank through a combination of preferential allotment and open offer of equity. IDBI Bank has about 1.5 crore retail customers and about 18,000 employees. With this deal, LIC will have a strategic .

Only 22% minority shareholders exit IDBI Bank following open offer by LIC

Existing shareholders feel value of their shares going up substantially in the future following management takeover by LIC

S&P removes IDBI Bank ratings from CreditWatch post LIC's capital infusion

LIC's capital infusion could enable IDBI Bank to accelerate write-offs and make sufficient provisions against stressed assets