Page 18 - Idbi Bank

CBI registers three FIRs in Rs 7.43-bn NPA in IDBI Bank

There are a total of 41 others accused in these three separate FIRs, says CBI

IDBI begins quality assurance audit to further align with 'best practices'

For this purpose, the bank has appointed an external expert who was very much associated with the audit reforms in the PSBs

IDBI's 30% stake sale in NSDL delayed; transaction may spill over to FY19

IDBI Bank has been selling non-core investments through 2017-18

IDBI Bank bucks trend in weak market; zooms 51% in one month

The stock surged 14% to Rs 91.50, hit a fresh 52-week high on the NSE in intra-day trade on back of heavy volumes

Govt asks IDBI Bank to rejig its senior management like other PSBs

Much of IDBI Bank's special status was stripped off a few years ago when govt said the rank of the IDBI MD and CEO would be same as those of other banks

IDBI Bank gains 8% in weak market

The stock surged 8% to Rs 80.75 with combined 63.61 million equity shares changed hands on the BSE and NSE.

Moody's upgrades outlook on IDBI Bank to 'positive' from 'stable'

Expects improvement in capital position and stable asset quality

IDBI Bank, IndiGo, Persistent Systems hit 52-week highs

Avenue Supermarts, Britannia Industries, Hindustan Zinc, Mindtree, Venky's India and Sunflag Iron & Steel Company were hit their respective record highs.

IDBI Bank hits 9-month high; up 21% in four days

The stock rallied 6% to Rs 74.60 on BSE, its highest level since May 18, 2017, on back of heavy volumes.

IDBI Bank sells 30% NEGIL stake to IIFL Wealth for Rs 11 billion

The bank had raised about Rs 21 billion through auction of non-core assets between April and December 2017

IDBI Bank pares 4.89% stake in SIDBI for undisclosed amount

IDBI Bank had said that the intention to sell stake was to mobilise funds by existing non-core business

IDBI Bank to terminate all rating contracts with Moody's Investors Services

The global ratings firm had also downgraded the bank's local and foreign currency bank deposit ratings to B1 from Ba2

Bank unions on strike on Dec 27, demand wage hike for IDBI Bank employees

The IDBI Bank employees went on two-day strike in October demanding revision of wages

IDBI Bank expects balance sheet stability by March 2019

With capital infusion from the government and a turnaround plan in place, IDBI Bank expects stability to return to its balance sheet by March 2019.The government-owned bank, in the red due to large provisioning for loans gone bad, posted a net loss of Rs 198 crore in the quarter ended September (Q2), from a profit of Rs 56 crore in the same period of 2017. The net loss for the June quarter (Q1) was Rs 858 crore.However, operating profit rose by 81.7 per cent to Rs 2,798 crore in Q2 from a year before (it was Rs 877 crore in Q1). M K Jain, managing director, said the growth in operating profit was expected to be 20-22 per cent for the financial year ending March 2018.In September, the bank hired The Boston Consulting Group (BCG) to accelerate its turnaround plan and improve financial performance. IDBI is supposed to focus on four areas -- revenue enhancement, cost control & reduction, asset productivity and overall programme management, in consultation with BCG.Executives said the

IDBI Bank posts Rs 198-cr loss in Q2, its fourth straight quarterly loss

IDBI shares were trading 4.3 per cent lower at the stock exchange

AIBEA calls for two-day all-India strike in IDBI Bank over wage revision

Strike to be held on October 24 and 25 with AIBEA calling upon all its unions to support the agitation by demonstrating in front of IDBI Bank branches

IDBI Bank to sell entire stake in NSDL

NSDL is promoted by IDBI, the NSE, and the Specified Undertaking of the Unit Trust of India

Govt raises stake in IDBI Bank to 77.79% from 73.98%

The government earlier had 73.98 per cent stake in IDBI bank

IDBI Bank hires BCG to advise on turnaround plan

Public sector lender IDBI Bank has hired The Boston Consulting Group (BCG) to accelerate a turnaround programme and improve its financial performance.M K Jain, the bank's managing director, said: "BCG will assist us to identify areas for cost containment and revenue maximisation." IDBI has had mounting losses and due to the size of its non-performing loans, is under the Reserve Bank of India's Prompt Corrective Action (PCA) plan.The bank expects to identify and address existing gaps, capitalise on core strengths and improve products and processes with BCG's help, it said on Tuesday. The focus will be on four areas -- revenue enhancement, cost control and reduction, asset productivity and overall programme management.BCG had advised IDBI in 2001, when the latter was a development finance institution, on transiting to become a universal bank.IDBI has also decided, said an executive, to appoint a human resource advisor and information technology experts, to improve its systems.It has ...

IDBI Bank sells 2.5% stake in Clearing Corporation of India

CCIL facilitates clearing and settlement of transactions in money, government bonds, foreign exchange and derivative markets