Page 9 - Idbi Bank

IDBI Intech ropes in UK-based Lemon Advisors for overseas foray

This association will help IDBI Intech access global markets where it aims to leverage the significant reach that Lemon Advisors brings on board, across the geographies in Southeast Asia, Japan, Austr

Moody's affirms ratings for IDBI Bank's long-term deposits at "Ba2"

Flags increased uncertainty over level of govt support despite improvement in asset quality, capital and funding

IDBI Bank invites bids to divest stake in Asset Reconstruction Company

The last date for submission of expression of interest (EoI) is June 25, 2021.

Siva lenders to receive Rs 5 crore cash upfront, take 94% haircut

To receive Rs 318 crore of total dues amounting to Rs 4,863 crore

Good show by banks but can they sustain it?

Till March, banks could hold on but not all of them will be in a position to stomach the impact of the second wave of the pandemic

India's IDBI Bank secures $239 mn debt judgment in UK High Court

IDBI Bank has secured a USD 239 million judgment in the commercial division of the High Court of London against a Cypriot subsidiary of India-based Essar Shipping Group, believed to be one of the largest debt judgments obtained by an Indian bank in the English courts. Mumbai-headquartered IDBI had entered into loans totalling USD 148 million with two Singapore registered companies -- Varada Drilling One Pte Ltd and Varada Drilling Two Pte Ltd -- for the construction of two jack up drilling rigs in March 2013. IDH International Drilling Holdco Ltd (IDH), the Cypriot-registered parent company of the borrowers, gave a corporate guarantee in respect of the loan. The loan and guarantee were governed by English laws and were therefore subject to the jurisdiction of the English courts. This is an important judgment both in terms of its size and the message it sends to defaulters that Indian banks are willing and able to recover outstanding debts through the English courts, said Nick Curlin

Standard and Poors affirms BB/B ratings on IDBI Bank with negative outlook

S & P Global Ratings has affirmed BB long-term and B short-term foreign currency issuer credit ratings on IDBI Bank.It also affirmed BB programme rating on the senior unsecured notes under its medium-term notes (MTN) programme and then withdrew the ratings at the bank's request.S & P said the outlook was negative at the time of withdrawal. "We affirmed the ratings because we expect IDBI Bank's improving financial performance to offset the risk of bank's weakening link with the government."The Union Cabinet has approved strategic disinvestment along with the transfer of management control in IDBI Bank. "We considered this as a key transition risk for the rating over the next 12 to 18 months."The high uncertainty associated with an eventual timeline of divestment raises further transition risk. S & P said the strategic sale in IDBI Bank will likely be challenging in the current year owing to the bank's low equity valuation and wary investor sentiment under Covid-19.S & P

S&P Global Ratings affirms BB/B ratings on IDBI Bank with negative outlook

S & P Global Ratings has affirmed BB long-term and B short-term foreign currency issuer credit ratings on IDBI Bank.It also affirmed BB programme rating on the senior unsecured notes under its medium-term notes (MTN) programme and then withdrew the ratings at the bank's request.S & P said the outlook was negative at the time of withdrawal. "We affirmed the ratings because we expect IDBI Bank's improving financial performance to offset the risk of bank's weakening link with the government."The Union Cabinet has approved strategic disinvestment along with the transfer of management control in IDBI Bank. "We considered this as a key transition risk for the rating over the next 12 to 18 months."The high uncertainty associated with an eventual timeline of divestment raises further transition risk. S & P said the strategic sale in IDBI Bank will likely be challenging in the current year owing to the bank's low equity valuation and wary investor sentiment under Covid-19.S & P

Defaulters seek generous bailouts like Siva-IDBI Bank one-time settlement

That deal, approved by 90% of Siva Industries lenders, was signed as there were no other suitable offers; lawyers say it will set a bad precedent

IDBI Bank to cap corporate exposure to Rs 500 crore: Here're the details

The bank is also looking to grow its Rs 45,000 crore corporate book by about 10 per cent.

IDBI Bank board to consider proposal to raise equity capital on May 15

The board of IDBI Bank will consider the proposal to raise equity capital through various modes in its meeting on May 15

IDBI Bank: A dilemma of 'parallel sales' in the Indian financial sector

A buyer of the government's stake will have to contend with simultaneous market sales by the other major shareholder, LIC

IDBI Bank shares zoom 15% as Cabinet gives in-principle nod to divestment

The government and LIC together own 94.72 per cent of equity of IDBI Bank

Stocks to watch: Hero MotoCorp, IDBI Bank, Tata Steel, Coforge, Icra

Tata Steel reported a higher-than-expected consolidated net profit at Rs 6,644 crore in the March quarter (Q4) of FY21, against a net loss of Rs 1,481 crore in the corresponding period last year

As part of strategic disinvestment, govt, LIC to sell stakes in IDBI Bank

Quantum of stake sale to be decided while structuring the transaction

Cabinet approves strategic disinvestment in IDBI Bank

LIC is currently the promoter of IDBI Bank with management control and GoI is the co-promoter

Digital banking can mask risks, say CROs at Business Standard webinar

Efforts to identify key personnel risks need to increase by many notches, given the amount of investments being made in technology, and the number of digital transactions

IDBI Bank jumps 11% as Cabinet may soon consider disinvestment proposal

The government had planned to sell its balance stake in IDBI Bank to private, retail, and institutional investors through the stock exchange in the last financial year

Cabinet to take up divestment of 45.5% stake in debt-laden IDBI Bank soon

The government had planned to sell its balance stake in IDBI Bank to private, retail, and institutional investors through the stock exchange in the last financial year

Stressed and not showing: Covid-19 relief hides true picture about banks

Banks seem to be doing better as India's economy recovers from the Covid-19 devastation. But be prepared for shocks when a true picture emerges, writes Devangshu Datta