Emirates NBD Emerges as Frontrunner for IDBI Bank Stake Acquisition
Emirates NBD is reportedly leading the race to acquire a stake in IDBI Bank, as per a Moneycontrol report. The Department of Investment and Public Asset Management (DIPAM) has been discussing valuations with potential bidders. This aligns with the Indian government's disinvestment strategy for public sector banks. The potential entry of Emirates NBD into the Indian market could have significant implications for the banking sector. Details about the stake size and valuation remain undisclosed. The process is ongoing, and market observers await official announcements and regulatory approvals.
13May 25
IDBI Bank Sells 21.14% Stake in PIPDIC to Puducherry Government for ₹188.3 Million
IDBI Bank has divested its 21.14% stake in the Puducherry Industrial Promotion Development and Investment Corporation (PIPDIC) to the Government of Puducherry for ₹188.30 million. This strategic move aligns with IDBI Bank's efforts to streamline its investment portfolio. While the transaction's financial impact is relatively small compared to the bank's overall assets, it reflects IDBI's commitment to optimizing its asset allocation. Recent financial data shows IDBI Bank's total assets increased by 9.89% to ₹363,190.00 crore, and investments grew by 15.29% to ₹114,933.90 crore compared to the previous year.
IDBI Bank: Q4 Profit Surges 25%, Dividend Announced
IDBI Bank announced its Q4 FY2023 results, reporting a 25.2% year-on-year increase in consolidated net profit to ₹2,072.00 crore. The bank's performance was marked by stable interest income and a significant jump in other income. Asset quality improved with GNPA ratio decreasing to 2.98% and NNPA ratio reducing to 0.15%. The bank maintained a strong Capital Adequacy Ratio of 25.05% and improved Return on Assets to 2.11%. The Board recommended a dividend of ₹2.10 per equity share for FY2023.
26Apr 25
IDBI Bank to Announce Q4 and FY25 Results, Consider Dividend on April 28
IDBI Bank Ltd will release its Q4 and FY2025 financial results on April 28, 2025. The board meeting will also consider dividend recommendations. A trading window closure for designated persons is in effect from April 1 to April 30, 2025, to prevent insider trading.
23Apr 25
IDBI Bank Board to Meet for Q4 Results and Dividend Decision
IDBI Bank Ltd. has announced a board meeting for April 28, 2025, to review and approve Q4 and FY2025 audited financial results and consider dividend distribution. The bank has implemented a trading window closure for designated persons until April 30, 2025, in compliance with SEBI regulations.
09Apr 25
IDBI Bank Stake Sale Progresses as Government Pushes Disinvestment Plans
The Indian government is progressing with its plan to sell its stake in IDBI Bank as part of its disinvestment strategy for public sector banks. Simultaneously, IDBI Bank has issued a postal ballot notice to shareholders for voting on special business matters. The e-voting period is set from April 9 to May 8, 2025, with results to be declared by May 10, 2025. The bank has appointed KFin Technologies Limited to manage the remote e-voting process and has named scrutinizers to ensure a fair voting procedure.
03Apr 25
IDBI Bank Reports Robust 13% Growth in Total Business for Q4 FY25
IDBI Bank's Q4 FY25 business update shows significant growth across key metrics. Total business increased by 13% YoY to ₹5,28,714.00 crore. Total deposits grew by 11.75% to ₹3,10,293.00 crore, while net advances rose by 15.8% to ₹2,18,421.00 crore. CASA deposits increased by 3.18% to ₹1,44,478.00 crore. The bank also promoted three executives to Executive Director positions, effective April 1, 2025.
21Mar 25
IDBI Bank Faces ₹36.3 Lakh RBI Penalty for FEMA Violation
IDBI Bank has been penalized ₹36.30 lakh by the Reserve Bank of India for violating Foreign Exchange Management Act regulations. The bank failed to conduct proper due diligence on 363 inward remittances from a foreign currency account between June 2016 and January 2023. IDBI Bank disclosed the penalty to stock exchanges as per SEBI regulations, stating it won't impact their financial operations.
10Mar 25
IDBI Bank Privatisation: Government Aims to Seal Deal by First Half of FY26
The Indian government is advancing the privatization of IDBI Bank, planning to finalize the share purchase agreement this month. Financial bids from prospective buyers will be invited soon. The sale involves a combined 60.72% stake from the government (30.48%) and LIC (30.24%). The privatization process is expected to complete by H1FY26. Due diligence has been completed and data-related issues resolved, marking significant progress in the divestment process.
03Mar 25
IDBI Bank Secures £114 Million Victory in London Court Against Ex-Aircel Promoter
A London court has ruled in favor of IDBI Bank, ordering Chinnakannan Sivasankaran's Siva Industries to pay $143.7 million (₹1,250 crore) for a defaulted loan. The court rejected Siva Industries' argument that a letter of comfort doesn't impose the same liability as a corporate guarantee. While this verdict strengthens IDBI Bank's position internationally, enforcing the judgment in India may face challenges despite the UK being a reciprocating territory for legal matters.