1581423635 1761

Ranch
Due to the increase net interest income and the decline in non-performing loan reserves, as of the third quarter of December 2019 (the third quarter of fiscal year 20), Bank, a private sector lender, had a pre-tax profit (PBT) of Rs 7.58589 billion.

Ranch
Mumbai-based lenders reported a pre-tax loss of Rs 580.5 crore December 2018 (third quarter of FY19).

Ranch
However, the bank reported a net loss of Rs 576.3 crore the reporting quarter, compared with a net loss of Rs 418 crore in the third quarter of FY19. It exercised the option of a lower tax rate and reached Rs 62.73 crore at one time in the third quarter of FY20.

Ranch
At BSE, its shares closed up 2.1% to Rs 35 per share.

Ranch
The bank is a subsidiary of the state-owned LIC and has been under the Reserve Bank of India's Rapid Corrective Action (PCA) system due to weak asset quality and profitability. It is expected to withdraw from the PCA system at the end of the fiscal year.

Ranch
The bank said a statement that its net interest income (NII) increased by 13% to Rs 15.32 crore in the third quarter of fiscal 20 compared to Rs 13.57 crore in the same quarter of the previous fiscal year. Net interest margin (NIM) rose from 1.88% in the third quarter of FY19 to 2.27% in the reporting quarter.

Ranch
Its advance payment decreased from Rs 1,52,520 crore a year to Rs 1,29,671 crore December 2019. The ratio of retail loans to total advances increased from 48% to 55%. By December 2019, the proportion of corporate loans had fallen from 52% a year ago to 45%.

See also  This revolutionary upgrade, Nokia 9.3 PureView 5G may destroy the iPhone 12 Pro.

Ranch
The bank gave guidance on a 10% increase credit in 2020-21.

Ranch
As of December 31, 2019, its deposits had increased from 229.966 crore to 218.18 crore. The share of low-cost savings accounts and current accounts (CASA) rose to 47.65% the third quarter of fiscal year 20 from 38.36% a year ago.

Ranch
During the reporting quarter, IDBI's asset quality has improved. the third quarter of fiscal 20, total non-performing assets (GNPA) was 28.72%, compared with 29.67% in the third quarter of fiscal 19.

Ranch
The non-performing loan reserve decreased from Rs 50.74 crore in the third quarter of FY19 to Rs 440 crore in the third quarter of FY20. The reserve coverage ratio, including the non-performing asset reserve written off by technology, was 92.41% in December 2019 and 75.21% on December 31, 2018.

Ranch
As of December 31, 2019, the independent capital adequacy ratio reached 12.56%, and the Tier 1 capital adequacy ratio reached 10.16%.

By Rebecca French

Rebecca French writes books about Technology and smartwatches. Her books have received starred reviews in Technology Shout, Publishers Weekly, Library Journal, and Booklist. She is a New York Times and a USA Today Bestseller...