IDBI Q2 net profit at Rs 156 cr

Mumbai, Oct 16 (UNI) Industrial Development Bank of India (IDBI) has reported a net profit of Rs 156 crore for the second quarter of the current fiscal as against Rs 139 crore in the corresponding period last year.

The Bank's half yearly net profit stood at Rs 309 crore. The Bank's total business deposits till September this year stood at Rs 112,355 crore as against Rs 85,262 crore, registering a growth of 32 per cent.

Deposits increased by 61 per cent year-on-year to Rs 50,002 crore from Rs 30,953 crore as of September 30, 2006.

The aggregate assets stood at Rs 108,640 crore as against Rs 90,235 crore in the corresponding period last fiscal, registering a growth of 20 per cent.

During the second quarter, IDBI Intech migrated 55 branches of the erstwhile United Western Bank (UWB) onto the core banking platform of the Bank. The Bank had earlier migrated 174 branches of the UWB onto the core banking platform.

IDBI currently has a delivery platform of 453 branches and 555 ATMs spread across 257 centres.

UNI