IDBI Q1 net profit up at Rs 153 cr

Mumbai, July 18 (UNI) IDBI has reported a net profit higher of Rs 153 crore for the quarter ended June 30, 2007, as against Rs 151 crore in the corresponding quarter last year.

The Bank continued to maintain a high overhead efficiency ratio of 195 per cent during the three months ended June 30, an IDBI press release said here today.

As of June 30, IDBI's total business (deposits and advances) stood at Rs 106,529 crore as against Rs 81,733 crore, registering a growth of 30 per cent.

Deposits increased by a robust 61 per cent to Rs 46,757 crore (Rs 29,096 crore as of June 30, 2006). Low-cost current account and savings account (CASA) deposits now account for 21 per cent of total deposits.

Advances increased by 14 per cent to Rs 59,772 crore as compared to Rs 52,637 crore as of June 30, 2006.

Aggregate assets stood at Rs 105,147 crore as against Rs 89,615 crore for the same period last year, registering a growth of 17 per cent.

IDBI continued to maintain a sound capital base as indicated by its capital adequacy ratio (CAR). As against the stipulated RBI norm of 9 per cent, the Bank's CAR stood at 14.38 per cent (Tier-I: 9.28 per cent) as of June 30, 2007. The Bank's CAR at March 31, 2007 was 13.73 per cent (Tier-I: 9.11 per cent).

UNI