IDBI Bank Q2 loss at Rs 198 cr

IDBI Bank has cut its net loss sharply to Rs 198 crore in the second quarter, against Rs 853 crore in the preceding quarter.Addressing mediapersons here today, IDBI chief general manager RBG – North II, Kumar Neel Lohit, also the zonal head, Chandigarh zone, said the performance of the zone had also been robust with the Current Account and Savings Account (CASA) growth of 28 per cent, advances growth of 10 per cent and agri small and marginal farms growth of 17 per cent. He said the net interest income was up by four per cent year-on-year to Rs 1,657 crore. Other income jumped to 64 per cent year-on-year to Rs 2,293 crore.

This includes amount realised on account of divestment of a part of its stake in Small Industries Development Bank of India (Rs1,266.45 crore) and Clearing Corporation of India (Rs 70.96 crore). Net interest margin (NIM) improved to 2.17 per cent in the reporting quarter as compared to 1.90 per cent quarter ending September 2016.