IDBI records net profit

IDBI Bank reported a net profit of US$99 million for the quarter ended December 31, 2010.

This amounts to an increase in net profit by 58 per cent for the quarter compared to the US$62.8 million from the corresponding period last year.

Net Interest Income for the quarter ended December 31, 2010 stood at US$ 263.5 million as against US$156.9 million in the corresponding quarter of the previous year, recording a growth of 68 per cent.

Fee based income during the quarter increased to US$78.58 million as against US$76.6 million in the previous quarter, recording a growth of 3 per cent.

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