Oct 21, 2021 08:22 PM IST
- Oct 21, 2021 08:22 PM IST
- Oct 21, 2021 07:47 PM IST
The LIC-owned bank had reported a standalone profit after tax of Rs 324 crore in the year-ago quarter.
- Oct 14, 2021 12:40 PM IST
While IDBI Bank’s improved profitability and strengthened balance sheet is comforting, the prospective buyer will be lured by the banking licence and the large deposit base
- Sep 19, 2021 02:33 PM IST
The Cabinet had in May given in-principle approval for IDBI Bank's strategic disinvestment along with transfer of management control.
- Aug 20, 2021 10:46 PM IST
In May, the Cabinet Committee on Economic Affairs had given its in-principle approval for strategic disinvestment along with transfer of management control in IDBI Bank Ltd. The government and LIC together own more than 94% of equity of IDBI Bank (GoI 45.48%, LIC 49.24%). On August 14, Moneycontrol had reported that KPMG was the lead contender for the role of transaction advisor.
- Aug 14, 2021 04:18 PM IST
In May, the Cabinet Committee on Economic Affairs had given its in-principle approval for strategic disinvestment along with transfer of management control in IDBI Bank Ltd. The government and LIC together own more than 94% of equity of IDBI Bank (GoI 45.48%, LIC 49.24%).
- Aug 08, 2021 05:56 PM IST
The firms that have bid for acting as transaction advisor are Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM Financial Ltd, KPMG, RBSA Capital Advisors LLP and SBI Capital Markets.
- Aug 02, 2021 04:24 PM IST
The disinvestment programme has been deferred as the Centre would require more time to seek the Parliament's nod on changes in the law that would clear the privatisation of the selected state-run banks.
- Jul 28, 2021 04:55 PM IST
- Jul 28, 2021 04:55 PM IST
- Jul 28, 2021 04:42 PM IST
The LIC-controlled private sector bank had posted a net profit of Rs 144.43 crore for April-June 2020-21.
- Jul 01, 2021 01:05 PM IST
Account-holders of various private banks like Axis and IDBI bank, along with public sector banks like Canara Bank, Bank of Baroda, Syndicate Bank, and SBI, one of India’s largest lenders will be impacted
- Jun 25, 2021 12:45 PM IST
A 2018 amendment in the IBC allows the committee of creditors (CoC) to withdraw the insolvency application with the approval of a 90 percent majority.
- Jun 23, 2021 09:43 AM IST
At present, IDBI Bank is classified as a private sector bank by the RBI with government shareholding at 45.5 percent, Life Insurance Corporation of India (LIC) shareholding at 49.24 percent and the Non-promoter shareholding at 5.29 percent.
- Jun 22, 2021 07:01 PM IST
The government has not yet finalized how much stake to sell and will do so in consultation with the RBI, LIC Ltd, and the appointed transaction advisor, a senior government official told Moneycontrol. The stake offloaded could be anything between 26 percent (the minimum required to transfer management control) and the centre's entire stake, which is currently at 45.5 percent
- Jun 15, 2021 08:51 PM IST
IDBI bank is all set for sale with Cabinet Committee on Economic Affairs giving its in-principle approval for strategic disinvestment and transfer of management control. The board of LIC has also passed a resolution to the same effect. Both, LIC and the government, plan to sell all or part of their stake in the lender. Undoubtedly, privatisation would unlock value of IDBI’s deposit franchise. With the bank’s market cap to deposits ratio at just 18% compared to over 30% for small to mid-sized private banks, there is possibility of further upside in valuation.
- Jun 15, 2021 09:57 AM IST
While the current valuation of IDBI Bank is pricing in the improvements in operating metrics and profitability, there can be further upside, driven by the potential sale of bank
- Jun 11, 2021 08:30 PM IST
Introducing the revision of services in savings bank accounts, the lender in a notice said the free transaction limits (for select facilities) and lock discounts offered to individual savings bank customers are being revised from July 1, 2021.
- Jun 10, 2021 11:22 AM IST
Mahesh Kumar Jain's new two-year term as RBI Deputy Governor will begin on June 22. He has over 30 years of banking experience, was the MD of IDBI Bank in 2017 and Chennai-based Indian Bank in 2015.
- Jun 03, 2021 08:35 PM IST
Mumbai-headquartered IDBI had entered into loans totalling USD 148 million with two Singapore registered companies -- Varada Drilling One Pte Ltd and Varada Drilling Two Pte Ltd -- for the construction of two jack up drilling rigs in March 2013.
- May 28, 2021 06:32 PM IST
Sectors like Hospitality, Restaurant and aviation are largely impacted apart from self-employed, Micro and Small units/business in containments zones
- May 20, 2021 08:29 PM IST
The Loan Processing System (LPS) for MSME and agri products seamlessly integrates with data fintechs, bureau validations, document storage, account management and customer notifications among others, IDBI Bank said in a statement.
- May 19, 2021 11:51 AM IST
Under the agreed one-time settlement with Sivasankaran’s SIHL, banks will get 10 percent of their money owed which they say is better than liquidation value. Some eperts say defaulting promoters could use this way to take back control of their companies at a pittance.
- May 06, 2021 01:34 PM IST
LIC which is the promoter of IDBI Bank is likely to sell stake and unlock value ahead of its initial public offering in Q3FY22.