IDBI Bank News

Delhi HC dismisses appeal against LIC move to acquire 51% stake in IDBI

The IDBI, in which the government holds 85.96 per cent stake, had posted a net loss of Rs 2,409.89 crore in the quarter ended June 2018. It had posted a gross non-performing asset (NPA) of about Rs 57,807 crore.

PSBs’ second quarter provisions 1.5 times their operating profit

In the September quarter of FY19, the same set of public-sector banks (PSBs) had notched up a provisioning burden worth 1.4 times their operating profit.


LIC board decides modalities for stake hike in IDBI Bank

Sources said LIC board has decided on appointment of a merchant banker and a legal advisor to carry out the acquisition process.

LIC board to meet tomorrow to decide IDBI Bank stake hike plan

LIC is in the process of picking up an additional 7 per cent stake in IDBI Bank through preference shares. With this, total holding in the bank would rise to 14.9 per cent. At present, LIC holds 7.98 per cent stake in the public sector bank.

IDBI Bank Q1 loss widens to Rs 2,410 crore

The bank also reported its highest ever gross non-performing asset (NPA) ratio at 30.78 per cent, up 283 basis points (bps) sequentially. Provisions stood at Rs 5,236 crore in the June quarter, 157 per cent higher than what it had reported in Q1FY18.

Cabinet allows LIC to raise stake in IDBI bank to 51 per cent

Depending upon the price at which preferential shares are issued, the IDBI Bank may get capital infusion of around Rs 13,000 crore while its management and ownership control will shift to LIC.


Don’t see problem in getting RBI nod for LIC-IDBI Bank deal, says official

LIC meets the RBI requirements of acquiring a banking company and it should pass through the “filter tests” of the RBI, said a senior government official.

To bring in LIC as promoter: IDBI Bank seeks Centre’s approval

LIC which held 10.82 per cent stake in IDBI Bank had sold part of the stake in the last three months. Insurers stake in the bank is 8.29 per cent.

LIC gets board approval to buy majority stake in IDBI

The government owns 85.96 per cent stake in IDBI Bank, while LIC has 7.98 per cent shareholding in the lender, as per the June-end shareholding details available with the Bombay Stock Exchange.

IDBI Bank officers threaten 6-day strike from Monday to protest stake sale to LIC

Wage revision for IDBI Bank employees are pending since November, 2012. They had threatened to go on strike last year but later it was called off following assurance from the management.