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.
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.
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.