IDBI Bank pays Rs 114.5 cr dividend to govt | india | Hindustan Times
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IDBI Bank pays Rs 114.5 cr dividend to govt

india Updated: Aug 15, 2010 14:47 IST

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State-owned IDBI Bank paid Rs 114.5 crore dividend to the government for 2009-10.

IDBI Bank paid a dividend of Rs 3 per share (30 per cent dividend on the face value of Rs 10) for the financial year ended March 2010 on the share capital of the bank held by the government, the bank said in a statement.

The dividend cheque was handed over to Finance Minister Pranab Mukherjee by IDBI Chairman and Managing Director R M Malla on Saturday.

During 2009-10, IDBI Bank posted a 20 per cent increase in its net profit at Rs 1,031 crore as against the last year. Operating profit of the bank rose 97.9 per cent to Rs 2,727 crore.

The bank reported a Net Interest Income (NII) of Rs 2,267 crore as against Rs 1,239 crore in the previous year, recording a growth of 82.9 per cent.

The bank with a network of 726 branches had a balancesheet size of Rs 2,24,657 crore as on June, 2010.

IDBI Bank's operation during the first quarter ended June, 2010, resulted in a net profit of Rs 251 crore, it said.