InvestorQ : Why are IDBI results still so bad after all the efforts put in by the government and the RBI?
Angel dcosta made post

Why are IDBI results still so bad after all the efforts put in by the government and the RBI?

Answer
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Anamika Sodhani answered.
7 months ago


This is a larger problem with the asset quality and cannot be resolved overnight. First, let me run you through the results. There was little respite for IDBI Bank as results for the Dec-19 quarter continued to deteriorate. The bank posted net loss of Rs.5763 crore for the quarter. This loss was principally on account of a hit of Rs.6273 crore taken by the bank in this quarter for exercising the option of paying lower corporate taxes. Gross NPAs of IDBI Bank improved marginally from 29.67% to 28.72%, but still remains dangerously high. IDBI Bank has a major exposure to troubled stocks like DHFL, Jain Irrigation and Kingfisher Airlines.