S&P downgrades IDBI Bank to below investment grade; shares slip

Stock in IDBI Bank Ltd slipped as much as 2 per cent in early morning trade on Tuesday, after global ratings agency Standard & Poor's (S&P) downgraded the lender's foreign currency issuer credit rating.

S&P slashed IDBI's credit rating from BBB- to BB+, to below investment grade citing weaker asset quality. It also lowered its long-term outlook for public-sector lender to `negative'. The global agency also revised its assessment of IDBI's risk position from "adequate" to "moderate".

IDBI Bank Q4 net up 62%

IDBI Bank Q4 net up 62%In Q4 ended March 31, 2011 IDBI reported a rise in net profits by 62.13% at Rs 516.25 crore.

During its filing to the Bombay Stock Exchange (BSE), IDBI reported that in the same quarter last year, the company reported net profit of Rs 318.41 crore.

The company further said that its annual profit ended on March 31, 2011 is Rs 1,650.32 crore against Rs 1,031.13 crore in the same period year-ago.

FPO by January Planned by IDBI

Q3 to see interest rates going up, says IDBI

Industrial Development Bank Of IndiaIt is quite possible that from third quarter this year, interest rates - both on deposits and advances - might increase, as predicted by state-run IDBI Bank.

According to Yogesh Agarwal, Chairman and Managing Director, IDBI Bank, vast government borrowing programme, along with expected demand push from the corporate sector in the third quarter, would lead to the interest rates' increase.

IDBI Bank lowers loan, deposit growth forecasts

IDBI Bank lowers loan, deposit growth forecastsCountry's leading public sector lender, the IDBI Bank hopes deposit growth rate of 20 per cent and a loan disbursement rate of 18 per cent for the current financial year.

However, the targets are lower than the growth rate achieved in the last financial year when its loans and deposit portfolio grew at 26 per cent and 56 per cent respectively.

ICICI Bank, IDBI cuts deposit rates

ICICI Bank, IDBI cuts deposit ratesCountry's two leading lenders, ICICI Bank and IDBI, have revised deposit rates on Friday, cutting interest rates on fixed deposits by up to 100 basis points (bps) across various maturities.

IDBI drops BPLR by 0.5%; SBI slashes between 0.25-0.50%

IDBI drops BPLR by 0.5%; SBI slashes between 0.25-0.50% Signaling a downward trend in deposit rates, State-owned IDBI Bank today dropped its benchmark prime lending rate (BPLR) by half a percentage points to 13 per cent effective from April 15.

In addition, the lender also reduced its deposit rates by 0.25-0.5 per cent across various maturities.

IDBI Bank hikes BPLR by 50 bps

IDBI Bank Limited has informed that it has raised Benchmark Prime Lending Rate (BPLR) by 50 basis points (bps) to 14.25% p.a.

The new benchmark prime lending rate (PLR) will be effective from Aug 9.     

Other banks and institutions that have increased PLR after the latest rate hikes by the Reserve Bank of India (RBI) include SBI, ICICI Bank, HDFC Bank, Punjab National Bank, Axis Bank, IDBI Bank, YES Bank, and Corporation Bank.