Is IDBI Bank in trouble?

Is IDBI Bank in trouble?

When IDBI Bank was first put under PCA in May 2017, it had a net bad loan ratio of over 15% and had reported a third consecutive quarterly loss. Its gross bad loan ratio was a whopping 24.11% and its capital was eroding at a breakneck pace.

What happened to IDBI Bank?

LIC of India completed the acquisition of 51% controlling stake in IDBI Bank on January 21, 2019 making it the majority shareholder of the bank. LIC of India posses the management control of the bank while the Government of India, categorized as a Promoter (in disclosures) still holds 45.48% as of September 2021.

How stable is IDBI?

Rating agency said IDBI Bank’s asset quality will remain robust and better than peers in India in the next 12 to 18 months. The provision coverage ratio (PCR) increased to 97 per cent as of the end of March 2021, from 91 per cent at the end March 2019.

Is IDBI a good bank?

Their service is good. Need to maintain a minimum balance of 1000 rupees on monthly and now there was no requirement. 0.5 5.0/5 “Blown Away!” From 2018, i have been using the salary account from IDBI bank and the banking service is good.

Is IDBI Bank safe 2020?

Investing in a fixed deposits with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option. Thus, IDBI Bank term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.

Is IDBI merged with any bank?

Desirous of fuelling its business growth, IDBI Ltd. merged its subsidiaries – the erstwhile IDBI Bank, IDBI Home Finance Ltd., IDBI Gilts, the erstwhile United Western Bank Ltd., with itself over a period of time.

What is the rating of Icici Bank?

S&P Global Ratings has revised its rating outlook on ICICI Bank to stable from negative. It has affirmed its ‘BBB-‘ long-term and ‘A-3’ short-term issuer credit ratings on the private sector lender as well as its ‘BBB-‘ long-term issue rating on the bank’s senior notes.