IDBI Bank back in black in FY21 after five years
The Hindu
Lender posts a profit of ₹1,359 crore
LIC-controlled IDBI Bank turned profitable in the fiscal ended March after five years, posting a net profit of ₹1,359 crore for the year. In 2019-20, the lender had posted a net loss of ₹12,887 crore. IDBI Bank is back in black after five years, said the lender. In the last quarter of the fiscal year 2020-21, the bank reported an almost fourfold jump in its net profit to ₹512 crore, IDBI Bank said in a press release
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