State run lender, IDBI Bank, is planning to raise Rs 4,000 crore via issue of the long-term domestic bonds in small tranches, through private placement to fund its long-term infrastructure needs. Recently, ICRA assigned an ‘AA+’ rating with stable outlook to Rs 4,000 crore senior/ lower tier II bonds programme of IDBI Bank.
The rating agency has an ‘AA’ rating with stable outlook outstanding on the perpetual bonds programme and upper tier II bonds programme of the bank. Further, ICRA has ‘A1+’ and ‘MAA+ ' outstanding on the certificate of deposits programme and the fixed deposit programme of IDBI Bank respectively.
The bank posted a rise of 49.30% in its net profit at Rs 770.78 crore for the quarter ended March 31, 2012 as compared to Rs 516.25 crore for the same quarter in the previous year. Total income has increased by 20.27% at Rs 6856.42 crore for quarter under review as compared to Rs 5700.65 crore for the quarter ended March 31, 2011.
