IDBI Bank has received ‘BBB-’ rating for its proposed issue of senior unsecured notes from Credit rating agency, Standard & Poor’s (S&P). The rating on the notes reflects the long-term counterparty credit rating on the bank.
The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of IDBI.
The bank posted a rise of 27.53% in its net profit at Rs 427.34 crore for the quarter ended June 30, 2012, as compared to Rs 335.10 crore for the same quarter in the previous year. Total income of the bank increased by 12% to Rs 6786.81 crore for the quarter under review as compared to Rs 6059.83 crore for the quarter ended June 30, 2011.
