IDBI Bank Q2 net profit falls 6.3 per cent

Public sector lender IDBI Bank has reported a 6.3 per cent drop in its net profit in the second quarter of the current financial year on the back of additional provisioning for pensions.

The bank reported a net profit of Rs 483.5 crore in the July-September period against Rs 516 crore  last financial year.

Total income of IDBI Bank rose 9.5 per cent to Rs 6,880 crore.

The public sector lender on Wednesday also slashed interest on home loans by 0.25 per cent and the deposit rates in select brackets by up to 0.50 per cent.

With inputs from agencies