THE TRUTH ABOUT: Idbi bank - The Untold Story

"What's the hurry?": BRS questions IDBI Bank valuation, seeks answers from Centre over proposed sale

K T Rama Rao raised concerns regarding the proposed sale of IDBI Bank to Fairfax Financial Holdings. He highlighted potential undervaluation and transparency issues in the bidding process. Rao questioned the assessment of the bank's prime real estate assets in Hyderabad. Concerns from IDBI Bank employees about the sale have…

The Economic Times · 10m ago

‘IDBI Bank was handed over to us in poor shape’: Sitharaman hits back at Rahul Gandhi amid sale row

Nirmala Sitharaman responded to criticisms regarding the sale of IDBI Bank's majority stake. The bank was previously in poor condition and has since been revived. She stated that prudent management and recapitalization led to its current profitability. Rahul Gandhi has expressed concerns over job security and the impact of privatization…

The Economic Times · 22h ago

“During Congress’s time, banks were created; in Modi era, they are being sold”: Rahul Gandhi targets govt over IDBI Bank sale

Rahul Gandhi has criticised the Centre's proposed sale of a 60.72% stake in IDBI Bank, questioning the privatisation of a profitable public sector lender. Backing the bank's employees, he flagged concerns over reservation provisions, service conditions and pension benefits as the government defended the disinvestment bidding process.

The Economic Times · Oct 30

IDBI Bank shares in focus as Q2 net profit falls 39%; NII tanks nearly 50% YoY

IDBI Bank reported a 39% YoY decline in Q2 FY27 net profit, partly due to a one-off gain in the previous year. Despite this, underlying profitability, margins, asset quality, deposits and advances showed improvement. Meanwhile, Fairfax Financial’s proposed 60.72% stake acquisition marks a major milestone in the bank’s privatisation.

The Economic Times · Oct 19

Stocks in news: Vedanta, HDFC Bank, ICICI Bank, Axis Bank, HFCL, IREDA, Zen Tech and Oil India

Indian equities turned around as information technology stocks attracted sustained buying interest. Strong quarterly earnings reports enhanced investor confidence in the market, with the Nifty 50 index achieving a closing point of 23,146, representing a 0.65% rise. Prominent companies like HDFC Bank and ICICI Bank shared their quarterly outcomes, showcasing…

The Economic Times · Oct 19

Pivot to Privatisation 2.0: Why IDBI Bank’s sale should rev up India’s push to privatise remaining non-strategic PSBs and PSUs

Last week, the Cabinet Committee on Economic Affairs approved the sale of IDBI Bank's majority stake. The stake, held by the Government of India and LIC, will be sold to Fairfax Financial Holdings Ltd. This decision is part of the ongoing privatisation programme aimed at modernising the Indian economy.

The Economic Times · Oct 18

IDBI Bank Q2 results: Net profit tanks 39% YoY to Rs 2,205 crore; NII dips 49% YoY

IDBI Bank reported a 39% year-on-year profit decline to Rs 2,205 crore in Q2 FY27, impacted by a one-off gain in the previous year. Excluding this, profit rose 14%. Asset quality improved, deposits grew 17%, advances increased 18%, and net interest margins strengthened sequentially to 4.11%.

The Economic Times · Oct 17

Fairfax's IDBI buy: Biggest-ever banking M&A deal in India had no investment bankers

Fairfax Financial Holdings’ $5.6 billion acquisition of a controlling stake in IDBI Bank is significant not just for being the biggest foreign investment in India’s banking sector, but also because the transaction was handled without the involvement of major investment banks. Fairfax and IDBI Bank did not launch a formal…

The Economic Times · Oct 17

Finance Ministry clarifies on legislative developments concerning govt's IDBI Bank stake

The Finance Ministry clarified the legislative developments regarding IDBI Bank's government stake in 2003. An amendment to restrict the dilution of the government's ownership was proposed but ultimately rejected during parliamentary discussions. The ministry highlighted that this issue was previously examined by the Delhi High Court. This examination took place…

The Economic Times · Oct 17

IDBI Bank sale to Fairfax enters final lap, RBI nod now key: DIPAM

The strategic sale of IDBI Bank to Canada’s Fairfax Financial Holdings is expected to be completed by the end of FY27, subject to RBI approval, DIPAM Secretary Arunish Chawla said. Fairfax will acquire a 60.72% stake from the government and LIC for about Rs 53,000 crore, in what the government…

The Economic Times · Oct 16