Mumbai, August, 1: IDBI Bank, 10th largest development bank in the world in terms of reach, has appointed Shri P. S. Shenoy as Independent Director of the Bank.

IDBI Bank Ltd has informed BSE that the Board of Directors at its meeting held on July 30, 2011 has appointed Shri P. S. Shenoy as Independent Director of the Bank  to fill the casual vacancy caused by the resignation of Dr. Sailendra Narain.

Dr. Sailendra Narain has resigned from the directorship of IDBI Bank Ltd with immediate effect on November 04, 2010. The post was vacant since then.

IDBI Bank ’s net profit has grown by 33.46 % to Rs. 335.10 crore for the quarter ended in June, 2011 from Rs. 250.89 crores in the same period a year-ago.

Total Income has increased by 27.44 % to Rs. 6059.8 crores for the quarter ended June 30, 2011 from Rs. 4755.02 crores for the quarter ended June 30, 2010. An increased of 27 % in the total income of the public lender in first quarter of 2011.

The provision for bad loan and tax has increased to Rs.279.60 crore in first quarter of 2011.

The capital adequacy ratio of IDBI Bank has increased to13.83 % for this quarter from 11.86% at the corresponding period of last year.

At the same time Net NPA of IDBI Bank has decreased to Rs. 1932.80 crores for first quarter of financial year 2011 from Rs.1605.71 crores in same period of last year.

EPS has fallen down to Rs 3.46 per share in spite of increase in revenue and profit after tax.