IDBI Bank Soars: Double-Digit Growth, 15% Advance Hike in Dec Quarter

• IDBI Bank reported double-digit growth in the December quarter, with advances increasing by 15%.
• Total business grew 12% year-on-year to 5.47 lakh crore rupees; total deposits crossed 3.08 lakh crore.
• Net advances rose 15% year-on-year to 2.39 lakh crore rupees, and CASA deposits grew 4% to 1.36 lakh crore.
• These performance data are provisional and await auditor review; official results are pending.
• Shares surged 10.45% on January 2, reaching an 11-year high, amidst government and LIC stake sale plans.

Why It Matters: IDBI Bank shows strong provisional Q3 growth with significant advances and deposits, boosting its share price.