Bachelor's Area

IDFC is back on track in 2009-10, largely led by traction in fee-based income, though core business also showed improved performance. Net interest income from infrastructure lending maintained last year’s growth rate of 34 per cent year-on-year (yo-y), aided by improved net interest margins of 2.8 per cent. Non-interest income rose 55 per cent to Rs 950 crore after falling marginally in 2008-09 due to increase in the equity book, jump in assets under management (led by mutual funds) and strong momentum in capital markets. Net profit rose 42 per cent to Rs 1,062 crore, as provision for loans declined 15 per cent due to near-zero non-performing assets. IDFC’s balance sheet size grew 13 per cent to Rs 33,562 crore - almost double the growth rate of 7 per cent clocked in 2008-09 - as loan book expanded 21.5 per cent to Rs 25,000 crore. Gross approvals tripled, while gross disbursements jumped 60 per cent, mainly on account of alower base of last year. The widening gap between disbursem...