LIC-controlled IDBI Bank will set off its accumulated losses worth Rs 45,586 crore against the balance in the securities premium account, according to the bank’s draft scheme.
Its accumulated losses (or debit balance of profit or loss account) at the end of March 31, 2020, stood at Rs 45,586 crore. And, they were at Rs 44,739 crore as on December 31, 2020.
The accumulated losses as on March 31, 2021, shall be ascertained after the audited financial statements are approved by the bank’s board, said the lender, under the draft scheme addressed to its shareholders for setting off the accumulated losses.
The bank’s authorised share capital is Rs 25,000 crore. The issued, subscribed and paid-up share capital is worth Rs 10,752.40 crore and the security premium is of Rs 50,732.27 crore.
