Mumbai, Jan 27 (Agencies): IDBI Bank is high on investor confidence as its Q4 net profit jumped by 58 per cent on Thursday, at Rs 454 crore for the quarter ended December 31, 2010.

The bank had a net profit of Rs 287 crore when compared to the same quarter of 2009-10, which was Rs 717 crore. This quarter the net interest income (NII) stands at Rs 1,204 crore.

Not just that, the lender's total business (deposits and advances) stood at Rs 2,84,729 crore, which is 12 per cent more than the Rs 2,54,075 crore in the corresponding period of the last fiscal.

While deposits saw growth by 5 per cent to Rs 1,50,239 crore, advances jumped by 21 per cent to Rs 1,34,491 crore.

Meanwhile, the bank's Board of  Directors has given in-principle nod to the merger of two its subsidiaries -- IDBI Home Finance Ltd and  IDBI Gilts Ltd with itself, the filing made with BSE said.