* Net Advances at Rs 1,38,046 crore, YoY growth of 12%,
* CRAR stood at 19.57%, YoY growth of 334 bps
Highlights of Q1 FY 2023:
* Net profit of Rs 756 crore, QoQ growth of 10%.
* Operating Profit of Rs 2,052 crore, QoQ growth of 36%.
* NII stood at Rs 2488 crore, QoQ growth of 3%.
* NIM at 4.02% (3.73% excluding interest on IT refund), QoQ growth of 5bps.
* Cost of Deposit stood at 3.36% for Q1 of FY 2023 as against 3.43% for Q4 of FY 2022.
* Cost of Funds stood at 3.63% for Q1 of FY 2023 as against 3.69% for Q4 of FY 2022.
* CRAR at 19.57%, QoQ growth of 51 bps.
* Return on Assets (ROA) at 1.03%, QoQ growth by 8 bps.
* Return on Equity (ROE) at 14.80%, QoQ growth by 32 bps.
* CASA ratio stood at 55.65% for Q1 of FY 2023 as against 56.77% for Q4 of FY 2022.
* Net NPA at 1.25% for Q1 of FY 2023 as against 1.36% for Q4 of FY 2022.
* PCR stood at 97.79% as against 97.63% as on March 31, 2022.
Operating Performance:
* Net Profit improved by 25% for Q1-2023 to Rs 756 crore as against net profit of Rs 603 crore for Q1-2022. Net Profit for Q4-2022 was Rs 691 crore.
* PBT improved by 7% for Q1-2023 to ?1,093 crore as against Rs 1,024 crore for Q1-2022. PBT for Q4-2022 was Rs 844 crore.
* Operating profit stood at Rs 2,052 crore for Q1-2023 as against Rs 2,868 crore for Q1-2022. Operating profit was at Rs 1,513 crore for Q4-2022.
* Net Interest Income stood at Rs 2,488 crore for Q1-2023 as against Rs 2,506 crore for Q1-2022. NII stood Rs 2,420 crore for Q4-2022.
* Net Interest Margin (NIM) stood at 4.02% (3.73% excluding interest on IT refund) for Q1-2023 as compared to 4.06% for Q1-2022. NIM stood 3.97% for Q4-2022.
* Cost of Deposit reduced by 36 bps to 3.36% for Q1-2023 as compared to 3.72% for Q1-2022. Cost of deposit stood at 3.43% for Q4-2022.
* Cost of Funds reduced by 35 bps to 3.63% for Q1-2023 as compared to 3.98% for Q1-2022. Cost of funds stood at 3.69% for Q4-2022.
Business Growth
* CASA improved to Rs 1,25,356 crore as on June 30, 2022 as against Rs 1,16,595 as on June 30, 2021 (YoY growth of 8%). CASA stood at Rs 1,32,359 crore as on March 31, 2022.
* Share of CASA in Total Deposits improved to 55.65% as on June 30, 2022 as against 52.43% as on June 30, 2021 and 56.77 % as on March 31, 2022.
* Net advances grew by 12% YoY to Rs 1,38,046 crore as on June 30, 2022. Gross advances stood at Rs 1,70,390 crore as on June 30, 2022, YoY growth of 9%.
* The composition of Advances portfolio Corporate v/s Retail was at 37:63 as on June 30, 2022.
Asset Quality
* Gross NPA ratio improved to 19.90% as on June 30, 2022 as against 22.71% as on June 30, 2021. Gross NPA stood at 20.16% as on March 31, 2022.
* Net NPA ratio improved to 1.25% as on June 30, 2022 as against 1.67% as on June 30, 2021. Net NPA ratio stood at 1.36% as on March 31, 2022.
* Provision Coverage Ratio (including Technical Write-Offs) improved to 97.79% as on June 30, 2022 from 97.42 % as on June 30, 2021. PCR stood at 97.63% as on March 31, 2022.
Capital Position
* Tier 1 improved to 17.13% as on June 30, 2022 as against 16.68% as on March 31, 2022 and 13.64% as on June 30, 2021.
* CRAR improved to 19.57% as on June 30, 2022 as against 19.06 % as on March 31, 2022 and 16.23% as on June 30, 2021.
* Risk Weighted Assets (RWA) reduced by 0.29% to Rs 1,53,832 crore as on June 30, 2022 as against Rs 1,54,285 crore as on June 30, 2021. Total RWA was Rs 1,54,559 crore as on March 31, 2022. Credit Risk weighted assets reduced by 0.88% to Rs 1,21,798 crore as on June 30, 2022 as against Rs 1,22,876 crore as on June 30, 2021. Credit RWA was Rs 1,22,451 crore as on March 31, 2022.
The Board of Directors of IDBI Bank Ltd. (IDBI Bank) met in Mumbai today and approved the financial results for the Quarter ended June 30, 2022.
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