Tuesday, July 23, 2024

IDBI Bank Limited Reports 40% Rise In Profits On YoY Basis


* Net Profit surges to Rs 1,719 crore, registering a growth of 40% YoY and 6% QoQ

* Gross NPA down to 3.87%, YoY reduction by 118 bps

* Net NPA down to 0.23%, YoY reduction by 21 bps

* Provision Coverage Ratio (PCR) at 99.34%

* CRAR at 22.42%

*CASA ratio at 48.57%

IDBI Bank today, announced its quarterly results for Q1 FY25. The Net Profit stood at Rs 1,719 crore for Q1 FY25, registering a strong growth of 40% YoY. The operating profit stood at Rs 2,076 crore. NIM was recorded at 4.18% and Net Interest Income stood at Rs 3,233 crore in Q1-2025 as against Rs 3,998 crore in Q1-2024. Cost of Deposit stood at 4.58% in Q1-2025 as compared to 4.12% in Q1-2024. CRAR stood at 22.42% with YoY growth of 209 bps. Return on Assets (ROA) at 1.83%, YoY growth of 34 bps and Return on Equity (ROE) at 19.87%, YoY growth of 123 bps. Net NPA at 0.23% as against 0.44% as on June 30, 2023 and Gross NPA at 3.87% as against 5.05% as on June 30, 2023.

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