Net profit of IDBI Bank surges to all time high at Rs 927 cr

Net profit of the IDBI bank stood at Rs 927 crores, registering a growth of 60 percent on y-o-y basis and 12 percent on q-o-q basis

Alt=
Net profit of the IDBI bank stood at Rs 927 crores, registering a growth of 60 percent on y-o-y basis and 12 percent on q-o-q basis

New Delhi: The IDBI Bank released its financial statement on Monday, said a regulatory filing. It also stated that the net profit of the bank stood at Rs 927 crores, registering a growth of 60 percent on y-o-y basis and 12 percent on q-o-q basis. Its operating profit stands at Rs 2,051 crore, registering a growth of 16 percent on y-o-y basis, said the filing.

NII improved by 23% for Q3FY23 to Rs 2,925 cr

Net Interest Income (NII) improved by 23 percent for Q3FY23 to Rs 2,925 crore as against Rs 2,383 crore for Q3FY22. NII stood Rs 2,738 crore for Q2FY23, said the filing. Net Interest Margin (NIM) improved to 4.59 percent for Q3FY23 as compared to 3.88 percent for Q3FY22. NIM stood at 4.37 percent for Q2FY23, it added.

IDBI Bank privatisation: Govt extends bid submission deadline till Jan 7

Cost of deposit increased marginally by 2 bps to 3.52%

“Cost of deposit increased marginally by two bps to 3.52 percent for Q3FY23 as compared to 3.5 percent for Q3FY22. Cost of deposit stood at 3.44 percent for Q2FY23. Cost of funds increased marginally by three bps to 3.82 percent for Q3FY23 as compared to
3.79 percent for Q3FY22. Cost of funds stood at 3.72 percent for Q2FY23,” it added.

“Return on assets stands at 1.22 percent, registering a growth of 41 percent on y-o-y basis and 13 percent on q-o-q basis while return on equity stands at 15.79 percent, registering a growth of 313 bps on y-o-y basis and 58 bps on q-o-q basis. Its CASA to total deposit ratio stood at 54.44 percent,” said the filing.

“Its net NPA stood at 1.07 percent and gross NPA stood at 13.82 percent. Its PCR stood at 98 percent as compared to 97.1 percent on December 31, 2021 and 97.8 percent on
September 30, 2022,” it added.

(PSU Watch– India’s Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)