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Informist, Monday, Jan. 20, 2025

 

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--IDBI Bank Oct-Dec net profit INR 19.08 bln vs INR 14.58 bln year ago
--IDBI Bank Oct-Dec total income INR 85.65 bln vs INR 75.14 bln year ago
--IDBI Bank Oct-Dec provisions INR 1.66 bln vs INR 3.20 bln year ago
--IDBI Bank Apr-Dec net profit INR 54.64 bln vs INR 40.06 bln year ago
--IDBI Bank Apr-Dec total income INR 247.91 bln vs INR 221.50 bln year ago
--IDBI Bank gross NPA ratio 3.57% as on Dec 31 vs 3.68% qtr ago
--IDBI Bank net NPA ratio 0.18% as on Dec 31 vs 0.20% qtr ago
--IDBI Bank Oct-Dec net interest income INR 42.28 bln, up 23% on year
--IDBI Bank provision coverage ratio 99.47% as on Dec 31
--IDBI Bank Oct-Dec cost-to-income ratio at 43.71%
--IDBI Bank net advances INR 2.07 tln as on Dec 31, up 18% on yr
--IDBI Bank total deposits INR 2.82 tln as on Dec 31, up 9% on yr
--IDBI Bank Oct-Dec cost of deposits at 4.63%
--IDBI Bank Oct-Dec net interest margin 5.17% vs 4.72% year ago
--IDBI Bank current, savings account ratio 46.35% as on Dec 31

 

By Vidhushi RajPurohit

 

MUMBAI – IDBI Bank's net profit for the quarter ended December rose 30.9% on year on the back of a strong growth in the net interest income and halving of provisions, the lender's results showed on Monday. The lender's net profit grew to INR 19.08 billion in Oct-Dec, with net interest income rising 23.1% year on year to INR 42.28 billion, which propelled total income 14.0% higher to INR 85.65 billion.

 

Shares of IDBI Bank ended 2.5% higher on Monday at INR 86.14 on the National Stock Exchange, boosted by the jump in profitability.

 

Also aiding the bottom line in Oct-Dec was lower provisioning, which fell 48.2% on year to INR 1.66 billion. However, provisions for bad loans saw a net reversal of INR 40.6 million, down from a reversal of INR 4.46 bln in the year-ago period.  More