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IDBI Bank Q4 Results: Net profit rises 44% to ₹1,628 crore, NII up 12%
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
IDBI Bank’s total deposits increased to ₹2,77,657 crore as on March 31, 2024, compared to ₹2,55,490 crore as of the same period last year. CASA increased to ₹1,40,027 crore and CASA ratio stood at 50.43%.
Private sector lender IDBI Bank’s March quarter standalone net profit stood at ₹1,628.5 crore, up nearly 44% than ₹1,133.4 crore reported in the corresponding quarter of the previous financial year.
Besides, its net interest income (NII) increased by 12.4% to ₹3,687.9 crore in the fourth quarter, as against ₹3,279.6 crore in the same quarter last year.
IDBI Bank’s gross non-performing assets (GNPA) stood at 4.53% as against 4.69% on a quarter-on-quarter basis while net NPA ratio remained unchanged at 0.34%.
The lender’s Provision Coverage Ratio (including Technical Write-Offs) improved to 99.09% in the quarter, compared to 97.94% in the same quarter last year.
IDBI Bank’s total deposits increased to ₹2,77,657 crore as on March 31, 2024, compared to ₹2,55,490 crore as of the same period last year. CASA increased to ₹1,40,027 crore and CASA ratio stood at 50.43%.
The bank’s net advances grew by 16% YoY to ₹1,88,621 crore as on March 31, 2024, as against ₹1,62,568 as on March 31, 2023. The composition of corporate versus retail in gross advances portfolio stood at 30:70 as of March-end.
The board has recommended a dividend of ₹1.50 per equity share of face value of ₹10 each for the financial year 2024.
The dividend on equity shares will be paid on or after the same is approved by the shareholders at the ensuing annual general meeting of the bank.
Shares of IDBI Bank Ltd. settled 1.65% higher at ₹89.60 apiece on the NSE. The stock has risen over 30% in 2024 so far.
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