IDBI Bank Limited – Financial Results for the quarter ended June 30, 2023

IDBI Bank today, announced its quarterly results for Q1 FY24. The Net Profit stood at ₹1,224 crore for Q1 FY24, registering a strong growth of 62% YoY. The operating profit stood at ₹3,019 crore, with a YoY growth of 47%. NIM was recorded at 5.80%, with a YoY growth of 178 bps and the Net Interest Income stood at ₹3,998 crore with a YoY growth of 61%. The cost of Deposit stood at 4.12%. CRAR stood at 20.33% with YoY growth of 76 bps. Return on Assets (ROA) was recorded at 1.49% (YoY growth of 46 bps) and Return on Equity (ROE) stood at 18.63% (YoY growth of 383 bps). Net NPA stood at 0.44% as against 1.26% as on June 30, 2022, down by 82 bps. Gross NPA at 5.05% as against 19.90% as on June 30, 2022, down by 1485 bps. PCR stood at 98.99% as against 97.78% as on June 30, 2022, up by 121 bps.