IDBI Bank Q1 net profit rises four times to 603 Crore

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Biznetindia : IDBI bank has reported Rs.603 crore net  profit in the April-June quarter (Q1), which is 18 percent more than March quarter’s net profit of Rs. 512 crore. The bank has reported a growth of 318 percent against Q1FY21’s net profit of Rs. 144 crore.

Net Interest Income (NII) improved by 41% for Q1-2022 to Rs.2,506 crore as against Rs. 1,772 crore for Q1-2021. NII stood at Rs. 3,240 crore for Q4-2021.

Operating profit improved by 109% for Q1-2022 to Rs. 2776 crore as against Rs. 1,326 crore for Q1-2021. Operating Profit stood at Rs. 2,879 crore for Q4-2021.

The bank’s Current account savings account (CASA) deporits increased to Rs. 1,16,609 crore as on June 30, 2021 as against Rs. 1,04,315 crore as on June 30, 2020 and Rs. 1,16,491 crore as on March 31, 2021 (YoY growth of 12%).  Share of CASA in Total Deposits improved to 52.44% as on June 30, 2021 as against 47.55% as on June 30, 2020 and 50.45% as on March 31, 2021.

The bank’s gross NPA ratio improved to 22.71% as on June 30, 2021 as against 26.81% as on June 30, 2020. It’s gross NPA stood at 22.37% as on March 31, 2021. Net NPA ratio improved to 1.67% as on June 30, 2021 as against 3.55% as on June 30, 2020 and 1.97% as on March 31, 2021.

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