IDBI Bank on Monday posted a standalone profit of Rs 1719.27 crore during the first quarter of FY25, recording a growth of 40.4 per cent in comparison to Rs 1224.18 crore during the corresponding quarter of previous financial year. On a consolidated basis, Q1 profit was reported at Rs 1739.15 crore.
The Net Interest Income (NII) for the period came in at Rs 3233 crore as against Rs 3998 crore during the last year. The Net Interest Margin (NIM) stood at 4.18 per cent in Q1FY25. While the lender posted Return on Assets (ROA) improvement by 34 bps to 1.83 per cent in Q1FY2025 as compared to 1.49 per cent for Q1FY2024, cost of deposit stood at 4.58 per cent during the first quarter and cost of funds stood at 4.81 per cent.
IDBI Bank recorded total deposits at Rs 2,77,548 crore as on June 30, 2024, up 13 per cent on-year as against Rs 2,44,936 crore as on June 30, 2023.
IDBI Bank’s asset quality
The bank’s gross NPA was recorded at Rs 7795.42 crore and net NPA for the quarter was at Rs 453.57 crore. Gross NPA ratio, meanwhile, improved to 3.87 per cent as on June 30, 2024 as against 5.05 per cent as on June 30, 2023. Net NPA ratio stood at 0.23 per cent during Q1FY25 as against 0.44 per cent during the same period last year.
IDBI Bank’s provision coverage ratio was at 99.34 per cent as on June 30, 2024. It’s CASA ratio was at 48.57 per cent.