IDBI Bank reports 40% rise in profits on YoY basis

Highlights for Q1 FY 2025

 ❖ Net profit at ₹1,719 crore, YoY growth of 40%.
❖ Operating Profit stood at ₹2,076 crore.
❖ NIM stood at 4.18%.
❖ Cost of Deposit stood at 4.58%.
❖ CRAR stood at 22.42% with YoY growth of 209 bps.
❖ Return on Assets (ROA) at 1.83%, YoY growth of 34 bps.
❖ Return on Equity (ROE) at 19.87%, YoY growth of 123 bps.
❖ Cost to Income Ratio stood at 48.60%.
❖ Net NPA at 0.23% as against 0.44% as on June 30, 2023, down by 21 bps.
❖ Gross NPA at 3.87% as against 5.05% as on June 30, 2023, down by 118 bps.
❖ PCR stood at 99.34% as against 98.99% as on June 30, 2023, up by 35 bps.
❖ Net Profit surges to ₹1,719 crore, registering a growth of 40% YoY and 6% QoQ
❖ Gross NPA down to 3.87%, YoY reduction by 118 bps
❖ Net NPA down to 0.23%, YoY reduction by 21 bps
❖ Provision Coverage Ratio (PCR) at 99.34%
❖ CRAR at 22.42%
❖ CASA ratio at 48.57%

Operating Performance for Q1 of FY 2025
▪ Net Profit improved by 40% in Q1-2025 to ₹1,719 crore as against net profit of ₹1,224 crore in Q1-2024.
▪ Operating profit stood at ₹2,076 crore in Q1-2025 as against ₹3,019 crore in Q1-2024.
▪ Net Interest Income stood at ₹3,233 crore in Q1-2025 as against ₹3,998 crore in Q1-2024.
▪ Net Interest Margin (NIM) stood at 4.18% in Q1-2025 as compared to 5.80% in Q1-2024.
▪ Return on Assets (ROA) improved by 34 bps to 1.83% in Q1-2025 as compared to 1.49% for Q1-2024
▪ Cost of Deposit stood at 4.58% in Q1-2025 as compared to 4.12% in Q1-2024.
▪ Cost of Funds stood at 4.81% in Q1-2025 as compared to 4.40% in Q1-2024.
Note: Q1 of FY 2024 had one major interest recovery in a NPA/TWO account to the tune of ~Rs.1000 cr.

Business Growth
▪ Total Deposits increased to ₹2,77,548 crore as on June 30, 2024 as against ₹2,44,936 crore as on June 30, 2023 registering a growth of 13% YoY.
▪ CASA increased to ₹1,34,810 crore and CASA ratio stood at 48.57% as on June 30, 2024. As on June 30, 2023 total CASA and CASA ratio were at ₹1,28,870 crore and 52.61%.
▪ Net advances grew by 17% YoY to ₹1,94,026 crore as on June 30, 2024 as against ₹1,65,403 crore as on June 30, 2023.
▪ The composition of corporate v/s retail in gross advances portfolio stood at 29:71 as on June 30, 2024.

 Asset Quality
▪ Gross NPA ratio improved to 3.87% as on June 30, 2024 as against 5.05% as on June 30, 2023.
▪ Net NPA ratio improved to 0.23% as on June 30, 2024 as against 0.44% as on June 30, 2023.
▪ Provision Coverage Ratio (including Technical Write-Offs) improved to 99.34% as on June 30, 2024 from 98.99% as on June 30, 2023.

Capital Position
▪ Tier 1 capital improved to 20.26% as on June 30, 2024 as against 17.93% as on June 30, 2023.
▪ CRAR improved to 22.42% as on June 30, 2024 as against 20.33% as on June 30, 2023.
▪ Risk Weighted Assets (RWA) stood at ₹1,77,755 crore as on June 30, 2024 as against ₹1,66,660 crore as on June 30, 2023.

 Significant Developments
▪ Inauguration of IDBI Learning Center by Shri. Rakesh Sharma MD & CEO, on April 06, 2024 at Pune Maharashtra
▪ IDBI Bank was awarded with ‘Best Data Quality Award’ 2023-2024 by Transunion CIBIL for Private Banks under Commercial Segment

 Mumbai, July 23, 2024: The Board of Directors of IDBI Bank Ltd. met in Mumbai today and approved the financial results for the Quarter ended June 30, 2024.