IDBI Bank Limited – Financial Results for Q1 of FY 2025
The Board of Directors of IDBI Bank Ltd. met in Mumbai today and approved the financial results for the Quarter ended June 30, 2024.
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. 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 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.
