IDBI Bank reports robust growth in Q1 FY25

5 Jul 2024 , 04:39 PM

IDBI Bank’s total business increased by 15% to ₹4,71,563 Crore in Q1 FY25 compared to ₹4,10,339 Crore in Q1 FY24. Quarter-on-quarter (QoQ) growth in total business was 1.13%, reaching ₹4,71,563 Crore in Q1 FY25 from ₹4,66,278 Crore on 31 March 2024.

Shares of IDBI Bank has witnessed a 46% growth in the last one year, and 25% since the beginning of the year.

Total deposits for the bank were ₹2,77,549 Crore in Q1 FY25, a 13% year-on-year (YoY) increase. On a QoQ basis, deposits saw a slight decline.

Net advances during the quarter were ₹1,94,014 Crore, showing a 17% YoY increase and a 2.85% QoQ rise.  CASA deposits were ₹1,34,812 Crore, up 5% YoY but down 3.72% QoQ.

IDBI Bank operates in various segments including corporate/wholesale banking, which encompasses corporate relationships involving deposits, credits, corporate advisory, syndication, and project appraisal.

The bank’s standalone net profit rose by 44% to ₹1,628 Crore in Q4 FY24 from ₹1,133 Crore in Q4 FY23. Total income for the quarter ended 31 March 2024 increased by 12.45% YoY to ₹7,886 Crore.