IDBI Bank advances after Q1 PAT rises 25% YoY

21 Jul 2022 , 03:16 PM

Net Interest Income declined marginally to Rs 2,488 crore in Q1 FY23 from Rs 2,506 crore in Q1 FY22. Net Interest Margin (NIM) stood at 4.02% in Q1 FY23 as compared to 4.06% for Q1 FY22. Cost of Funds reduced by 35 bps to 3.63% for Q1 FY23 as compared to 3.98% for Q1 FY22. Operating profit fell by 28.5% to Rs 2,052 crore in Q1 FY23 from Rs 2,868 crore in Q1 FY22. Provisions & Contingencies declined by 48% YoY to Rs 959 crore in the first quarter. Profit before tax in Q1 FY23 stood at Rs 1093 crore, up by 7% from Rs 1024 crore recorded in Q1 FY22. Gross NPAs aggregated to Rs 33,908 crore as on 30 June 2022 as against Rs 35,594 crore as on 30 June 2021 and Rs 34,115 crore as on 31 March 2022. Gross NPA ratio improved to 19.90% as on 30 June 2022 as against 22.71% as on 30 June 2021 and 20.16% as on 31 March 2022. Net NPA ratio improved to 1.25% as on 30 June 2022 as against 1.67% as on 30 June 2021 and 1.36% as on 31 March 2022. Provision Coverage Ratio improved to 97.79% as on 30 June 2022 from 97.42 % as on 30 June 2021. Deposits increased by 1% YoY to Rs 2,25,269 crore while gross advances rose by 9% YoY to Rs 1,70,390 crore as on 30 June 2022. Tier-1 improved to 17.13% as on 30 June 2022 as against 13.64% as on 30 June 2021. CRAR improved to 19.57% as on 30 June 2022 as against 16.23% as on 30 June 2021. IDBI Bank is one of Indias one of the state own largest bank having more than 1,890 branches with 3,300 ATMS across the globe. The Government of India held 45.48% stake while the Life Insurance Corporation of India held 49.24% stake in the bank as on 30 June 2022. Powered by Capital Market – Live News