IDBI Bank reported a 38.78% increase in standalone net profit for Q2 FY25, reaching Rs 1,836.45 crore, up from Rs 1,323.27 crore in the same period last year, according to an exchange filing on October 25. The bank’s net profit for the June quarter stood at Rs 1,719.27 crore, indicating sequential growth as well.
Total income for the quarter surged 26.43% year-on-year to Rs 8,754.54 crore, compared to Rs 6,924.18 crore in the year-ago period. The net interest income (NII) rose 26% YoY to Rs 3,875 crore, while the net interest margin (NIM) improved by 54 basis points to 4.87%.
Key highlights for Q2 FY25 include:
- Gross Non-Performing Assets (NPA): Declined to 3.68%, a reduction of 122 basis points YoY.
- Net NPA: Reduced to 0.2%, down by 19 basis points YoY.
- Capital Adequacy Ratio (CRAR): Improved to 21.98%, up by 72 basis points YoY.
- CASA (Current Account and Savings Account): Increased to Rs 1,33,639 crore, marking 4% YoY growth.
Following the results, shares of IDBI Bank were trading 1.03% higher at Rs 82.15 on the NSE as of 3:06 pm.
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Source: Moneycontrol
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