'IDBI Bank has reported 40% growth in net profit at Rs 1719.27 crore for the quarter ended
June 2024 (Q1FY2025), driven by hefty reversal of provisions. The bank has
posted 19% decline in net interest income (NII), while the core fee income of
the bank improved 4% in Q1FY2025. The Net Interest Margin (NIM) of the bank
dipped to 4.18% in Q1FY2025 compared to 5.80% in the corresponding quarter of
previous year.
On business front, the
bank as has posted 14% growth in business with strong 16% surge in loan book.
The asset quality of the bank was stable in Q1FY2025. Bank has raised the
credit to deposit ratio to 72.6% at end June 2024 from 70.8% at end June 2023.
However, the CASA ratio of the bank has declined to 48.6% at end June 2024 from
52.6% at end June 2023.
Asset quality improves: The bank has exhibited
sharp improvement in the asset quality with the dip in fresh slippages of loans
in Q1FY2025.
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(18-Nov-2024)
Bharat Forge
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