IDBI Bank Limited Financial Results for Q4 FY 2024, reports 55% rise in profits on YoY basis

The bank board has recorded a Net profit of Rs 5,634 crore, a YoY growth of 55%. The Operating Profit stood at Rs 9,592 crore, with YoY growth of 10%.

IDBI Bank Limited Financial Results for Q4 FY 2024, reports 55% rise in profits on YoY basis

The financial status of the  IDBI bank is categorized as follows-

NIM is at 4.93%, YoY growth 41 bps and the Cost of Deposit stood at 4.30%. CRAR at 22.26%, YoY growth of 182 bps. Return on Assets (ROA) at 1.65%, YoY growth of 45 bps.

Net NPA is at 0.34%, down from 0.92% as of March 31, 2023. While the Gross NPA is at 4.53%, down from 6.38% as of March 31, 2023. Return on Assets (ROA) improved by 39 bps to 1.82% for Q4-2024 as compared to 1.43% for Q4-2023.

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Business Growth reported that total deposits increased to Rs 2,77,657 crore as of March 31, 2024, compared to Rs 2,55,490 crore as of March 31, 2023. As of March 31, 2023, the total CASA and CASA ratio were at Rs 1,35,455 crore and 53.02%, respectively.

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Additionally, net advances grew by 16% YoY to Rs 1,88,621 crore as of March 31, 2024, compared to Rs 1,62,568 crore as of March 31, 2023. Furthermore, Tier 1 Capital improved to 20.11% as of March 31, 2024, compared to 18.08% as of March 31, 2023, while CRAR improved to 22.26% as of March 31, 2024, compared to 20.44% as of March 31, 2023.

IDBI Bank achieved a significant milestone of 2000 plus branches in Pan India.

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