Mumbai, January 20, 2025: The Board of Directors of IDBI Bank Ltd. met in Mumbai today and approved the financial results for the Quarter and Nine monthEnded December 31, 2024.
- Net profit at ₹1,908crore, YoY growth of 31%.
- Operating Profitat ₹2,802crore, YoY growth of 20%.
- NIM stood at 5.17%, YoY growth of 45 bps.
- Cost of Deposit stood at 4.63%
- Cost to Income ratio stood at 43.71%, down from 47.22% YoY.
- CRAR stood at 21.98% with YoY growth of 166bps.
- Return on Assets (ROA) stood at 1.99%, YoY growth of 29bps.
- Return on Equity (ROE) stood at 20.13%, YoY growth of 56bps.
- Net NPA down to0.18%,YoY reduction by16 bps.
- Gross NPA down to3.57%, YoY reduction by 112 bps.
- PCR stood at 99.47%, YoY improvement by 30 bps.
Operating Performance for Q3of FY 2025
- Net Profit improved by 31% in Q3 of FY 2025to ₹1,908crore as against net profit of ₹1,458 crore in Q3 of FY 2024.
- Operating profit improved by 20%inQ3 of FY 2025to ₹2,802as against₹2,327 crore inQ3 of FY 2024.
- Net Interest Incomeimproved by23% in Q3 of FY 2025to₹4,228crore as against₹3,435 crore inQ3 of FY 2024.
- Net Interest Margin (NIM)improved by 45 bps inQ3 of FY 2025to 5.17% as compared to 4.72% inQ3 of FY 2024.
- Cost to Income ratiodownby 351 bps inQ3 of FY 2025to 43.71% as against 47.22%in Q3 of FY 2024.
- Cost of Deposit stood at 4.63% inQ3 of FY 2025as compared to 4.34% inQ3 of FY 2024.
- Cost of Fundsstood at 4.82% inQ3 of FY 2025as compared to 4.60% inQ3 of FY 2024.
Business Growth
- Total Deposit increased to ₹2,82,439 crore as on December 31, 2024 as against ₹2,58,442 crore as on December 31, 2023 registering a growth of 9%
- CASA increased to₹1,30,899crorefrom₹1,28,962crore on YoY basis, reporting a growth of 2%. CASA ratio stood at 46.35%.
- Net advances grew by 18% YoY to ₹2,06,807crore as on December 31, 2024as against ₹1,75,001cras on December 31, 2023.
- The composition ofcorporate v/s retail in gross advances portfolio was at29:71as on December 31, 2024as against 29:71as onDecember 31, 2023.
Asset Quality
- Gross NPA ratio improved to 3.57% as on December 31, 2024as against4.69% as on December 31, 2023.
- Net NPA ratio improvedto0.18% as on December 31, 2024as against0.34% as onDecember 31, 2023.
- Provision Coverage Ratio (including Technical Write-Offs)improved to 99.47% as on December 31, 2024from 99.17% as onDecember 31, 2023.
Capital Position
- Tier 1 capital improved to19.91% as on December 31, 2024as against 18.04% as onDecember 31, 2023.
- CRARimproved to21.98% as on December 31, 2024as against20.32% as on December 31, 2023.
- Risk Weighted Assets (RWA) stood at ₹1,87,678crore as on December 31, 2024 as against ₹1,72,145 crore as onDecember 31, 2023.
Significant Developments
- IDBI Bank was adjudged Runner Up in Best Digital Performance & Innovations and Best ESG Initiatives in the Large & Mid-Sized Bank segment at the ASSOCHAM 19th Annual Summit & Awards- Banking & Financial Lending Companies.
- IDBI Bank inaugurated ten Business Correspondent managed Banking Outlets called IDBI SAMEEP offering basic banking products and thus enhancing the Bank’s footprint in a capital light model.
- IDBI Bank launched a feature of booking flights through IDBI Go Mobile+ Application with attractive offers and deals.