IDBI Bank Limited - Financial Results for the Quarter and Nine Month Ended December 31, 2024
* Net profit at Rs 1,908 crore, YoY growth of 31%.
* Operating Profit at Rs 2,802 crore, 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 166 bps.
* Return on Assets (ROA) stood at 1.99%, YoY growth of 29 bps.
* Return on Equity (ROE) stood at 20.13%, YoY growth of 56 bps.
* Net NPA down to 0.18%, YoY reduction by 16 bps.
* Gross NPA down to 3.57%, YoY reduction by 112 bps.
* PCR stood at 99.47%, YoY improvement by 30 bps.
Operating Performance for Q3 of FY 2025
* Net Profit improved by 31% in Q3 of FY 2025 to Rs 1,908 crore as against net profit of Rs 1,458 crore in Q3 of FY 2024.
* Operating profit improved by 20% in Q3 of FY 2025 to Rs 2,802 as against Rs 2,327 crore in Q3 of FY 2024.
* Net Interest Income improved by 23% in Q3 of FY 2025 to Rs 4,228 crore as against Rs 3,435 crore in Q3 of FY 2024.
* Net Interest Margin (NIM) improved by 45 bps in Q3 of FY 2025 to 5.17% as compared to 4.72% in Q3 of FY 2024.
* Cost to Income ratio down by 351 bps in Q3 of FY 2025 to 43.71% as against 47.22% in Q3 of FY 2024.
* Cost of Deposit stood at 4.63% in Q3 of FY 2025 as compared to 4.34% in Q3 of FY 2024.
* Cost of Funds stood at 4.82% in Q3 of FY 2025 as compared to 4.60% in Q3 of FY 2024.
Business Growth
* Total Deposit increased to Rs 2,82,439 crore as on December 31, 2024 as against Rs 2,58,442 crore as on December 31, 2023 registering a growth of 9%
* CASA increased to Rs 1,30,899 crore from Rs 1,28,962 crore on YoY basis, reporting a growth of 2%. CASA ratio stood at 46.35%.
* Net advances grew by 18% YoY to Rs 2,06,807 crore as on December 31, 2024 as against Rs 1,75,001 cr as on December 31, 2023.
* The composition of corporate v/s retail in gross advances portfolio was at 29:71 as on December 31, 2024 as against 29:71 as on December 31, 2023.
Asset Quality
* Gross NPA ratio improved to 3.57% as on December 31, 2024 as against 4.69% as on December 31, 2023.
* Net NPA ratio improved to 0.18% as on December 31, 2024 as against 0.34% as on December 31, 2023.
* Provision Coverage Ratio (including Technical Write-Offs) improved to 99.47% as on December 31, 2024 from 99.17% as on December 31, 2023.
Capital Position
* Tier 1 capital improved to 19.91% as on December 31, 2024 as against 18.04% as on December 31, 2023.
* CRAR improved to 21.98% as on December 31, 2024 as against 20.32% as on December 31, 2023.
* Risk Weighted Assets (RWA) stood at Rs 1,87,678 crore as on December 31, 2024 as against Rs 1,72,145 crore as on December 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.
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 month Ended December 31, 2024.
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