Business EconomyPosted at: Jul 22 2024 6:17PM


IDBI net up 40 pc in Q1

New Delhi, July 22 (UNI) IDBI bank on Monday reported a 40 percent jump in net profit at Rs 1,719 crore in the Q1 (April-June) of 2024-25 as against Rs 1,224 crore in Q1 of fiscal 2023-24.
Bank’s net Interest Income took a hit of 19 percent at Rs 3,233 crore in Q1 of 2024-25 as against Rs 3,998 crore in the same quarter of previous financial year, the Bank said in release after the Board meeting to consider financial performance of the bank in Q1.
Total Deposits during the period under consideration increased to Rs 2,77,548 crore as on June 30, 2024 as against Rs 2,44,936 crore as on June 30, 2023 registering a growth of 13 percent YoY.
In terms of asset quality, the Gross NPA ratio improved to 3.87 percent as on June 30, 2024 as against 5.05 percent as on June 30, 2023. Net NPA ratio also improved to 0.23 percent as on June 30, 2024 as against 0.44 percent as on June 30, 2023, the Bank added.
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