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The first quarter results for IDBI Bank

Jul 24, 2023

By: BlinkX Research Team

On July 24, IDBI Bank announced a 62 per cent increase in net profit at Rs 1,224 crore for the April-June FY24 quarter. In the same quarter last year, the private-sector lender earned a net profit of Rs. 756 crore.

From 20% the previous year, the bank's gross non-performing asset (GNPA) decreased to 5%. Additionally, the bank's net non-performing assets (NNPA) decreased from 1.26 percent to 0.44 percent.

Revenue by segment

Revenue for the lender's corporate and wholesale segment increased to Rs 2696 crore from Rs 1264 crore in the same period previous year.

The bank's primary source of income, retail banking, increased to Rs 7106 crore from Rs 5656 crore the previous year.

The bank's Treasury division recorded income of Rs 3280 crore, up from Rs 2428 crore the previous year.