IDBI Bank Ltd Share Price – NSE /  BSE

Banks, Mid Cap

ICRA Ratings vide its report dated 02 August 2024 has upgraded IDBI Bank's (IDBI) Long Term Ratings to [ICRA]AA (Stable) from [ICRA]AA- (Stable) while reaffirming its Short-Term Issuer Rating at `[ICRA]A1+'.

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Total income grew by 3.12% year on year to Rs 7,471.25 crore in the quarter ended 30 June 2024.

Operating profit stood at Rs 2,075.53 crore in Q1 FY25, down 31.24% from Rs 3018.72 crore recorded in Q1 FY24.

Net interest income (NII) declined 19.13% to Rs 3,233 crore in Q1 FY25 as against Rs 3,998 crore in Q1 FY24. Net interest margin (NIM) reduced by 162 bps to 4.18% in Q1 FY25 as against 5.80% in Q1 FY24.

Total deposits increased to Rs 2,77,548 crore as on 30 June 2024 as compared with Rs 2,44,936 crore in 30 June 2024, registering a growth of 13% YoY. Net advances grew by 17% YoY to Rs 1,94,026 crore as on 30 June 2024.

CASA was at Rs 1,34,810 crore as on 30 June 2024 ( up 4.60% YoY). CASA ratio declined to 48.57% as on 30 June 2024 as against 52.61% as on 30 June 2023.

The composition of corporate versus retail in gross advances portfolio stood at 29:71 as on 30 June 2024.

Gross NPA stood at Rs 7,795.42 crore as on 30 June 2024 as compared with Rs 8,762.51 crore as on 30 June 2023.

Gross NPA ratio improved to 3.87% as on 30 June 2024 as against 5.05% as on 30 June 2023. Net NPA ratio to net advances improved to 0.23% as on 30 June 2024 as against 0.44% as on 30 June 2023.

Provision coverage ratio (including technical write-offs) increased to 99.34% as on 30 June 2024 from 98.99% as on 30 June 2023.

Tier 1 capital improved to 20.26% as on 30 June 2024 as against 17.93% as on 30 June 2023. Capital adequacy ratio (CRAR) increased to 22.42% as on 30 June 2024 as against 20.33% as on 30 June 2023.

Risk weighted assets (RWA) stood at Rs 1,77,755 crore as on 30 June 2024 as against Rs 1,66,660 crore as on 30 June 2023.

During the quarter, return on assets and return on equity stood at 1.83% and 19.87% respectively.

IDBI Bank is a banking company. Its segments include corporate / wholesale banking segment, which includes corporate relationship covering deposit and credit activities other than retail and also covers corporate advisory / syndication, project appraisal.

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Net profit of IDBI Bank rose 41.09% to Rs 1734.32 crore in the quarter ended June 2024 as against Rs 1229.26 crore during the previous quarter ended June 2023. Total Operating Income declined 2.82% to Rs 6669.84 crore in the quarter ended June 2024 as against Rs 6863.63 crore during the previous quarter ended June 2023.

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IDBI Bank will hold a meeting of the Board of Directors of the Company on 22 July 2024.

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