IDBI Bank Profit Falls 39% as Prior-Year Gain Weighs
The bank reported Rs 2,205 crore in second-quarter profit, while net interest income declined and deposit and loan balances grew.
Key takeaways
- IDBI Bank’s second-quarter net profit fell 39% year on year to Rs 2,205 crore.
- Net interest income dropped 49% year on year to Rs 1,353 crore.
- Deposits rose 17% and net advances increased 18% year on year.
IDBI Bank reported net profit of Rs 2,205 crore for the second quarter of FY27, down 39% from a year earlier. The year-ago quarter included a Rs 1,699 crore gain from the sale of a strategic investment in NSDL.
Excluding that one-off gain, the bank said net profit rose 14% year on year and operating profit increased 59%. Net interest income fell 49% to Rs 1,353 crore, but was up 31% from the previous quarter.
Net interest margin improved 50 basis points sequentially to 4.11%. The bank’s gross non-performing asset ratio was 2.12% as of September 30, compared with 2.65% a year earlier; its net NPA ratio fell to 0.17% from 0.21%.
Total deposits grew 17% year on year to Rs 3.55 lakh crore as of September 30. CASA deposits rose 12% to Rs 1.55 lakh crore, while the CASA ratio stood at 43.82%.
Net advances increased 18% to Rs 2.71 lakh crore. The bank said corporate and retail loans made up 31% and 69% of its gross advances portfolio, respectively.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
