Private sector lender IDBI Bank’s March quarter standalone net profit stood at ₹1,628.5 crore, up nearly 44% than ₹1,133.4 crore reported in the corresponding quarter of the previous financial year.
Besides, its net interest income (NII) increased by 12.4% to ₹3,687.9 crore in the fourth quarter, as against ₹3,279.6 crore in the same quarter last year.
IDBI Bank‘s gross non-performing assets (GNPA) stood at 4.53% as against 4.69% on a quarter-on-quarter basis while net NPA ratio remained unchanged at 0.34%.
The lender’s Provision Coverage Ratio (including Technical Write-Offs) improved to 99.09% in the quarter, compared to 97.94% in the same quarter last year.
Read More: Groww Pay gets RBI licence to operate as online payments operator
IDBI Bank’s total deposits increased to ₹2,77,657 crore as on March 31, 2024, compared to ₹2,55,490 crore as of the same period last year. CASA increased to ₹1,40,027 crore and CASA ratio stood at 50.43%.
The board has recommended a dividend of ₹1.50 per equity share of face value of ₹10 each for the financial year 2024.
Read More: Govt Lifts Ban On Onion Exports, Sets Minimum Export Price Amid Lok Sabha Elections
The dividend on equity shares will be paid on or after the same is approved by the shareholders at the ensuing annual general meeting of the bank.
