IDBI Bank's YoY Q2FY22 net profit up 75%


New Delhi, Oct 21 (IANS): IDBI Bank on Thursday reported a rise of 75 per cent in its net profit for Q2FY22 on a year-on-year basis.

The bank's net profit rose to Rs 567 crore as against Rs 324 crore reported for Q2FY21.

"Operating profit improved by 15 per cent for Q2-2022 to Rs 1,209 crore as against Rs 1,054 crore for Q2-2021," the bank said in a statement.

Net Interest Income improved by 9 per cent for Q2FY22 to Rs 1,854 crore as against Rs 1,694 crore for Q2-2021.

"Net Interest Margin improved by 32 bps to 3.02 per cent for Q2-2022 as compared to 2.70 per cent for Q2-2021."

According to the lender, the gross NPA ratio improved to 20.92 per cent as on September 30, 2021 as against 25.08 per cent as on September 30, 2020.

The Gross NPA stood at 21.48 per cent as on June 30, 2021.

"Net NPA ratio improved to 1.62 per cent as on September 30, 2021 as against 2.67 per cent as on September 30, 2020 and 1.56 per cent as on June 30, 2021."

"Recovery from write off accounts improved to Rs 137 crore in Q2-2022 as against Rs 57 crore in Q2-2021. Recovery from write off account was Rs 331 crore in Q1-2022."

In addition, the bank pointed out that as on September 30, 2021, it had Covid-19 related provisions of Rs 863 crore (other than provisions held for restructuring under Covid-19 norms).

"The provision made by the bank is more than minimum required as per the RBI guidelines," it said.

 

  

Top Stories


Leave a Comment

Title: IDBI Bank's YoY Q2FY22 net profit up 75%



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.