IDBI Bank Reports Financial Results for Q2 and Half-Year Ended September 30, 2024

Operating Performance for Q2 of FY 2025

• Net Profit improved by 39% in Q2-2025 to ₹1,836 crore as against net profit of ₹1,323 crore in Q2-2024.
•  Operating profit improved by 45% in Q2-2025 to ₹3,006 as against ₹2,072 crore in Q2-2024.
•  Net Interest Income improved by 26% in Q2-2025 to ₹3,875 crore as against ₹3,066 crore in Q2-2024.
•  Net Interest Margin (NIM) improved by 54 bps in Q2-2025 to 4.87% as compared to 4.33% in Q2-2024.
•  Cost to Income ratio down by 558 bps in Q2-2025 to 42.05% as against 47.63% in Q2-2024.
•  Cost of Deposit stood at 4.66% in Q2-2025 as compared to 4.22% in Q2-2024.
•  Cost of Funds stood at 4.87% in Q2-2025 as compared to 4.49% in Q2-2024.

Business Growth

• Total Deposit increased to ₹2,77,602 crore as on September 30, 2024 as against ₹2,49,434 crore as on September 30, 2023 registering a growth of 11%
•  CASA increased to ₹1,33,639 crore from ₹1,28,464 crore on YoY basis, reporting a growth of 4.03%. CASA ratio stood at 48.14%.
•  Net advances grew by 19% YoY to ₹2,00,944 crore as on September 30, 2024 as against ₹1,68,502 cr as on September 30, 2023.
•  The composition of corporate v/s retail in gross advances portfolio was at 29:71 as on September 30, 2024 as against 30:70 as on September 30, 2023.

Asset Quality

•  Gross NPA ratio improved to 3.68% as on September 30, 2024 as against 4.90% as on September 30, 2023.
• Net NPA ratio improved to 0.20% as on September 30, 2024 as against 0.39% as on September 30, 2023.
•  Provision Coverage Ratio (including Technical Write-Offs) improved to 99.42% as on September 30, 2024 from 99.10% as on September 30, 2023.

Capital Position

•  Tier 1 capital improved to 19.89% as on September 30, 2024 as against 18.86% as on September 30, 2023.
•  CRAR improved to 21.98% as on September 30, 2024 as against 21.26% as on September 30, 2023.
•  Risk Weighted Assets (RWA) stood at ₹1,84,335 crore as on September 30, 2024 as against ₹1,61,618 crore as on September 30, 2023.

Significant Developments

• Bank’s Long Term Credit Rating has been upgraded to ‘AA/Stable’ from ‘AA-/Stable’ and Short Term Credit Rating re-affirmed at ‘A1+’ by all the four rating Agencies viz., ICRA, CRISIL, CARE and India Rating.
  Mumbai, October 25, 2024: The Board of Directors of IDBI Bank Ltd. met in Mumbai today and approved the financial results for the Quarter and Half Year Ended September 30, 2024.