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IDBI Bank's Q2 Net Profit Climbs 75% To Rs. 567 Crore

News In Brief Business and Economy

IDBI Bank's Q2 Net Profit Climbs 75% To Rs. 567 Crore

idbi-bank-s-q2-net-profit-climbs-75-percent-to-rs-five-hundred-seven-crore

News Synopsis

The bank recorded a standalone profit after tax of Rs 324 crore in the previous quarter. The bank's overall performance metrics have improved. Deposit rates have fallen from 4.41 percent the previous year to 3.60 percent as of September 30, 2021. The bank has been able to keep operational costs under control while maintaining a practically constant advance yield.

Srei Group, the bank has a Non-Performing Asset (NPA) worth less than Rs 400 crore. DHFL's settlement, according to Sharma, netted the lender Rs 200 crore. The Capital to Risk (Weighted Assets Ratio) had climbed to 16.59 percent as of September 30, 2021, up from 13.67 percent during the previous year. The institution intends to keep its credit cost and net slippages ratios below 1.75 percent and 3 percent, respectively, this fiscal year.

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