IDBI Bank Limited – Financial Results for the Quarter and Nine Month Ended December 31, 2024

Mumbai, January 21, 2025: The Board of Directors of IDBI Bank Ltd. met in Mumbai today and approved the financial results for the Quarter and Nine month Ended December 31, 2024.

Operating Performance for Q3 of FY 2025

• Net Profit improved by 31% in Q3 of FY 2025 to ₹1,908 crore as against net profit of ₹1,458 crore in Q3 of FY 2024.
• Operating profit improved by 20% in Q3 of FY 2025 to ₹2,802 as against ₹2,327 crore in Q3 of FY 2024.
• Net Interest Income improved by 23% in Q3 of FY 2025 to ₹4,228 crore as against ₹3,435 crore in Q3 of FY 2024.
• Net Interest Margin (NIM) improved by 45 bps in Q3 of FY 2025 to 5.17% as compared to 4.72% in Q3 of FY 2024.
• Cost to Income ratio down by 351 bps in Q3 of FY 2025 to 43.71% as against 47.22% in Q3 of FY 2024.
• Cost of Deposit stood at 4.63% in Q3 of FY 2025 as compared to 4.34% in Q3 of FY 2024.
• Cost of Funds stood at 4.82% in Q3 of FY 2025 as compared to 4.60% in Q3 of FY 2024.

Business Growth

• Total Deposit increased to ₹2,82,439 crore as on December 31, 2024 as against ₹2,58,442 crore as on December 31, 2023 registering a growth of 9%
• CASA increased to ₹1,30,899 crore from ₹1,28,962 crore on YoY basis, reporting a growth of 2%. CASA ratio stood at 46.35%.
• Net advances grew by 18% YoY to ₹2,06,807 crore as on December 31, 2024 as against ₹1,75,001 cr as on December 31, 2023.
• The composition of corporate v/s retail in gross advances portfolio was at 29:71 as on December 31, 2024 as against 29:71 as on December 31, 2023.

Asset Quality

• Gross NPA ratio improved to 3.57% as on December 31, 2024 as against 4.69% as on December 31, 2023.
• Net NPA ratio improved to 0.18% as on December 31, 2024 as against 0.34% as on December 31, 2023.
• Provision Coverage Ratio (including Technical Write-Offs) improved to 99.47% as on December 31, 2024 from 99.17% as on December 31, 2023.

Capital Position

• Tier 1 capital improved to 19.91% as on December 31, 2024 as against 18.04% as on December 31, 2023.
• CRAR improved to 21.98% as on December 31, 2024 as against 20.32% as on December 31, 2023.
• Risk Weighted Assets (RWA) stood at ₹1,87,678 crore as on December 31, 2024 as against ₹1,72,145 crore as on December 31, 2023.
  Significant Developments
• IDBI Bank was adjudged Runner Up in Best Digital Performance & Innovations and Best ESG Initiatives in the Large & Mid-Sized Bank segment at the ASSOCHAM 19th Annual Summit & Awards- Banking & Financial Lending Companies.
• IDBI Bank inaugurated ten Business Correspondent managed Banking Outlets called IDBI SAMEEP offering basic banking products and thus enhancing the Bank’s footprint in a capital light model.
• IDBI Bank launched a feature of booking flights through IDBI Go Mobile+ Application with attractive offers and deals.