IDBI Bank reports 125% increase in Net Profit at ₹ 324 crore for Q2 FY 2021

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IDBI Bank reports 125% increase in Net Profit at ₹ 324 crore for Q2 FY 2021 Highlights of Q2 FY 2021 (Quarter ending September 30, 2020) Financial Results

Major Highlights

  • Bank reports Net profit of ₹ 324 crore for Q2 FY 2021 against net loss ₹3,459 crore for Q2-FY 2020
  • Bank registers Profit Before Tax (PBT) of ₹ 665 crore for Q2 FY 2021 against Loss Before Tax of ₹ 4,632 crore for Q2 FY 2020.
  • Operating Profit for Q2 FY 2021 is ₹ 1,246 crore , YoY growth of 23%.
  • NII at ₹ 1,695 crore for Q2 FY 2021, YoY growth of 4%.
  • NIM at 2.70% for Q2 FY 2021, YoY growth of 37 bps.
  • CASA ratio at 48.33%, YoY growth of 346 bps.
  • Net NPA at 2.67%. CRAR at 13.67%.
  • PCR stood at 95.96%.

Operating Performance

  • Net Profit reported for Q2-2021 is ₹ 324 crore as against loss of ₹ 3,459 crore for Q2-2020. Net Profit for Q2-2021 has improved by 125% against ₹ 144 crore reported for Q1-2021.
  • PBT improved for Q2-2021 to ₹ 665 crore as against loss of ₹ 4,632 crore for Q2-2020. PBT for Q2-2021 has improved by 52% against ₹ 438 crore reported for Q1-2021.
  • Operating profit for Q2-2021 improved by 23% to ₹ 1,246 crore as against ₹ 1,009 crore for Q2-2020.
  • Net Interest Income (NII) for Q2-2021 improved by 4% to ₹ 1,695 crore as against ₹1,631 crore for Q2-2020.
  • Net Interest Margin (NIM) improved by 37 bps to 2.70% for Q2-2021 as compared to 2.33% for Q2-2020.
  • Cost of Deposit improved by 76 bps to 4.41% for Q2-2021 as compared to 5.17% for Q2-2020.
  • Cost of Funds improved by 80 bps to 4.73% for Q2-2021 as compared to 5.53% for Q2-2020.
  • Non-InterestIncome to Total Income improved to 18.61% for Q2-2021as compared to 16.57% for Q2-2020.
  • Cost to Net Income Ratio has improved to 54.96% in Q2-2021from 62.11% in Q2-2020.

Business Growth

  • CASA increased to ₹ 1,08,217 crore as on September 30, 2020 as against
    ₹ 1,04,027 crore as on September 30, 2019.
  • Share of CASA in Total Deposits improved to 48.33% as on September 30, 2020 as against 44.87% as on September 30, 2019.
  • The composition of Advances portfolio Corporate V/s Retail was realigned to 42:58 as on September 30, 2020 as against 47:53 as on September 30, 2019

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