NEW DELHI:
IDBI Bank
on Saturday posted a 44% increase in
net profit
at
Rs 1,628 crore
in
Q4
of the financial year 2023-24 against Rs 1,133 crore in the same period a year ago.
The private lender’s total income increased to Rs 7,887 crore from from Rs 7,014 crore in this period of the fiscal year 2022-23.
Its net profit rose 55% to an all-time high of Rs 5,634 crore in the 2023-24 fiscal.
In 2022-23, its profit was at Rs 3,645 crore. Total income for fiscal year 2023-24 was at Rs 30,037 crore, up from Rs 24,942 crore in financial year 2022-23.
Net Interest Income of the bank increased by 12% in the March quarter to Rs 3,688 crore, as against Rs 3,280 crore in the fourth quarter of 2022-23.
Net non-performing assets (NPA) ratio was at 0.34 per cent as on March 31, 2024, against 0.92 which was a year ago.
The board of IDBI Bank following the announcement of the quarterly proposed a dividend of 15% subject to shareholders’ approval.
