IDBI Bank, one of India’s leading private sector lenders has reported a robust 31 per cent year-on-year increase in its standalone net profit, reaching ₹1,908.27 crore for the third quarter ended December 31, 2024. In the same quarter last year, the bank recorded a net profit of ₹1,458.18 crore.
The bank’s total income rose to ₹8,564.92 crore in Q3 FY25, up from ₹7,514.27 crore in the year-ago period, according to a regulatory filing. Interest income also witnessed a significant growth, reaching ₹7,815.57 crore compared to ₹6,540.86 crore in Q3 FY24.
IDBI Bank’s Net Interest Income (NII) saw a 23.1 per cent increase, climbing to ₹4,228.22 crore from ₹3,434.47 crore in the same quarter of the previous year. The Net Interest Margin (NIM) stood at an impressive 5.17 per cent during the quarter.
The bank also demonstrated improved asset quality. The gross Non-Performing Asset (NPA) ratio moderated to 3.57 per cent, down from 4.69 per cent at the end of December 2023, while the net NPA ratio declined to 0.18 per cent from 0.34 per cent. Provisions and contingencies fell significantly to ₹165.60 crore, compared to ₹319.85 crore in Q3 FY24.
The bank’s Current Account Savings Account (CASA) deposits grew 2 per cent year-on-year to ₹1,30,899 crore, with a CASA ratio of 46.35 per cent. Net advances surged 18 per cent to ₹2,06,807 crore, while total deposits increased 9 per cent to ₹2,82,439 crore as of December 31, 2024.
Operating profit for the quarter stood at ₹2,802 crore, marking a 20 per cent growth on a yearly basis. The Provision Coverage Ratio (PCR), including technical write-offs, improved to 99.47 per cent, up from 99.17 per cent a year ago.
With a strong financial performance in Q3 FY25, IDBI Bank continues to showcase consistent growth and resilience across key parameters.
