IDBI Bank Q2FY23 PAT up 31.82% at Rs775.82 crore as interest spreads sharply improved in the quarter


IDBI Bank

IDBI Bank reported a growth of 16.65% in total revenue for the September 2022 quarter on a consolidated basis at Rs 6,052.

Revenue growth was 3.83 percent sequentially. The company saw steady revenue from corporate/wholesale banking during the quarter.

However, revenue from retail banking rose sharply while Treasury yields fell sharply due to higher interest rate scenarios.

However, higher rates also boosted loan realization without affecting the cost of funds, improving profit margins in the process.

Consolidated profit after tax (PAT) for the September 2022 quarter rose 31.8% to SEK 775.82 and was 0.94% higher on a sequential basis.

The improved interest spread made the difference in the quarter. Additionally, NIMs were strong at 4.37%, up from 3.02% last year.

Total NPAs are down more than 500 basis points at 16.51%, but still high in absolute terms. However, a net NPA of 1.15% indicates that loan losses are largely saved.

Net profit margins at 12.82% in Q2FY23 are higher compared to 11.34% in Q2FY22 but net margins were lower compared to 13.19% in Q1FY23.

The financial indicators were compared for the month of September -22 on an annual basis and in a row











IDBI Bank

rupees in crores

September 22

September 21

YOY

June 22

QQ
Gross Income (Rs. cr) $6052.23 5188.48 INR 16.65% 5,828.81 INR 3.83%
Net Profit (Rs. cr) 775.82 INR INR 588.54 31.82% 768.59 INR 0.94%
Diluted EPS (Rs.) INR 0.72 0.55 rupees INR 0.71
net margins 12.82% 11.34% 13.19%