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IDBI Bank Profit Up 5% Despite Operating Dip
18 Jul
Summary
- Net profit increased by 5% to Rs 2,115 crore in Q1FY27.
- Operating profit saw a decline from Rs 2,354 crore to Rs 2,168 crore.
- Gross NPAs improved, falling to 2.3% from 2.93% year-on-year.
IDBI Bank announced a 5% increase in net profit for the first quarter of the financial year 2026-27, reporting Rs 2,115 crore. This marks an improvement from the Rs 2,007 crore net profit recorded during the same period last year. Total income saw a slight rise to Rs 8,573 crore.
However, the bank's operating profit experienced a reduction, falling to Rs 2,168 crore from Rs 2,354 crore in the comparative quarter. Net Interest Income (NII) grew by 10% to Rs 3,486 crore. The Net Interest Margin saw a marginal decrease to 3.61%.
Significant improvement was observed in the bank's asset quality. Gross non-performing assets (NPAs) decreased to 2.3% of gross advances, down from 2.93% a year prior. Net NPAs also declined to 0.16%. Net advances grew by 22% to Rs 2,58,968 crore, while total deposits increased by 10% to Rs 3,25,757 crore.
