IDBI Bank Financial Results for Q1 of FY 2023

Highlights of Q1 FY 2023:

• Net profit of ₹756crore, QoQ growth of 10%.
• Operating Profit of₹2,052 crore, QoQ growth of 36%.
• NII stood at ₹2488 crore, QoQ growth of 3%.
• NIM at 4.02% (3.73% excluding interest on IT refund), QoQ growth of 5bps.
• Cost of Deposit stood at 3.36% for Q1 of FY 2023 as against 3.43% for Q4 of FY 2022.
• Cost of Funds stood at 3.63%for Q1 of FY 2023as against 3.69% for Q4 of FY 2022.
• CRAR at 19.57%, QoQ growth of 51bps.
• Return on Assets (ROA) at 1.03%, QoQ growth by 8bps.
• Return on Equity (ROE) at 14.80%, QoQ growth by 32bps.
• CASA ratio stood at 55.65%for Q1 of FY 2023 as against 56.77% for Q4 of FY 2022.
• Net NPA at 1.25%for Q1 of FY 2023 as against 1.36% for Q4 of FY 2022.
• PCR stood at 97.79% as against 97.63% as on March 31, 2022.

Operating Performance:

• Net Profit improved by 25%for Q1-2023to ₹756crore as against net profit of ₹603crore for Q1-2022. Net Profitfor Q4-2022 was ₹691 crore.
• PBT improvedby 7% for Q1-2023 to ₹1,093crore as against ₹1,024crore for Q1-2022. PBT for Q4-2022 was ₹844 crore.
• Operating profit stood at ₹2,052crore for Q1-2023as against ₹2,868crorefor Q1-2022. Operating profit was at ₹1,513crore for Q4-2022.
• Net Interest Incomestood at₹2,488crore for Q1-2023as against ₹2,506crore for Q1-2022.NII stood ₹2,420crore for Q4-2022.
• Net Interest Margin (NIM) stood at4.02%(3.73% excluding interest on IT refund)for Q1-2023 as compared to 4.06% for Q1-2022. NIM stood 97% for Q4-2022.
• Cost of Deposit reducedby 36bps to 3.36% for Q1-2023 as compared to 3.72% for Q1-2022. Cost of deposit stood at 3.43% for Q4-2022.
• Cost of Fundsreduced by 35bps to 3.63% for Q1-2023 as compared to 3.98% for Q1-2022. Cost of funds stood at 3.69% for Q4-2022.

Business Growth

• CASA improvedto ₹1,25,356crore as on June 30, 2022 as against ₹1,16,595as on June 30, 2021 (YoY growth of8%). CASA stood at₹1,32,359croreas on March 31, 2022.
• Share of CASAin Total Deposits improved65% as on June30, 2022 as against 52.43% as on June 30, 2021and 56.77%as on March 31, 2022.
• Net advances grew by 12% YoY to ₹1,38,046 crore as on June 30, 2022.Gross advances stood at ₹1,70,390 crore as on June 30, 2022,YoY growth of 9%.
• The composition of Advances portfolioCorporate v/s Retail was at37:63as on June 30, 2022.

Asset Quality

• Gross NPA ratio improved 90% as on June 30, 2022as against22.71% as on June 30, 2021. Gross NPA stood at 20.16% as on March 31, 2022.
• Net NPA ratio improved25% as on June 30, 2022 as against1.67% as on June 30, 2021. Net NPA ratio stood at1.36%as on March 31, 2022.
• Provision Coverage Ratio (including Technical Write-Offs)improved to 97.79% as on June 30, 2022 from 97.42% as on June 30, 2021.PCR stood at97.63% as on March 31, 2022.

Capital Position

• Tier 1 improvedto 17.13% as on June 30, 2022 as against 16.68% as on March 31, 2022and 13.64% as on June 30, 2021.
• CRARimproved to 19.57% as on June 30, 2022 as against19.06 % as on March 31, 2022and 16.23% as on June 30, 2021.
• Risk Weighted Assets (RWA) reducedby0.29% to ₹1,53,832 crore as on June 30, 2022 as against ₹1,54,285 crore as on June 30, 2021.Total RWA was ₹1,54,559 crore as on March 31, 2022. Credit Risk weighted assets reduced by0.88% to ₹1,21,798 crore as on June 30, 2022 as against ₹1,22,876 crore as on June 30, 2021. Credit RWA was ₹1,22,451crore as on March 31, 2022.

Mumbai, July 21, 2022: The Board of Directors of IDBI Bank Ltd. (IDBI Bank) met in Mumbai today and approved the financial results for the Quarter ended June 30, 2022.

All representatives of Print, Wire and Electronic Media.

सीआइएन/(CIN)L65190MH2004GOI148838

IDBI Bank Ltd

Key Summary for Q1 of FY 2023 Results

Previous periods figures have been regrouped/ restated (wherever necessary)

1- Annualized

^ – NIM excluding interest on IT refund – 3.73%

^^ – NIM excluding interest on IT refund – 3.59%