IDBI Bank’s gross non-performing belongings as a proportion of whole advances got here in at 22.37%.
Shares of the state-run lender IDBI Bank rose as a lot as 5 per cent to hit an intraday excessive of Rs 37.10 on the BSE after it reported March quarter earnings. IDBI Bank’s internet revenue greater than tripled to Rs 512 crore in contrast with Rs 135.39 crore throughout the identical interval final yr. Massive soar in IDBI Bank’s revenue got here on account of adverse provisions value Rs 1,119.65 crore for non-performing belongings and enchancment in working revenue, majorly pushed by improve in non-interest revenue, the financial institution stated in an investor presentation. (Track IDBI Bank inventory worth right here)
IDBI Bank’s internet curiosity revenue or the distinction between curiosity earned and curiosity expended jumped 37.5 per cent to Rs 3,240 crore from Rs 2,356.27 crore throughout the identical interval final yr. Net curiosity margin (NIM) for This fall FY 21 at 5.14 per cent, improved by 134 foundation factors on annual foundation.
Its unhealthy loans or gross non-performing belongings (NPA) as a proportion of whole advances got here in at 22.37 per cent in contrast with 23.52 per cent within the earlier quarter.
Total gross NPAs got here in at Rs 36,211.95 crore in contrast with Rs 37,559.39 crore in the identical quarter final yr.
Bank is now out of immediate corrective motion (PCA) framework, will guarantee compliance all PCA parameters on a steady foundation, IDBI Bank stated.
As of 1:39 pm, IDBI Bank shares traded 2.41 per cent greater at Rs 36.15, outperforming the Sensex which was down 0.7 per cent.
