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IDBI Bank's Q1 PAT Reaches Rs 1,224 Crore
The bank reported a total income of Rs 7,711.95 crore for Q1FY24, a significant increase from Rs 5,774.11 crore in Q1FY23
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IDBI Bank announced a higher net profit of Rs 1,224.18 crore for the first quarter of the fiscal year 2023-2024. The bank reported a total income of Rs 7,711.95 crore for Q1FY24, a significant increase from Rs 5,774.11 crore in Q1FY23. During the quarter, the bank made provisions of Rs 1,190.43 crore, with Rs 581.35 crore allocated for non-performing assets.
As of June 30, 2023, IDBI Bank's gross non-performing assets (GNPA) stood at Rs 8,762.51 crore, witnessing a substantial decline from Rs 33,908.32 crore on June 30, 2022. Additionally, the net non-performing assets (NPA) also decreased to Rs 730.60 crore compared to Rs 1,741.24 crore in the same period last year.