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IDBI Bank logs higher Q3 PAT at Rs 1,458.18 crore

Mortgage lender IDBI Bank closed the third quarter of FY24 with higher net profit of Rs 1,458.18 crore.

Chennai, Jan 19,2024:  Mortgage lender IDBI Bank closed the third quarter of FY24 with higher net profit of Rs 1,458.18 crore.

In a regulatory filing on Saturday, IDBI Bank said for the quarter ended 31.12.2023 it had earned a total interest income of Rs 6,54.86 crore (Q3FY23 Rs.5,23.44 crore) and a net profit of Rs 1,458.18 crore (Rs 927.27 crore).

The profit went up owing to all round increase in its revenue streams.

During the quarter under review, the bank’s provisions came down to Rs.319.85 crore (Rs.784.28 crore).

As on December 31, 2023 the bank’s gross and net non-performing assets stood at Rs 8,589.40 crore (as on 31.12.2022 Rs.23,535.06 crore) and Rs 593.34 crore (Rs.1,595.63 crore)

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