IDBI Bank Stock Trade Flats Post Q1 FY24-25 Business Update IDBI Bank Stock Trade Flats Post Q1 FY24-25 Business Update

The top private sector bank, IDBI, released its quarterly results for the fiscal year 2023–2024, revealing a 43.7% increase in net profit, or rupees 1628.5 crore, over the same period the previous year (Rs. 1134.4 crore). Following these results, which show an all-time high in net profit, the share price is currently rising slowly, up 0.65% to 84.26 rupees. The stock increased by 24% this year, which is excellent news for all IDBI stakeholders.

IDBI growth Impact:

As per the latest Q1 FY24-25, we can see that total business YoY increased by 15%, which is Rs. 4,71,563 crore, which is higher than last quarter. For deposits, we can see a 13% growth rise. For the Q4. The CASA deposit immediately increased to 5%, and net advances increased by 17%—these are excellent results for the IDBI Bank.\

Q4 2024 Highlights for the IDBI bank:

The return on asset (ROA) improved by 1.82% for Q4 FY 2023-24 compared to last year’s March 2023, which was 1.43%, an upside of 39 basis points. IDBI Bank’s total income for 2023–2024 increased to Rs. 7887 crore from Rs. 7014 crore in 2022–2023. The provisional covering ratio rises to 99.09% for this quarter, which is early at 97.94% on March 31, 2023.

People have good faith in IDBI, and that’s why the deposit also increased to Rs. 2,77,657 crore as of March 31, 2024, from Rs.2,55,490 crore on March 31, 2023. The lender’s current account-saving accounts (CASA) rose 5% directly this quarter from Rs. 1.40 lakh crore, which was previously Rs. 1.34 lakh crore for March 31, 2023. The net advance also increased by 16% YoY for this quarter. The bank’s net profit increased by 55% to Rs 5634 crore, an all-time high.

Conclusion: IDBI Bank’s latest June quarter business updates show a solid performance, with a 15% increase in total business. The bank has also seen a 13% rise in total deposits, indicating strong customer confidence and growth in its financial base. Additionally, the 5% growth in CASA highlights improved customer engagement and a stable funding base.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.