IDBI Bank has reported a strong growth of 49.4% YoY in
its net profit at Rs 771 crore for the quarter ended March 2012 due to decline
in provisions.
The bank made provision of Rs 273 crore in the January-March
quarter, quite lower as compared to Rs 406 crore in the corresponding quarter
of last fiscal.
Net interest income increased 9.4% to Rs 1,211 crore from Rs
1,107 crore during the same period
.
Its asset quality and margins improved sequentially. Net
interest margin improved at 2.07% versus 1.86% and capital adequacy ratio
advanced at 14.58% versus 13.64% quarter-on-quarter.
Deposit growth in the quarter ended March 2012 stood at
14.7% while advances grew at 15.3%.
Gross non-performing assets (NPAs) stood at Rs 4,551 crore
versus Rs 4,639 crore and net NPAs reported at Rs 2,910 crore versus Rs 3,057
crore.
Gross NPAs declined at 2.49% versus 2.94% and net NPAs too
fell at 1.61% versus 1.96%.
For the financial year 2011-12, net interest income
increased 6.4% YoY at Rs 4,545 crore and profit after tax grew by 23% at Rs
2,032 crore.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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