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IDBI Bank Q3 Results: Net profit surges 53% to Rs 578 cr; net interest income up

Agencies | Updated on: Friday, January 21, 2022, 03:08 PM IST

The bank's stressed assets ratio also improved, with gross non-performing assets (NPAs) declining to 20.56 per cent of gross loans as on December 31, 2021. |
The bank's stressed assets ratio also improved, with gross non-performing assets (NPAs) declining to 20.56 per cent of gross loans as on December 31, 2021. |
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IDBI Bank reported a 53 per cent rise in standalone net profit at Rs 578 crore for the third quarter ended December.

The bank's total income fell to Rs 5,772.86 crore during the quarter as against Rs 6,003.91 crore in the same period of 2020-21.

The bank's net interest income gained by 31 per cent to Rs 2,383 crore during the quarter as against Rs 1,817 crore in the year-ago period.

Net Interest Margin (NIM) improved by 86 basis points to 3.65 per cent as compared to 2.79 per cent in Q3 of the previous fiscal, the lender said.

The bank's stressed assets ratio also improved, with gross non-performing assets (NPAs) declining to 20.56 per cent of gross loans as on December 31, 2021, while Net NPAs improved to 1.70 per cent from 1.94 per cent.

(With inputs from PTI)

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Published on: Friday, January 21, 2022, 03:08 PM IST