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IDBI Bank – Financial Results for Q4 & FY 2022


IDBI Bank – Financial Results for Q4 & FY 2022

IDBI Bank reports Net Profit at ₹2,439 crore, YoY growth of 79%, CRAR stood at 19.06%, YoY growth of 347 bps

Highlightsfor FY 2022

Net profit of ₹2,439 crore, YoY growth of 79%.

Operating Profit of ₹7,495 crore, YoY growth of 7%.

NII of ₹9,162crore, YoY growth of 7%.

NIM at 3.73%, YoY growth of 35bps.

Cost of Deposit stood at 3.56% for FY 2022 as against 4.29% for FY 2021

Cost of Funds stood at 3.84%for FY 2022 as against 4.56% for FY 2021

CRAR at 19.06 %, YoY growth of 347bps.

Return on Assets (ROA) at 0.84%, YoY growth by 38bps.

Return on Equity (ROE) at 13.60%, YoY growth by 354bps.

CASA ratio at 56.77 %, YoY growth of 633bps.

Net NPA at 1.27 % as against 1.97 % as on March 31, 2021.

PCR stood at 97.63 % as against 96.90 % as on March 31, 2021.

Gross advances stood at ₹1,78,207 crore, YoY growth of 10.07%.

Highlights for Q4-2022

§ Net Profit improved by 35% for Q4-2022 to ₹691 crore as against net profit of ₹512 crore for Q4-2021. Net Profit for Q3-2022 was ₹578 crore.

§ PBT improved by 100% for Q4-2022 to ₹844 crore as against ₹423 crore for Q4-2021. PBT for Q3-2022 was ₹966 crore.

§ Operating profit stood at ₹1,513 crore for Q4-2022 as against ₹2,816crore (Includes interest income of ₹1,313 crore on Income Tax refund) for Q4-2021. Operating profit stood at ₹1,768crore for Q3-2022.

§ Net Interest Income stood at ₹2,420 crore for Q4-2022 as against ₹3,240crore for Q4-2021. Excluding interest income of ₹1,313 crore on Income Tax refund for Q4-2021 the NII for Q4-2022 increased by 26% over the Q4-2021. NII stood ₹2,383 crore for Q3-2022.

§ Net Interest Margin (NIM) stood at 3.97% for Q4-2022 as compared to 5.14% for Q4-2021. Excluding interest income of ₹1,313 crore on Income Tax refund for Q4-2021 the NIM for Q4-2022 increased by 92 bps over the Q4-2021. NIM stood 3.88% for Q3-2022.

§ Cost of Deposit reduced by 48 bps to 3.43 % for Q4-2022 as compared to 3.91% for Q4-2021. Cost of deposit stood at 3.50% for Q3-2022.

§ Cost of Fundsreduced by 47bps to 3.69% for Q4-2022 as compared to 4.16% for Q4-2021. Cost of funds stood at 3.79% for Q3-2022.

Business Growth

§ CASA improved to ₹1,32,359crore as on March 31, 2022 as against ₹1,16,446 as on March 31, 2021 (YoY growth of 14%). CASA stood at ₹1,21,731croreas on December 31, 2021.

§ Share of CASA in Total Deposits improved to 56.77% as on March 31, 2022 as against 50.44 % as on March 31, 2021and 54.69%as on December 31, 2021.

§ Gross advances stood at ₹1,78,207 crore as on March 31, 2022, growth of 10.07% YoY. Net advances grew by 14% YoY to ₹1,45,772 crore as on March 31, 2022.

§ The composition of Advances portfolio Corporate v/s Retail was realigned to 37:63 as on March 31, 2022 as against 38:62as on March 31, 2021and 37:63 for December 2021.

Asset Quality

§ Gross NPA ratio improved to19.14% as on March 31, 2022 as against 22.37%as on March 31, 2021. Gross NPA stood at 20.56 % as on December 31, 2021.

§ Net NPA ratio improvedto1.27% as on March 31, 2022 as against 1.97%as on March 31, 2021 and 1.70% as on December 31, 2021.

§ Provision Coverage Ratio (including Technical Write-Offs)improved to 97.63% as on March 31, 2022 from 96.90% as on March 31, 2021.PCR stood at97.10% as on December 31, 2021.

§ Recovery from write off accounts increased to ₹846crore during FY 2022 as against ₹547crore for FY2021.

Capital Position

§ Tier 1 improvedto 16.68% as on March 31, 2022 as against 13.06% as on March 31, 2021 and 14.13% as on December 31, 2021.

§ CRARimproved to 19.06% as on March 31, 2022 as against 15.59 % as on March 31, 2021 and 16.75% as on December 31, 2021.

§ Risk Weighted Assets (RWA) reduced by2% to ₹1,54,559crore as on March 31, 2022 as against ₹1,57,471crore as on March 31, 2021. Credit Risk weighted assets reduced by5% to ₹1,22,451crore as on March 31, 2022 as against ₹1,28,419crore as on March 31, 2021.

COVID 19 Impact

§ As on March 31, 2022, the Bank had COVID-19 related provisions of ₹116 crore (other than provisions held for restructuring under COVID-19 norms).

Mumbai, May 02, 2022: The Board of Directors of IDBI Bank Ltd. (IDBI Bank) met in Mumbai today and approved the financial results for the Quarter and Financial Year ended March 31, 2022.

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