IDBI Bank (NSE: IDBI), one of the leading public sector banks in India, has reported its financial results for the third quarter of the fiscal year 2023. The bank’s Revenue for the quarter was ₹5,229.63 crore, representing increase of 13% compared to the same period in the previous year. Consolidated Net Profit of ₹944.82 Crore, up 60% from ₹612.34 Crore in the same quarter of the previous year. The Earnings per Share is ₹0.88 for this quarter.
Total assets of the bank stood at ₹306,618.86 crore, an increase of 5.2% compared to the third quarter of the previous year. This growth was driven by an increase in the bank’s advances, which stood at ₹148,212.55 crore, an increase of 17.3% compared to the same period in the previous year. The bank’s investments also increased by 4.5% year on year, which is a positive indication of the bank’s growth.
The bank’s return on assets (ROA) for the quarter was 1.22%, slight upward movement of 41 bps compared to the same period in the previous year. The bank’s net interest margin (NIM) for the quarter was 4.59%, an increase of 71 bps year on year.
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