IDBI Bank reported a 57% increase in net profit to Rs 1,458 crore in the third quarter ending December 31, attributed to lower provisioning and improved interest income. The bank’s interest income rose to Rs 6,541 crore during the quarter compared to Rs 5,231 crore in the same period the previous fiscal year. The gross non-performing asset (NPA) ratio improved to 4.69%, and the net NPA fell to 0.34%. The bank’s provisioning and contingencies decreased to Rs 320 crore in the December quarter. The provision coverage ratio (including technical write-offs) stood at 99.17%.
IDBI Bank Q3 Net Profit Jumps 57% to Rs 1,458 Crore
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