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IDBI Bank Q3 profit surges 60% to all-time high of ₹927 crore, NII up 23%

1 min read . Updated: 23 Jan 2023, 02:44 PM IST Jyoti Banthia
Recently, IDBI Bank has received government approval for an acquisition of 51% stake by Life Insurance Corp. of India. Photo: MintPremium
Recently, IDBI Bank has received government approval for an acquisition of 51% stake by Life Insurance Corp. of India. Photo: Mint

Net interest income (NII) which is the difference between interest earned and interest expended, came in at ₹2,925 crore for the December quarter.

 

IDBI Bank on Monday reported a 60 per cent rise in standalone net profit to ₹927 crore for the December 2022 quarter as asset quality improved . This is against a net profit of ₹578 crore in the year-ago period, IDBI Bank said in a regulatory filing.

Net interest income (NII) which is the difference between interest earned and interest expended, came in at ₹2,925 crore for the December quarter. The latest quarter's NII climbed by 23 per cent from ₹2,383 crore in Q3FY22 and was up by 7 per cent from ₹2,738 crore in Q2FY23.

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The net advances grew by 17 per cent year-on-year to ₹1,48,213 crore as against ₹1,26,372 as on December 31, 2021.

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