IDBI Bank Q4FY22 and Year Ended result : Profit up 33% to ₹730.4 Cr YoY; NNPA improved to 1.27%

Net Interest Margin (NIM) stood at 3.97% for Q4-2022 as compared to 5.14% for Q4-2021 Gross NPA ratio improved to 19.14 % 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

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IDBI Bank Ltd is one of India’s largest commercial Banks. The Bank is a Universal Bank with their operations driven by a cutting edge core Banking IT platform. They offer personalized banking and financial solutions to their clients in the retail and corporate banking arena through their large network of Branches and ATMs spread across length and breadth of India. IDBI Bank had a network of 2095 branches and 3394 ATMs & CRMs as on 31 December 2020.

It operates in four segments namely Wholesale Banking Retail Banking Treasury Services and Other Banking Operations. They have six wholly-owned subsidiaries namely IDBI Homefinance Ltd IDBI Gilts Ltd IDBI Intech Ltd IDBI Capital Market Services Ltd IDBI Asset Management Ltd and IDBI MF Trustee Company Ltd. The Bank has posted its Q4FY22 and year ended financial results today, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹5,532.94 crore in the quarter ended on March 31, 2022 as against ₹6,984.45 crore in the corresponding quarter ended last year on Mar 31, 2021, decreased by 20.78%.

The company has posted a consolidated Net Profit of ₹730.49 crore in the quarter ended on March 31, 2022 as against ₹547.93 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges up by 33.32%.

The status of the EPS of the company stood at ₹0.68 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹0.59, up by 15.25%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4FY21)
Total Income5,532.945829.286,984.45
Total Expenses3969.594030.254118.02
PBT /(Loss)893.34996.93466.79
Total Tax /(credit)162.85394.19(81.14)
PAT /(Loss) [to the owners]730.49602.74547.93
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹23,238.41 crore in the financial year ended on March 31, 2022 as against ₹24,743.51 crore for the financial year ended on Mar 31, 2021, decreased by 6.08%.

The company has posted a consolidated Net Profit of ₹2,517.74 crore in the financial year ended on March 31, 2022 as against ₹1,448.67 crore for the financial year ended on March 31, 2021. The PAT surges up by 73.80%.

The status of the EPS of the company stood at ₹2.36 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹1.44, up by 63.89%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income23,238.4124,743.51
Total Expenses15628.0017579.05
PBT /(Loss)3,720.472,484.41
Total Tax /(credit)1,202.731,035.74
PAT /(Loss)2,517.741,448.67
*figures are in Crores

(III) Key Highlights about the Performance :

Market Times
  • Net Interest Income stood at ₹2,420 crore for Q4-2022 as against ₹3,240 crore 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 Funds reduced by 47 bps to 3.69% for Q4-2022 as compared to 4.16% for Q4-2021. Cost of funds stood at 3.79% for Q3-2022.
  1. CASA improved to ₹1,32,359 crore as on March 31, 2022 as against ₹1,16,446 as on March 31, 2021 (YoY growth of 14%). CASA stood at ₹1,21,731 crore as on December 31, 2021.
  2. Share of CASA in Total Deposits improved to 56.77% as on March 31, 2022 as against 50.44 % as on March 31, 2021 and 54.69 % as on December 31, 2021.
  3. 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.
  4. The composition of Advances portfolio Corporate & Retail was realigned to 37:63 as on March 31, 2022 as against 38:62 as on March 31, 2021 and 37:63 for December 2021.

(IV) Asset Quality and CAR :

  • Gross NPA ratio improved to 19.14 % 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 improved to 1.27 % 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 at 97.10% as on December 31, 2021.
  • Recovery from write off accounts increased to ₹846 crore during FY 2022 as against ₹547 crore for FY2021, hence improved by 54.66%.
  • Return on Average Assets (RoA) is at 0.95% for Q4 FY2022 against 0.81% in Q3 FY2022 and 0.70% in Q4 FY2021.
  • In Q4 FY2022, Bank’s total Capital Adequacy Ratio (CAR) was at 19.06%, as compared to 16.75% in Q3 FY2022 and 15.59% in Q4 FY2021.
  • Risk Weighted Assets (RWA) reduced by 2 % to ₹1,54,559 crore as on March 31, 2022 as against ₹1,57,471 crore as on March 31, 2021. Credit Risk weighted assets reduced by 5 % to ₹1,22,451 crore as on March 31, 2022 as against ₹1,28,419 crore as on March 31, 2021

Q4FY22Q3FY22Q4FY21
Gross NPA ₹*34,114.8334,405.3736,211.95
Gross NPA %19.1420.5622.37
Net NPA ₹*1, 856.162,289.272,519.38
Net NPA %1.271.701.97
RoA %0.950.810.70
**CAR %19.0616.7515.59
*₹ are in Crores **Capital Adequacy Ratio

Shares of IDBI Bank Ltd was last traded in BSE at ₹45.35 as compared to the previous close of ₹46.35. The total number of shares traded during the day was 464687 in over 1489 trades.

The stock last hit in BSE,

  • Intraday High of ₹ 46.50
  • Intraday low of ₹ 45.10