IDBI Bank Q3 net up 60% YoY to Rs 927 cr on improvement in margin

Transfers JP Infratech account to NARCL in January

IDBI Bank
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BS Reporter Mumbai
IDBI Bank's net profit for the third quarter ended December 2022 (Q3FY23) rose 60 per cent year on year (YoY) to Rs 927 crore on a sharp improvement in net interest margin (NIM).

The Mumbai-based private sector lender had posted net profit of Rs 578 crore a year ago (Q3FY22). Sequentially, the net profit rose from Rs 828 crore achieved in Q2FY23.

The banl's net onterest income (NII) improved by 23 per cent YoY to Rs 2,925 crore in Q3FY23 from Rs 2,383 crore in the third quarter if FY22. NII stood Rs 2,738 crore for Q2FY23.

The NIM improved

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First Published: Jan 23 2023 | 5:17 PM IST

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