IDBI Bank had gained 2.49 per cent to Rs 37.05 after the company reported a 25 per cent jump in net profit to Rs 756 crore. Net Interest Income has declined marginally from Rs 2,506 crore in Q1 FY22 to Rs 2,488 crore in Q1 FY23.
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Cost of Funds reduced by 35 bps to 3.63 per cent for Q1 FY23 compared to 3.98 per cent for Q1 FY22. Operating profit fell by 28.5 per cent to Rs 2,052 crore in Q1 FY23 from Rs 2,868 crore in Q1 FY22.
Around the globe, more than 1,890 branches have the state’s own largest bank with 3,300 ATMs. On June 30, the bank held a share of the Government of India by 45.48 per cent and the Life Insurance Corporation of India by 49.24 per cent.
