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கே.பாக்யராஜ் கலெக்டராக நடிக்கும் "ஆண்டவன்

 கே.பாக்யராஜ் கலெக்டராக நடிக்கும் "ஆண்டவன்"! வில்லியம் பிரதர்ஸ் புரொடக்சன்ஸ் தயாரிப்பில், 'ஆண்டவன்'  திரைப்படம் உருவாகியுள...

Wednesday 29 July 2020

IDBI Bank Reports Profit for Second Consecutive Quarter

IDBI Bank Reports Profit for Second Consecutive Quarter, Clocks Net Profit of ₹ 144 crore
Highlights of Q1 FY 2021 (Quarter ending June 30, 2020) Financial Results

Major Highlights
Ø  Bank reports PAT of ₹ 144 crore  for Q1 FY 2021 against loss ₹ 3,801 crore  for
Q1-FY 2020

Ø  Bank registers Profit Before Tax (PBT) of ₹ 438 crore for Q1 FY 2021 against Loss Before Tax of ₹ 5,381 crore for Q1 FY 2020

Ø  Operating Profit for Q1 FY 2021 is ₹ 1,326 crore , YoY growth of 39%

Ø  NII at ₹ 1,773 crore for Q1 FY 2021, YoY growth of 22%

Ø  NIM at 2.81% for Q1 FY 2021, YoY growth of 68 bps

Ø  CASA ratio at 47.55%, YoY growth of 440 bps

Ø  Net NPA at 3.55%. CRAR at 13.37%

Ø  PCR at 94.71%, is the highest in the Banking Industry
Profitability
·        Net Profit reported for Q1-2021 is ₹ 144 crore as against loss of ₹ 3,801 crore for Q1-2020. Net Profit for Q1-2021 has improved by 7% against ₹ 135 crore reported for Q4-2020
·        Profit Before Tax (PBT) improved for Q1-2021 to ₹ 438 crore as against loss of           ₹ 5,381 crore for Q1-2020. PBT for Q1-2021 has improved by 51% against ₹ 290 crore reported for Q4-2020
·        Operating profit for Q1-2021 improved by 39% to ₹ 1,326 crore as against ₹ 951 crore for Q1-2020
·        Net Interest Income (NII) for Q1-2021 improved by 22% to ₹ 1,773 crore as against ₹1,458 crore for Q1-2020
·        Net Interest Margin (NIM) improved by 68 bps to 2.81% for Q1-2021 as compared to 2.13% for Q1-2020
·        Cost of Deposit improved by 64 bps to 4.65% for Q1-2021 as compared to 5.29% for Q1-2020 and improvement of 17 bps as compared to 4.82% for Q4-2020
·        Cost of Funds improved by 67 bps to 4.96% for Q1-2021 as compared to 5.63% for Q1-2020 and improvement of 23 bps as compared to 5.19% for Q4-2020
·        Non-Interest Income to Total Income improved to 17.01% for Q1-2021 as compared to 14.06% for Q1-2020
·        Cost to Net Income Ratio has improved to 52.25% in Q1-2021 from 58.48% in Q1-2020.
Business
·        CASA increased to ₹ 1,04,315 crore as on June 30, 2020 as against ₹ 99,590 crore as on June 30, 2019
·        Share of CASA in Total Deposits improved to 47.55% as on June 30, 2020 as against 43.15% as on June 30, 2019
·        The composition of Advances portfolio Corporate V/s Retail was realigned to 43:57 as on June 30, 2020 as against 48:52 as on June 30, 2019
·        Structured Retail Assets portfolio increased by ₹ 3,696 crore (7%) to ₹ 58,633 crore as on June 30, 2020 from ₹ 54,938 crore as on June 30, 2019
Asset Quality
·        Gross NPA ratio improved to 26.81% as on June 30, 2020 as against 29.12% as on June 30, 2019 and 27.53% as on March 31, 2020
·        Net NPA ratio improved to 3.55% as on June 30, 2020 as against 8.02% as on June 30, 2019 and 4.19% as on March 31, 2020
·        Provision Coverage Ratio (including Technical Write-Offs) improved to 94.71% as on June 30, 2020 from 87.79% as on June 30, 2019 and 93.74% as on March 31, 2020
·        First Time NPAs reduced to ₹ 69 crore in Q1-2021 from ₹ 3,486 crore in        Q1-2020. FTNPA for Q4-2020 stood at ₹ 727 crore
Capital
·        Tier 1 improved to 10.59% as on June 30, 2020 as against 6.14% as on June 30, 2019
·        CRAR improved to 13.37% as on June 30, 2020 as against 8.14% as on June 30, 2019
·        Risk Weighted Assets (RWA) reduced by 5.70% to ₹ 1,60,994 crore as on June 30, 2020 as against ₹ 1,70,734 crore as on June 30, 2019
COVID 19 Impact
·        The Bank continues to hold provisions against impact of COVID 19. During quarter ended June 2020, the Bank has made further COVID 19 related provisions of  ₹ 189 crore (Cumulative provision of ₹ 436 crore). The provision made by the Bank is more than minimum required as per the RBI guidelines.
IDBI-LIC Major achievements during Q1 FY 2021
·        LIC renewal Premium Collection through- Cash & Cheque increased during COVID-19. ~95% Branch activation & 1.15 lakh Transactions during Q1FY21.
·        MOU for Tie-up with LIC- Card Services Limited for launching co-branded credit cards executed.
·        New Insurance products on boarded on online BANCA platform ~85 % Branch activation & 7192 NOPs sourced with  95 crore premium during Q1 FY2021 with YOY Growth of 22%.
·        Agreement executed for appointment of LICHFL - Financial Service Limited (LICHFL-FSL) as corporate DSA for sourcing of NSRA (MSME & Agriculture) and select SRA loans (Auto, Personal & Education Loan).
Significant Developments during Q1 2021
·        The Bank launched FASTag for retail customers to enable automatic and cashless toll payments using RFID tag pasted on their vehicles.
·        The Bank received the Client Innovation Award from Infosys for Dynamic Virtual Account Product which facilitates electronic collection of proceeds with API Integration for Corporate and Institutional Clients.
·        The Bank received NPCI Certification for Electronic Toll Collection at Toll Plazas of IDBI Bank assisted and other Concessionaires.
·        The Bank has received citation for three awards in different categories from Association of Business Communicators of India (ABCI) for IDBI Bank’s quarterly Hindi Magazine ‘Vikas Prabha’.

·    The Board of Directors of IDBI Bank Ltd. (IDBI Bank) met in Mumbai today and approved the financial results for the Quarter ended June 30, 2020.

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