IDBI Bank Q4 net up 35% at Rs 691 crore

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MUMBAI: IDBI Bank has reported a net profit of Rs 691 crore for the quarter ended March 2022, an increase of 35% over Rs 512 crore in the corresponding quarter last year.
The bank’s gross advances stood at Rs 1,78,207 crore as on March 31, 2022, growth of 10.07% while net advances grew 14% to Rs 145772 crore.
The bank’s net NPA ratio improved to 1.27 % as on March 31, 2022 as against 1.97% as on March 31, 2021.
During FY22, the bank’s recovery from write off accounts increased to Rs 846 crore during FY 2022 as compared to Rs 547 crore for FY21.
Due to the focus on low cost funds, the bank’s deposit base grew only marginally to Rs 2.33 lakh crore in FY22 from Rs 2.31 lakh crore in FY21.
Low cost current and savings account deposits grew 14% to Rs 1,32,359 crore as on March 31, 2022 as against Rs 1,16,446 as of March 2021.

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