IDBI Bank - Q4FY13 Results First Cut - Microsec

IDBI Bank Ltd announced its Q4FY13 result on 25th April 2013.

The bank's total income increased by 13.31% QoQ and 29.51% YoY to INR2586.87 crores, driven by YoY growth in its Net Interest Income (NII) and Other Income (OI) by 18.92% and 45.82% respectively. Whereas, Profit After Tax (PAT) increased by 33.04% QoQ while, declined by 28.07% YoY to INR554.45 crores. Bank has increased its provision by 206.74% YoY to INR869.12 crores, which has affected its bottom line.

During the quarter, bank's loan book and total deposits expanded by 14.83% and 21.58% QoQ to INR196306.45 and INR226889.98 crores respectively. On the asset quality front, bank has improved its asset quality. GNPA and NNPA improved by 45 and 35bps QoQ to 3.22% and 1.58% respectively. Moreover, bank's low cost deposit base (CASA) has been improved by 285bps QoQ and 102bps YoY to 25.12% which helped it to improved its Net Interest Margin by 12bps YoY to 2.19%. Moreover, Capital Adequacy Ratio (CAR) stood at 13.13%, which is 4.13% higher than the regulator's stipulated norm. Bank has improved its Provision Coverage Ratio (PCR) by 350bps QoQ and 1248bps YoY to 53.67%, however, it is still hovering in unsatisfactory level.

In FY13, bank's topline grew by 29.08% YoY to INR8592.62 crores. Whereas, bottom line declined by 7.36% YoY to INR1882.08 crores.

For the year ended March 31, 2013, the Board of Directors have recommended a dividend of Rs. 3.5per equity share.

Source : Equity Bulls

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