News Karnataka
Monday, December 11 2023
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IDBI Bank logs Rs 3,645 cr PAT, advises dividend Re 1 per share

IDBI Bank logs Rs 3645 cr PAT advises dividend Re 1 per share
Photo Credit : IANS

Chennai: IDBI Bank on Saturday said that it had closed FY23 with a net profit of about Rs 3,645 crore and the Board of Directors have recommended a dividend of Re 1 per equity share.

In a regulatory filing, the IDBI Bank also said its Board has granted approval for the divestment of an additional stake of 0.01 per cent of the paid-up share capital of National Securities Depository Ltd. (NSDL). With this the total divestment of the Bank’s stake is up to 11.11 per cent of NSDL’s paid-up share capital.

Last fiscal IDBI Bank earned a total income of about Rs 24,941.76 crore (FY22 Rs 22,981.80 crore) and a net profit of about Rs 3,645 crore (Rs 2,439.27 crore).

During the period under review, the provisions (other than tax) and Contingencies (Net) (Including write-offs) were Rs 3,497.86 crore (Rs 3,886.54 crore).

The bank’s gross non-performing assets (GNPA) as of 31.3.20233 stood at about Rs 10,969.29 crore (as of 31.3.2022 Rs 34,114.83 crore) and net NPA at about Rs 1,494.74 crore (Rs 1,863.51 crore).

Read more:

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IDBI Bank proposes to change name

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