IDBI Bank logs Rs 3,645 cr PAT, dividend Re 1 per share

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 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 Bank's stake up to 11.11 per cent of NSDL's paid-up share capital.

Last fiscal IDBI Bank had 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) was Rs 3,497.86 crore (Rs 3,886.54 crore).

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