IDBI Bank Q2 Updates: Total Deposits Increase 11%
The bank's current account-saving accounts deposits (the proportion of deposits that come from low-cost current and savings accounts) rose 4% to Rs 1.33 lakh crore i
Signage of IDBI Bank seen at its Prabhadevi branch in Mumbai.(Photo: Anirudh Saligrama/NDTV Profit)
IDBI Bank's total deposits in the quarter ended September rose by 11% year-on-year to Rs 2.77 lakh crore, as per the provisional data shared by the private lender on Friday. This compares with Rs 2.49 lakh crore for the same period last year.
The lender's net advances increased 19% year-on-year to Rs 2.01 lakh crore, against Rs 1.68 lakh crore for the same period in fiscal 2024, the statement said.
The bank's current account-savings accounts deposits (the proportion of deposits that come from low-cost current and savings accounts) rose 4% to Rs 1.33 lakh crore in the second quarter of fiscal 2025. This compares with Rs 1.28 lakh crore for the same period last year.
IDBI Bank's total deposits in the quarter ended June 2024 grew by 13% year-on-year to Rs 2.77 lakh crore.
The lender's net advances increased 17% year-on-year to Rs 1.94 lakh crore, against Rs 1.65 lakh crore for the same period in fiscal 2024, the statement said.
The bank's CASA deposits rose 5% to Rs 1.34 lakh crore in the first quarter of fiscal 2025.
Shares of IDBI Bank closed 0.71% lower at Rs 83.81 apiece on the NSE, compared to a 0.93% decline in the benchmark Nifty 50.
The stock has risen 24.39% on a year-to-date basis and 20.55% over the past 12 months. The relative strength index was at a decline of 57.57.
Out of the analysts tracking the company, none have a 'buy' rating on the stock, none suggest a 'hold', and none recommend 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price targets does not apply in this case.
