IDBI Bank Q1 loss widens, asset quality improves


IDBI Bank on Wednesday said its loss for the June quarter widened to Rs 3,801 crore from Rs 2.410 crore a year ago, along with a decline in interest income.

The lender said its net interest income was at Rs 1,458 crore for the first quarter of fiscal year 2020 as against Rs 1,639 crore last year. The banks’ net interest margin was at 2.13 per cent compared with 2.17 per cent.

IDBI Banks’ gross NPA ratio improved to 29.12 per cent as on June 30 against 30.78 per cent as on June 30, 2018.

Net NPA ratio improved to 8.02 per cent from against 18.76 per cent as on June 30, 2018 and 10.11 per cent as on March 31, 2019.

Net NPAs reduced to Rs 10,963 crore from Rs. 29,981 crore last year.

Provision Coverage Ratio (PCR-including technical write-offs) improved to 87.79 per cent from 64.45 per cent.

Recovery from technically write off accounts improved to Rs 79 crore in against Rs 69 crore. First Time NPAs reduced by 55 per cent from Rs 7,799 crore in Q1-2019 to Rs 3,486 crore.
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