Spread the love

New Delhi: IDBI Bank’s net profit has increased by 79% year-on-year to Rs 2,439 crore for financial year 2021-22, according to its earnings results published after a board meeting on Monday.

The public sector bank reported net interest income of Rs 9,162 crore for the financial year 2021-22, recording an increase of 7%.

It brought down its cost of deposits to 3.56% from 4.29% a year ago. It had made gross advances of Rs. 1,78,207 crore in the financial year ended 31 March 2022.

The loan portfolio of the bank is split 37:63 between corporate and retail. The government and state-run Life Insurance Corporation of India together hold 95% of Bank.

The government had announced plans for the privatisation of IDBI Bank in February 2021.


Leave a Reply

Your email address will not be published. Required fields are marked *