IDBI Bank's net profit fell 39.2% year-on-year to Rs 2,205 crore in the quarter ended Sept. 30, compared with Rs 3,627 crore in the year-ago quarter.
Net interest income (NII) increased 28.7% to Rs 4,228 crore from Rs 3,285 crore in the year-ago quarter. Provisions stand at Rs 8.55 crore.
Net interest margin came in at 4.11%, rising 40 basis points YoY, and 50 basis points QoQ.
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IDBI Bank Q2 Results - YoY
- Net profit down 39.2% at Rs 2,205 crore vs Rs 3,627 crore YoY
- NII up 29% at Rs 4,228 crore YoY
- Operating profit down 17.9% at Rs 2,893 crore vs Rs 3,523 crore YoY
- Gross NPA at 2.12% vs 2.30% QoQ
- Net NPA at 0.17% vs 0.16% QoQ
- Provisions stand at Rs 8.55 crore
The results come after the Cabinet Committee on Economic Affairs, on October 14, approved the sale of IDBI Bank stake. Canada-based Fairfax Financial Holdings will acquire a combined 60.72% stake from the government and Life Insurance Corporation of India (LIC) for Rs 52,878 crore. The plan also includes a proposed merger of CSB Bank with IDBI Bank within two years, subject to RBI and Sebi approvals. Fairfax holds about 40% of CSB Bank.
The deal ends a process that stretched over five years, after the disinvestment was first announced in the Union Budget for 2021-22. The government held 45.48% of the bank and LIC 49.24% before the sale. The government says the bank's recovery is complete, with gross non-performing assets at 2.32% and total business above Rs 6.27 lakh crore as of September 2026.
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