When Will IDBI Bank Announce Its Third Quarter Earnings — Details Here

Leading private lender IDBI Bank Ltd. on Jan. 13 said that it will declare its financial results for the quarter and nine-month period ended Dec. 31, 2024, next week. The bank made the announcement in a filing to the stock exchanges.

Established in 1964, IDBI Bank was previously a development financial institution named the Industrial Development Bank of India. The entity was converted to a banking company – IDBI Ltd. – in 2004. Since then, the bank has developed into a Rs 85,600-crore market cap lender with over 2,000 branches across India. 

Here is everything you need to know about IDBI Bank Q3 Results. 

IDBI Bank’s board of directors will meet on Monday, Jan. 20, to approve the financial results for the quarter ended Dec. 31, 2024.

"It is hereby informed that a meeting of the Board of Directors of IDBI Bank Ltd. will be held on Monday, January 20, 2025, to consider and approve the Un-audited Financial Results of the Bank for the quarter and nine months ended December 31, 2024 subject to a Limited Review by the Statutory Auditors," IDBI bank said in its filing to the NSE and BSE.

IDBI Bank’s stock price has surged 20.91% in the last five trading sessions. In contrast, the stock has slipped nearly 10% in six months. In the last year, IDBI Bank's share price has jumped over 20%. 

Shares of IDBI Bank closed Friday's trade up 4.92% at Rs 83.55 per share on the NSE, while the benchmark Nifty 50 ended the session 0.47% lower at 23,203.20 points.

IDBI Bank reported strong growth in its Q2 results, with standalone net interest income rising by 26% year-on-year to Rs 3,875 crore. The bank's standalone net profit surged 39% YoY to Rs 1,836 crore. On the asset quality front, the gross NPA improved to 3.68%, down from 3.87% in the previous quarter, while the net NPA declined to 0.2% from 0.23% QoQ.

IDBI Bank's net advances grew by 19% year-on-year, reaching Rs 2.01 lakh crore, compared to Rs 1.68 lakh crore in the same quarter last year. The bank's provision coverage ratio stood at 99.42%, reflecting a year-on-year growth of 32 basis points.