<p>New Delhi: IDBI Bank on Saturday reported a 57 per cent growth in net profit to Rs 1,458 crore in the third quarter ended December 31, on lower provisioning and better interest income.</p>.<p>The LIC-controlled bank had a net profit of Rs 927 crore in the October-December quarter of 2022.</p>.<p>The bank's interest income improved during the third quarter of the current fiscal to Rs 6,541 crore, as against Rs 5,231 crore in the same period last fiscal.</p>.<p>The gross non-performing asset (NPA) ratio improved to 4.69 per cent as on December 31, 2023, as against 13.82 per cent as on December 31, 2022.</p>.<p>Similarly, the net NPA also declined to 0.34 per cent, as compared to 1.08 per cent at the end of December 2022.</p>.Kotak Mahindra Bank net profit rises 6.75% to Rs 4,265 cr in Q3.<p>As a result provisioning and contingencies came down to Rs 320 crore in the December quarter, from Rs 784 crore in the same quarter of the last fiscal.</p>.<p>Provision Coverage Ratio (including Technical Write-Offs) stood at 99.17 per cent as on December 31, 2023.</p>.<p>During the quarter Capital Adequacy Ratio of the bank improved to 20.32 per cent, as compared to 20.14 per cent at the end of December 2022.</p>.<p>The bank has not raised capital during the December quarter and the earlier funds have been fully utilised, it said.</p>.<p>The government, which owns over 45 per cent stake in IDBI Bank, plans to sell its stake in the bank and the process could gather pace next financial year.</p>.<p>Meanwhile, life insurance behemoth LIC, which has a 49.24 per cent shareholding, is keen to hold strategic stake in the bank so that it can enjoy the benefit of bancassurance channel.</p>
<p>New Delhi: IDBI Bank on Saturday reported a 57 per cent growth in net profit to Rs 1,458 crore in the third quarter ended December 31, on lower provisioning and better interest income.</p>.<p>The LIC-controlled bank had a net profit of Rs 927 crore in the October-December quarter of 2022.</p>.<p>The bank's interest income improved during the third quarter of the current fiscal to Rs 6,541 crore, as against Rs 5,231 crore in the same period last fiscal.</p>.<p>The gross non-performing asset (NPA) ratio improved to 4.69 per cent as on December 31, 2023, as against 13.82 per cent as on December 31, 2022.</p>.<p>Similarly, the net NPA also declined to 0.34 per cent, as compared to 1.08 per cent at the end of December 2022.</p>.Kotak Mahindra Bank net profit rises 6.75% to Rs 4,265 cr in Q3.<p>As a result provisioning and contingencies came down to Rs 320 crore in the December quarter, from Rs 784 crore in the same quarter of the last fiscal.</p>.<p>Provision Coverage Ratio (including Technical Write-Offs) stood at 99.17 per cent as on December 31, 2023.</p>.<p>During the quarter Capital Adequacy Ratio of the bank improved to 20.32 per cent, as compared to 20.14 per cent at the end of December 2022.</p>.<p>The bank has not raised capital during the December quarter and the earlier funds have been fully utilised, it said.</p>.<p>The government, which owns over 45 per cent stake in IDBI Bank, plans to sell its stake in the bank and the process could gather pace next financial year.</p>.<p>Meanwhile, life insurance behemoth LIC, which has a 49.24 per cent shareholding, is keen to hold strategic stake in the bank so that it can enjoy the benefit of bancassurance channel.</p>