- IDBI Bank’s net income for the fourth quarter increased by 26% year over year, reaching 20.5 billion rupees, up from 16.3 billion rupees.
- Gross non-performing assets showed improvement, decreasing to 2.98% from the previous quarter’s 3.57%.
- The bank set aside 2.33 billion rupees in provisions, marking a 40% increase compared to the previous quarter.
- Operating profit surged by 47% year over year, totaling 31.9 billion rupees.
- Interest income slightly decreased by 0.2% year over year to 69.79 billion rupees.
- Interest expense rose by 12% year over year, reaching 36.9 billion rupees.
- Other income increased significantly to 20.6 billion rupees, compared to 8.96 billion rupees in the previous year.
- The dividend per share declared was 2.10 rupees.
- Shares of IDBI Bank rose as much as 4.3% following the earnings announcement.
- 4Q bad loan provision net of reversal amounted to -INR27.6 billion.
- The stock price increased by 2.3%, trading at 82.32 rupees with 8.98 million shares exchanged.
- No buy, hold, or sell recommendations were reported.
A look at IDBI Bank Ltd Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
IDBI Bank Limited, a provider of banking and financial services, shows a positive long-term outlook based on its Smartkarma Smart Scores. With a high Dividend score of 5 indicating strong dividend performance, investors can expect attractive returns in the form of dividends. Additionally, the bank scores well in Momentum, pointing to favorable momentum in its market performance. This suggests the bank is well-positioned for potential growth and market acceptance.
Furthermore, IDBI Bank Ltd demonstrates resilience with a score of 4, indicating its ability to withstand challenges and maintain stability in the face of market fluctuations. Coupled with solid scores in both Value and Growth, investors may find the bank to be a promising investment option for the long run, offering a balance of value, growth potential, and financial stability.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
