IDBI Bank Q4 internet up 64% to Rs 1,133 cr; proposes dividend of Rs 1 per share

Its capital adequacy ratio stood at 20.44 percent with Common Equity Tier of 18.08 percent at the end of March 2023Abhijit Lele Mumbai For FY23, the net earnings grew by 49 percent to Rs 3,645 crore as versus Rs 2,439 crore for FY22 2 minutes checked out Last Updated: Apr 29 2023|3:58 PM IST Listen to This ArticleYour web browser does not support the audio aspect. Economic sector loan provider IDBI Bank’s net revenue for the March 2023 quarter (Q4FY23) increased by 64 percent year-on-year (Y-o-Y) to Rs 1,133 crore on enhancement in net interest margins. Sequentially, the earnings increased by 22.2 percent from Rs 927 crore in December 2022 (Q3FY23). For FY23, the net revenue grew by 49 percent to Rs 3,645 crore as versus Rs 2,439 crore for FY22. IDBI Bank’s board of directors suggested a dividend of 10 percent (Rs one) per share of Rs 10 each for the fiscal year ended March 2023 (FY23), based on investor’s approval, the bank stated in a filing with BSE. It has actually proposed a dividend after 8 years, the bank authorities stated. Its capital adequacy ratio stood at 20.44 percent with Common Equity Tier of 18.08 percent at the end of March 2023. IDBI Bank’s net interest earnings (NII), interest profits minus interest expenditures, grew by 35 percent on Y-o-Y basis to Rs 3,280 crore in Q4FY23 as versus Rs 2,420 crore for Q4FY22. Net interest margin (NIM) enhanced to 5.01 percent for Q4FY23 from 3.97 percent for Q4FY22. Advances broaden
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