CMD Pradip Kumar Das elaborates on IREDA s growth strategy, leveraging Navratna status for lower borrowing costs and overseas green bond exploration to support sustainable project financing and brand building efforts.
IDBI Bank has reported a 57% increase in net profit to Rs 1,458 crore for the third quarter, with net interest income rising 17% to Rs 3,435 crore. The bank s net advances grew by 18% to Rs 1.75 lakh crore, aided by growth in the retail segment. Gross net performing assets were down to 4.69%, while provision coverage ratio improved to 99.17%.
In a business update earlier in January 2024, the lender reported a 10.67 percent YoY growth in business at Rs 20.68 lakh crore in the December quarter
Baldev Prakash says: Asset quality has been the biggest success story of the bank. If you see the numbers in the last two years, one-and-a-half years, you will see that consistently on a quarter-on-quarter basis, we have not only achieved our guidance, but surpassed that. As of today, we are already below 5% and our guidance is 4.5% on gross NPA.”