 "IDBI Bank")
Private sector lender IDBI Bank’s net profit rose 35 per cent to Rs 691 crore year-on-year (YoY) in the fourth quarter (Q4) of FY22 on moderation in provisions and contingencies.
For FY22, the net profit rose 79 per cent to Rs 2,439 crore from Rs 1,359 crore in the previous financial year.
FY22 was the bank’s first full year of performance after it exited from the Reserve Bank of India’s Prompt Corrective Action plan in March 2021.
Its net interest income (NII) was down by 25 per cent at Rs 2,421 crore for Q4FY22 against Rs 3,239 crore in the year-ago period. Net
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