Wednesday, April 20, 2011

IDBI Bank declared FY11 results


IDBI Bank declared its FY11 (financial year 2011) results. The bank has reported 22% YoY and 60% YoY growth in interest income and net profits respectively. Here is our analysis of the results.
Performance summary
Net interest income (NII) grows by 92% YoY in FY11, on the back of a 14% YoY growth in advances.
Capital adequacy ratio currently stands at 13.6% at the end of FY11 from 11.3% at the end of FY10.* Net interest margin comes in higher at 1.8% as compared to 1.3% in FY10.
Net NPA (non-performing assets) to advances slightly higher at 1.06% in FY11 from 1.02% in FY10.
Cost to income ratio shrinks from 40% in FY10 to 35% in FY11.
Net profit margins improve by 2.1% YoY in FY11, due to higher NII, despite higher tax outlays and lower other income.
* The board recommends a dividend of Rs 3.5 per share for FY11, working out to a dividend yield of 2%...

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