IDBI Bank’s YoY Q2FY22 net profit up 75%

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New Delhi, Oct 21 | IDBI Bank on Thursday reported a rise of 75 per cent in its net profit for Q2FY22 on a year-on-year basis.

The bank’s net profit rose to Rs 567 crore as against Rs 324 crore reported for Q2FY21.

“Operating profit improved by 15 per cent for Q2-2022 to Rs 1,209 crore as against Rs 1,054 crore for Q2-2021,” the bank said in a statement.

Net Interest Income improved by 9 per cent for Q2FY22 to Rs 1,854 crore as against Rs 1,694 crore for Q2-2021.

“Net Interest Margin improved by 32 bps to 3.02 per cent for Q2-2022 as compared to 2.70 per cent for Q2-2021.”

According to the lender, the gross NPA ratio improved to 20.92 per cent as on September 30, 2021 as against 25.08 per cent as on September 30, 2020.

The Gross NPA stood at 21.48 per cent as on June 30, 2021.

“Net NPA ratio improved to 1.62 per cent as on September 30, 2021 as against 2.67 per cent as on September 30, 2020 and 1.56 per cent as on June 30, 2021.”

“Recovery from write off accounts improved to Rs 137 crore in Q2-2022 as against Rs 57 crore in Q2-2021. Recovery from write off account was Rs 331 crore in Q1-2022.”

In addition, the bank pointed out that as on September 30, 2021, it had Covid-19 related provisions of Rs 863 crore (other than provisions held for restructuring under Covid-19 norms).

“The provision made by the bank is more than minimum required as per the RBI guidelines,” it said.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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