Wait, What? IDFC First Bank Spends 8% Of Profit Only On Printing And Stationary

At a time when banks are pushing customers to tap, scan and swipe their way through finance, it turns out some of them are still spending a hefty sum on good old pen and paper.

A set of FY25 cost disclosures by Groww on printing and stationery shows that large Indian banks spent hundreds of crores on forms, chequebooks, passbooks, statements and other paper-linked requirements.  In a post on X (formerly Twitter), Groww wrote, "How much do Banks spend on Pen & Paper? (Costs for FY25)"

In this stationery sweepstakes, IDFC First Bank spent Rs 122.7 crore on printing and stationery in FY25, amounting to 8.05% of its net profit, the highest proportion among major listed banks, according to data shared by Groww.

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The figure stands out sharply when compared with larger peers. State Bank of India spent rs 986.4 crore on printing and stationery, the highest in absolute terms, but that was only 1.22% of its net profit. HDFC Bank's expenditure stood at Rs 922.5 crore, or 1.26% of profit, while ICICI Bank spent Rs 318.5 crore, just 0.58%.

Among private lenders, IndusInd Bank also reported a relatively high ratio, with Rs 114.9 crore in printing and stationery costs accounting for 4.46% of net profit. Yes Bank and AU Small Finance Bank spent Rs 70 crore and Rs 58.3 crore, respectively, translating to 2.86% and 2.77% of profit.

For most large banks, such expenses remained below 1.5% of net profit. Axis Bank spent Rs 373.8 crore, or 1.33%, while Bank of Baroda, Punjab National Bank, Canara Bank and Union Bank of India reported ratios near or below 1%.

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