BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Geojit Research Report
In Q1 FY23, IDFC First Bank Ltd.'s net interest income reported growth of 26% on a YoY basis and 3% sequentially aided by business growth. Interest income grew by 20% YoY and 2.1% QoQ, while interest expense grew by 14% YoY/4% QoQ.
Reported net interest margin stood at 5.89% compared to 5.96% during the previous quarter. Cost of funds are expected to decline further in upcoming quarters as high cost legacy borrowings are being substituted with low cost deposits after its maturity.
As on Q1 FY23, the total high cost legacy borrowing stood at Rs 22,406 crore compared to Rs 27,936 crore in Q1 FY22.
IDFC First Bank's provision for the quarter stood at Rs 308.0 crore compared to Rs 369.4 crore, a sequential decline of 16.6%.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
