IDFC First Bank announced July to September for fiscal 2027 on Saturday, October 24. The lender's net profit climbed 196.8% to Rs 1,045 crore in the second quarter of the current financial year from Rs 352 crore in the corresponding period previous year.
The bank's net interest income (NII) rose 21% to Rs 6,184 crore in the quarter from Rs 5,113 crore in the same quarter last year. Asset quality improved as gross NPA declined to 1.32% from 1.51% in the preceding quarter and net NPA dropped to 0.40% from 0.44% sequentially.
The lender's operating profit jumped 35% to Rs 2,539 crore in September quarter from Rs 1,889 crore in the corresponding period last year. Provisions slipped to Rs 1,137 crore in the period under review from Rs 1,452 crore in Q2FY26.
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IDFC First Bank's total deposits surged 25.9% YoY and 11.8% QoQ at Rs 3,48,583 crore. Current account and Savings account ratio stood at 48.4% in Q2 FY27. The slight decline from 50.1% was primarily due to the large mobilisation of FCNR(B) deposits during the quarter. Loans and advances, including credit substitutes and FCNR(B)-backed loans, grew 30.1% YoY to Rs 3,46,913 crore. Except loans secured by FCNR(B) deposits, loan growth was 22.2%, gross of IBPC. Incremental cost-to-income ratio stood at 55% in H1 FY27. The core cost-to-income ratio, excluding trading gains improved to 70.16% in Q2 FY27 from 70.73% in same quarter previous year.
Speaking on Q2 show, IDFC First Bank Managing Director and CEO V Vaidyanathan said, “Our PAT crossed Rs 1,000 crore for the second quarter in a row, in both Q1 and Q2 FY27. We are also now internationally rated, with an investment-grade. Our Opex growth has been lower than income growth by about 500 basis points for the second consecutive quarter, demonstrating strong operating leverage. Consequently, our cost-to-income ratio continues to decline, and our ROA is now within touching distance of 1%."
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