- IDFC First Bank’s Q2 FY27 net profit rose 196.8% to Rs 1,045 crore year-on-year
- Net interest income increased 21% to Rs 6,184 crore compared to last year’s quarter
- Gross NPA improved to 1.32% and net NPA declined to 0.40% sequentially
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.
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%."
READ | IDFC First Bank: Shareholders Approve Raising Funds Via Issue Of Equity, Debt Securities
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