IDFC First Bank's profit declines 29 pc YoY to Rs 453 crore in Q1

Mumbai, July 26 (IANS) IDFC First Bank's net profit for the first quarter of the current financial year (Q1 FY26) stood at Rs 453.47 crore, down 29 per cent year-on-year, the private sector bank said in an exchange filing on Saturday.

The private sector lender had posted a consolidated net profit of Rs 642.64 crore in the corresponding quarter a year earlier (Q1 FY25).

However, the bank recorded a significant jump of 53 per cent in its net profit quarter-on-quarter (QoQ) from Rs 295.60 crore in the preceding quarter (Q4 FY25).

Meanwhile, the private bank's Net Interest Income (NII) grew 5.1 per cent (on-year) from Rs 4,695 crore in Q1 FY25 to Rs 4,933 crore in Q1 FY26, as per filing.

The bank's total income for the quarter under review stood at Rs 11,869 crore, up from Rs 11,308.42 crore in Q4 FY25 and Rs 10,362.70 in the same period a year ago.

Retail Banking (Rs 12,760.49 crore) contributed the most in the private bank's revenue during the April-June quarter, followed by Treasury (Rs 7,374.51 crore), and Wholesale Banking (Rs 2,651.54 crore).

According to the filing, customer deposits increased 25.5 per cent YoY from Rs 2.04 lakh crore as in Q1 FY25 to Rs 2.56 lakh crore in Q1 FY26.

Loans and Advances increased by 21 per cent YoY to Rs 2.53 lakh crore from Rs 2.09 lakh crore in the corresponding quarter a year ago, driven by Mortgage loans, Vehicle loans, Business Banking, MSME loans and Wholesale loans, the bank said.

In the quarter ended last month, the gross non-performing asset (GNPA) of the Bank stood at 1.97 per cent as compared to 1.87 per cent in the preceding quarter. While net NPA stood at 0.55 per cent as compared to 0.53 per cent in Q4 FY25.

“We are pleased to share that our core franchise continues to grow well. In banking, Capital is the foundation, and Deposits are the raw material for our

business. With the impending equity raise, our capital adequacy will be at 17.6 per cent (if computed as of June 30, 2025)," said V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank.

With customer deposits growing at 25.5 per cent, our funding is strong. Our incremental Credit Deposit Ratio for the last 1 year is only 75.8 per cent, he added.

--IANS

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