IDFC First Bank Q1 net more than doubles to ₹1,075 crore
IDFC First Bank reported a significant increase in net profit for Q1 FY27, reaching ₹1,075 crore due to strong business momentum and improved asset quality. Despite the growth, the bank has set aside contingency provisions to account for macroeconomic and geopolitical uncertainties.
Why it matters
The bank's performance reflects broader trends in the Indian financial sector, balancing aggressive growth with prudent risk management.
IDFC First Bank’s first quarter (Q1) FY27 net profit more than doubled year-on-year (YoY) to ₹1,075 crore, supported by strong business momentum., improved asset quality and better cost management.
Net Interest Margin (NIM) improved to 5.96% in the quarter from 5.71% a year ago, up 25 bps basis points YoY.
Loans and advances increased 20.6% YoY to ₹ 3,05,370 crore, primarily driven by mortgage, vehicle, corporate and consumer loans the bank said.. Retail, agri and micro, small and medium enterprises book increased to ₹2,41,118 crore from ₹2,03,954 crore a year ago, up 18.2% YoY. Wholesale book increased to ₹ 64,252 crore from ₹49,279 crore a year ago, up 30% YoY.
Cost of funds eased by 46 bps YoY to 5.96%. in Q1FY27 . Customer deposits increased to ₹ 2,99,405 crore, a YoY growth of 16.6%.
The capital adequacy ratio was at 15.05% with CET-I ratio of 13.33%.
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