IDFC First Bank Q2 PAT rises 197% to ₹1,045 crore on lower provisions
IDFC First Bank reported a 197% increase in net profit for Q2, reaching ₹1,045 crore, driven by lower provisions and improved asset quality. The bank also successfully raised $500 million through its maiden global bond issuance.
Why it matters
Strong financial performance and successful international capital raising indicate robust growth and stability for the Indian banking sector.
IDFC First Bank Q2 PAT rises 197% to ₹1,045 crore on lower provisions left Asset quality indicators showed improvement The Hindu The Hindu https://th-i.thgim.com/public/incoming/wp5zgu/article71620733.ece/alternates/FREE_1200/IDFC-FIRST-BankG15GA5E4V.4.jpg.jpg Gerra Madhusudan 10751@Chennai The bank mobilised ₹34,390 crore in FCNR(B) deposits despite having no branch, subsidiary or representative office outside India. MUMBAI IDFC First Bank reported a 196.5% year-on-year (YoY) jump in net profit to ₹1,045 crore for the second quarter ended September 30, 2026, aided by lower provisions and an improvement in asset quality. Net interest income (NII) rose 21% YoY to ₹6,184 crore, while total deposits grew 25.9% to ₹3,48,583 crore. Loans and advances, including credit substitutes and FCNR(B)-backed loans, increased 30.1% to ₹3,46,913 crore. Excluding FCNR(B)-backed loans, credit growth stood at 22.2%. The bank’s total provisions declined to ₹1,137 crore during the quarter from ₹1,452 crore a year earlier, supporting profitability.
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