IDFC FIRST Bank reported a significant decrease in its net profit for Q2 FY25, dropping 73% year-over-year to INR 201 crore, impacted by provisions primarily for its microfinance segment and a legacy toll account in Maharashtra. However, the bank’s operational strength remains visible as customer deposits grew by 32.4% YoY, reaching INR 218,026 crore. Retail […]
IDFC FIRST Bank has announced its financial results for the first quarter of FY25, highlighting a significant 30.2% increase in core operating profit year-on-year (YOY). Despite this impressive growth, the bank’s Profit After Tax (PAT) saw a decline due to increased provisions related to the Joint Liability Group (JLG) business, which was adversely impacted by […]
IDFC FIRST Bank, a leading financial institution in India, has reported a notable increase in its profit after tax (PAT) for the fiscal year ending March 31, 2024. The PAT grew by 21% year-over-year, rising from Rs. 2,437 crore in FY23 to Rs. 2,957 crore in FY24. This growth is even more pronounced at 28% […]
The Board of Directors of IDFC FIRST Bank has officially released its unaudited financial results for the quarter and nine months ending December 31, 2023, signaling robust growth and solid financial performance. The bank’s net profit saw an impressive 18% year-over-year increase, from Rs. 605 crore in Q3-FY23 to Rs. 716 crore in Q3-FY24. Significant […]
IDFC FIRST Bank, in partnership with LIC Cards and Mastercard, has announced the launch of an exclusive co-branded credit card, tailored to meet the dynamic financial needs of consumers across India. This new card, characterized by no joining & annual fees and competitive interest rates starting from 9% p.a., is designed to add value to […]
IDFC FIRST Bank, a leader in innovative banking solutions, has expanded its credit card offerings with the introduction of the FIRST SWYP Credit Card. Specifically designed for the Gen Z generation, this card is set to redefine the credit card experience, providing exciting lifestyle-related offers, EMI benefits, and unprecedented payment flexibility. Powered by Mastercard, the […]
IDFC FIRST Bank witnessed a robust 35% YoY growth in its Q2-FY24 net profit, rising from Rs. 556 crore in Q2-FY23 to an impressive Rs. 751 crore in Q2-FY24. This surge is primarily attributed to a substantial increase in the core operating income. Detailed insights reveal: Core Operating Profit soared by 38% YoY, reaching Rs. […]
IDFC FIRST Bank, in its recent Q1 FY24 financial report, revealed an impressive growth of 61% YoY in their Profit After Tax (PAT), which is up to Rs. 765 crore from Rs. 474 crore in Q1 FY23. The news came following the approval of the bank’s unaudited financial results by its board of directors. The […]
Indian banking company IDFC FIRST Bank, in partnership with Club Vistara, the the frequent flyer program of Vistara airline, and Mastercard, has announced the launch of a new travel credit card. This move underlines a joint commitment to offering enhanced value and advantages to customers. The co-branded credit card aims to enrich travel experiences, encouraging […]
The board of directors of IDFC FIRST Bank announced the approval of a scheme to amalgamate IDFC Limited with IDFC FIRST Bank at a meeting held today. The share exchange ratio for the merger will be 155 equity shares of IDFC FIRST Bank for every 100 equity shares of IDFC Limited, both with a face […]