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, 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 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. […]
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 […]
IDFC FIRST Bank has reported a net profit of INR 281 crores in the third quarter of the fiscal year 2022 (Q3 FY22), a growth of 117% compared to INR 1,892 crores in the same quarter of the previous fiscal year. According to IDFC FIRST Bank, the Q3 FY22 net profit was fueled by robust […]