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28-Jul-2024

IDFC First Bank

Healthy loan growth, high provisions hits bottomline


'IDFC First Bank has reported 11% decline in the net profit at Rs 680.65 crore for the quarter ended June 2024 (Q1FY2025). The bank has posted healthy 25% growth in net interest income (NII), while the core fee income of the bank also improved 19% in Q1FY2025. The Net Interest Margin (NIM) of the bank eased to 6.22% in Q1FY2025 compared to 6.33% in the corresponding quarter of previous year.

On business front, the bank as has posted 29% growth in business with strong 22% surge in loan book. The asset quality of the bank was stable in Q1FY2025. Bank has substantially reduced the credit to deposit ratio to 99.9% at end June 2024 from 111.1% at end June 2023. CASA ratio of the bank has improved to 46.6% at end June 2024 from 46.5% at end June 2023.

Asset quality stable: The bank has maintained stable asset quality in Q1FY2025.

The fresh slippages of loans stood at Rs 1657 crore in Q1FY2025 c...



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