IDFC FIRST Bank Q2 FY27 PAT Surges 196.5% YoY to ₹1,045 Crore; Receives 'BBB-' S&P Rating
IDFC First Bank reported Q2 FY27 PAT of ₹1,045 crore, up 196.5% YoY. H1 FY27 PAT was ₹2,120 crore. Total deposits grew 25.9% YoY to ₹3,48,583 crore, and loans grew 30.1% YoY to ₹3,46,913 crore. The bank mobilized ₹34,390 crore in FCNR(B) deposits and received an investment-grade 'BBB-' rating from S&P.
The substantial increase in profit, strong growth metrics, successful international rating, and strategic deposit mobilization are highly material events that are expected to positively influence investor confidence and the bank's market position.
The bank reported significant year-on-year growth in Profit After Tax, strong deposit and loan growth, stable asset quality, successful mobilization of foreign currency deposits, and secured an investment-grade international rating, all indicating positive financial performance and outlook.
IDFC First Bank Limited announced its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The Bank reported a Profit After Tax (PAT) of ₹1,045 crore for Q2 FY27, marking a significant year-on-year increase of 196.5%. For the half year ended September 30, 2026 (H1 FY27), the PAT stood at ₹2,120 crore, with a Return on Assets (ROA) of 0.99%.
The Bank witnessed strong deposit growth of 25.9% year-on-year and 11.8% quarter-on-quarter, reaching ₹3,48,583 crore. The average CASA ratio remained robust at 48.4% in Q2 FY27. Loans and advances grew by 30.1% year-on-year to ₹3,46,913 crore. Operating expenses grew slower than income by approximately 500 basis points year-on-year, contributing to an improving cost-to-income ratio. Core operating profit, excluding trading gains, increased by 38.5% year-on-year to ₹2,527 crore in Q2 FY27.
Asset quality remained stable with Gross Non-Performing Assets (GNPA) at 1.32% and Net NPA at 0.40%. The credit cost reduced to 1.01% of average assets. A notable achievement during the quarter was the mobilization of ₹34,390 crore (approximately US$3.6 billion) of FCNR(B) deposits, demonstrating the Bank's digital capabilities and customer trust. These deposits are expected to provide structural liquidity and are priced favorably compared to domestic deposits.
Furthermore, S&P Global Ratings assigned IDFC First Bank an investment-grade long-term rating of 'BBB-', marking its debut international rating. Mr. V. Vaidyanathan, MD and CEO, expressed optimism about the results, highlighting the consistent PAT growth, the new international rating, strong operating leverage, and the strategic benefit of FCNR(B) deposit mobilization in a rising interest rate environment. He noted that the Bank's ROA is nearing 1%.
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