IDFC First Bank Q2 FY27: Profit Crosses ₹1,000 Crore for Second Consecutive Quarter
IDFC First Bank reported Q2 FY27 profit after tax of ₹1,045 crore, up 196.5% YoY. Core profit also exceeded ₹1,000 crore. Deposits grew 25.9% YoY to ₹3.48 lakh crore, including ₹34,390 crore in FCNR(B) deposits. Loans grew 30.1% YoY to ₹3.47 lakh crore. The bank secured an investment-grade rating and raised USD 950 million in bonds.
The strong financial performance, successful international debt fundraising, and credit rating upgrade are significant positive developments that are likely to enhance investor confidence and positively impact the bank's market position and future growth prospects.
The bank reported strong year-on-year growth in profit, deposits, and loans. Key achievements include crossing the ₹1,000 crore profit mark for the second consecutive quarter, successful FCNR deposit mobilization, obtaining an investment-grade international rating, and a significant bond issuance. Asset quality also showed improvement.
IDFC First Bank Limited announced its financial results for the quarter and half-year ended September 30, 2026. The bank reported a profit after tax of ₹1,045 crore for the quarter, marking the second consecutive quarter with profits exceeding ₹1,000 crore. This represents a 196.5% year-on-year increase. The core profit, excluding one-off items like treasury gains, also crossed ₹1,000 crore, reaching ₹1,036 crore for the quarter.
Total deposits grew by 25.9% year-on-year to ₹3.48 lakh crore, with customer deposits crossing ₹3.4 lakh crore. The bank mobilized ₹34,390 crore (USD 3.6 billion) of FCNR (B) deposits under an RBI scheme, which constituted about 10% of its total deposits. Loan assets grew by 30.1% year-on-year to ₹3.47 lakh crore, including FCNR-backed loans. Excluding these, loan assets grew by 22.2% year-on-year to ₹3.29 lakh crore. The bank also obtained its debut international rating from S&P and CareEdge, achieving an investment-grade rating, and subsequently raised approximately USD 950 million in bonds from international investors.
Asset quality improved, with the gross NPA ratio decreasing by 19 basis points to 1.32% and the net NPA ratio improving by 4 basis points to 0.40%. The cost-to-income ratio improved sequentially to 70.2% and was 358 basis points lower year-on-year. The bank's capital adequacy ratio stood at 14.66%, with a CET1 ratio of 13.01%. The Liquidity Coverage Ratio (LCR) averaged 125% for the quarter, reaching 139% in September.
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