IDFC First Bank Q4 Results: Net Profit at ₹724 Cr; NII Growth Recorded

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IDFC First Bank's Q4 results were announced on 26 April 2024, generating profitability in the bank’s numbers. The Bank was delighted to share Q4 FY24 profitability numbers with Net Profit standing at  ₹724 Crore. Furthermore, the Net Interest Income (NII) rose 24% from ₹3,597 Crore in Q4 FY23 to ₹4,469 Crore in Q4 FY24. In exceptionally good yearly results, at the end of Q4 FY 24, the Bank had a Total Deposits YoY growth of a staggering 38.7%, not to mention a CASA Ratio of 47.2%. Continuing its growth momentum, there was an increase in loans and advances and there were improvements in Asset Quality with GNPA and NNPA enhanced by 16 bps and 8 bps, respectively, on a QoQ basis.


By now several people have heard of IDFC First Bank and will be interested to know about IDFC First Bank’s results for the fourth quarter of FY2023-24. The Bank has provided its customers and potential interested parties with promising quarterly results, and even better yearly results. For starters, it has crossed a landmark of ₹4,00,000 Crore figure of Total Deposits and Advances (including credit substitutes). The major feature of the Bank’s Q4 FY24 and FY24 results is that its Asset Quality has sustained itself with an all-time best GNPA and NNPA at 1.88% and 0.6%, respectively, with the NNPA being the lowest in the history of the Bank’s operations. 

Explore: Idfc First Bank Limited Share Price

5 Key Financial Highlights

Showing stability in its parameters of Asset Quality, IDFC First Bank’s result represents its robust operational structure and its rise to meet the competition proficiently. Here are 5 of the most relevant highlights of the Bank’s Q4 results:

  • The Bank reported its Net Profit at ₹724 Crore as compared Rs. 803 crore in Q4 FY23.
  • Net Interest Income (NII) grew by 24% from ₹3,597 Crore in Q4 FY23 to ₹4,469 Crore in Q4 FY24. 
  • Fee and Other Income grew by 36% from ₹1,181 Crore in Q4 FY23 to  ₹1,610 Crore in Q4 FY24. 
  • Core PPOP (Pre-Provisioning Operating Profit excluding Trading Gain) for the quarter grew by 22% from ₹1,342 Crore in Q4 FY23 to ₹1,632 Crore in Q4 FY24.
  • Provisions went up by 50% from ₹482 Crore in Q4 FY23 to ₹722 Crore in Q4 FY24.

Additional Read: 129 Indian Companies to Release Q4 Results

The Bank’s Strength

As mentioned by its leadership, IDFC First Bank has, as its core strength, its deposit-raising franchise. The Bank’s CASA ratio is one of the best in the Banking industry and stands at around 47%. Furthermore, the Bank’s CD (Credit-to-Deposit Ratio) for FY24 is at 76%. This has been a phenomenal decrease of 98.4%, falling below 100% for the very first time with more decline expected going into FY25.  

Solid Capabilities

IDFC First Bank’s Q4 and FY24 performance stresses how the Bank has managed to steer itself into profitability, in an exceptional attempt to compete with strong players in the Banking sector. Here are some highlights of the Bank’s major capabilities as featured in its result report: 

  • Despite the Bank reducing interest rates to just 3% on savings accounts (for balances up to ₹1 lakh), the Bank’s CASA deposits continued their strong growth trajectory at 32% YoY.
  • The Average Daily Balance CASA deposits for the Bank grew by 28% YoY 
  • As of 31 March 2024, the Capital Adequacy Ratio is robust at 16.11%. 
  • The Bank’s Total Assets were clocked at  ₹2,96,115 Crore, a YoY growth of 23.4%. 

Additional ReadQuarterly Results

Major Financial Metrics - Consolidated Q4 (FY2023-24) Financial Results (Income Statement) of IDFC First Bank (in ₹ Crore)


Q4 FY23

Q3 FY24

Q4 FY24

YoY Growth % 

Net Interest Income (NII)





Operating Income





Operating Income (Excl. Trading Gains)





Operating Profit (PPOP)





Operating Profit (Excl. Trading Gains)





Profit Before Tax





Profit After Tax





IDFC First Bank Q4 Results - What Lies Ahead?

In an evolving and dynamic Banking sector that exemplifies the Indian Banking Sector at large, IDFC First Bank's Q4 results and FY24 results are exceptional. From small beginnings, the Bank has grown into something of a contender, if not now, then potentially for the future in the Indian Banking sector. With positive figures like the 21% growth in PAT, standing at ₹2957 Crore in FY 24, and more importantly, the core PPOP (Excl. Trading Gain) growing 31% YoY to leap beyond ₹6,000 Crore in the Bank’s history of business, the Bank has witnessed many firsts in its prospects for success. 

Additional Read: Annual Results


In its Q4 results and FY2024 results, IDFC First Bank has portrayed its ability to rise to scale and bring strong profitability to its table of business. This is what sees the Bank in good stead for FY2025, and it looks forward to the next financial year with confidence. With an upgrade in its credit ratings (Crisil, Care, and ICRA from AA to AA+), the Bank is set to march forward with a positive chip on its shoulder marking its resilience to stay afloat in a competitive industry and show excellence in business along with care for its dedicated customer base.

Results for the Fourth Quarter and Full Year Ended March 31, 2024


IDFC First Bank Press Release on BSE

IDFC First Bank Investor Presentation on BSE

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Frequently Asked Questions

What was the IDFC First Bank EPS for FY2024?

Answer Field

The basic EPS for FY2024 for IDFC First Bank was ₹4.18.

Was there NII growth reported in IDFC First Bank’s Q4 results?

Answer Field

Yes, the Bank’s Net Interest Income (NII) grew by 24% from ₹3,597 Crore in Q4 FY23 to ₹4,469 Crore in Q4 FY24.

What was the Bank’s PAT as reported in its Q4 results?

Answer Field

In IDFC First Bank Q4 results, the PAT was clocked at ₹724 Crore.

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