Read this story to learn about Q2- highlights, performance, earnings, dividend updates, market performance, etc.,
· The net profit for this quarter stood at ₹ 751 Cr · The NII of ₹ 3,950 Cr witnessed a rise of 32% YoY · Customer deposits saw an increase of 44% YoY stood at ₹1,64,726 Cr in Q2 FY’24
· The Net Interest Margin was 6.32% in Q2 FY’24 · ROA and ROE have improved to 1.16% and 11.03% · The Profit after tax (PAT) saw a massive surge of 35% YoY
In October 2023, the bank's credit rating was upgraded from CARE: AA (stable) to a stronger AA+ (stable).
4% YoY Deposit Growth, Stable Asset Quality at 1.53% Gross NPA, 0.52% Net NPA, Strong Profits of ₹1,516 Cr. Specialty Services in Retail, SME, and Rural Banking Excel.
Source: IDFC First Bank Financial Report – Q2 Report, BSE