ICICI Direct: IDFC First Bank Q2 Review - Bright Prospects Intact
IDFC First Bank Nerul Branch (Photo: BloombergQuint) 

ICICI Direct: IDFC First Bank Q2 Review - Bright Prospects Intact

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

IDFC First Bank Ltd. posted decent results for Q2 FY21 with improvement in some operating parameters.

Overall loan growth remained flattish owing to rebalancing of the portfolio but long term prospects remain intact.

Net interest income increased 21.8% YoY, 2.1% QoQ to Rs 1660 crore on account of expansion in net interest margin, which increased 4 basis points QoQ, 114 basis points YoY to 4.57%.

Other income declined 51.7% YoY. This de-growth can be attributed to 19% drop in fee income due to lower loan origination as a result of low business activity due to pandemic.

Click on the attachment to read the full report:

ICICI Direct IDFC First Bank Q2FY21 Result Review.pdf

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