IDFC First Bank Q3 Review - Improving Business But Asset Quality Weak: Prabhudas Lilladher
Pedestrians wearing protective masks walk past an IDFC First Bank Ltd. branch on a near-empty street in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

IDFC First Bank Q3 Review - Improving Business But Asset Quality Weak: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

IDFC First Bank Ltd.’s earnings performance of Rs 1.30 billion (our estimate Rs 1.52 billion) was a miss on high provisioning this quarter, mainly on the back of pro-forma non-performing assets and higher opex which was offset by higher other income.

Pro-forma NPAs came in high at 4.2% and in retail at 3.9% which were on the higher side, although bank holds a Rs 21.6 billion of Covid-19 provision and should see gradual reduction in NPAs on recovery/write-off.

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Prabhudas Lilladher IDFC FIrst Bank Q3FY21 Result Update.pdf

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