IDFC First Bank Q3 Review - Relative High Slippage; Business Momentum On Track: ICICI Direct
IDFC First Bank Nerul Branch (Photo: BloombergQuint) 

IDFC First Bank Q3 Review - Relative High Slippage; Business Momentum On Track: ICICI Direct

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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 Q3 FY21 results with improvement in operating parameters and sequential rise in loan growth.

On the asset quality front, there was little disappointment but long-term prospects remain intact.

Net interest income was up 13.7% YoY, 5.1% QoQ to Rs 1744 crore.

Net interest margins expanded QoQ by 8 basis points and 79 basis points YoY to 4.65% despite interest reversals due to non-performing assets, supported by sharp rise in current account savings account deposits.

Other income for the quarter jumped 31.1% YoY Rs 759 crore. Fee income increased 33% YoY to Rs 582 crore.

Click on the attachment to read the full report:

ICICI Direct IDFC First Bank Q3FY21 Result Update.pdf

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