IDFC First Bank Q4 Review - Treading Well On Long Term Transition Path: ICICI Direct
Indian rupee banknotes are counted in India. (Photographer: Dhiraj Singh/Bloomberg)

IDFC First Bank Q4 Review - Treading Well On Long Term Transition Path: 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 results with healthy business traction and stable asset quality.

The bank is well on course to achieve its long term objectives of improving retail mix, improving net interest margins and granularity on liability side.

Net interest income was up 15.3% YoY to Rs 1960 crore despite Rs 55 crore worth interest on interest reversals.

Net interest margins were up 4 basis points QoQ to 5.09%.

The bank has reduced savings interest rate to 4% for deposits below Rs 1 lakh and peak rates of 5%, which should keep funding cost benign and, thus, aid margins.

Click on the attachment to read the full report:

ICICI Direct IDFC First Bank Q4FY21 Result Update.pdf

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