IDFC FIRST Bank reported a substantial 196.5% year-on-year increase in Profit After Tax (PAT) for the second quarter of FY27, reaching ₹1,045 crore. The bank also saw robust growth in total deposits (25.9% YoY) and loans (30.1% YoY). Notably, S&P Global Ratings assigned the bank an investment-grade long-term rating of ‘BBB-‘, highlighting improved financial standing and market trust.
IDFC FIRST Bank Reports Strong Q2 FY27 Financials
IDFC FIRST Bank today announced its unaudited financial results for the quarter and half year ended September 30, 2026. The Bank reported a Profit After Tax (PAT) of ₹1,045 crore for the second quarter of FY27, marking a significant 196.5% increase year-on-year. For the first half of FY27 (H1 FY27), the PAT stood at ₹2,120 crore, with a Return on Assets (ROA) of 0.99%.
Key Financial Highlights
The bank witnessed strong growth across key metrics:
- Deposit Growth: Total deposits grew by 25.9% YoY and 11.8% QoQ to ₹3,48,583 crore.
- Loan Growth: Loans and advances increased by 30.1% YoY to ₹3,46,913 crore. Excluding loans secured by FCNR(B) deposits, loan growth was 22.2%.
- Core Operating Profit: Grew by 38.5% YoY to ₹2,527 crore in Q2 FY27.
- Asset Quality: GNPA stood at 1.32% and Net NPA at 0.40%.
FCNR(B) Mobilisation and International Rating
During Q2 FY27, IDFC FIRST Bank successfully mobilised ₹34,390 crore (approximately US$3.6 billion) of FCNR(B) deposits. These deposits, with tenors of 3-to-5 years, provide structural liquidity and are cost-effective compared to domestic fixed deposits. Furthermore, S&P Global Ratings assigned the Bank an investment-grade long-term rating of ‘BBB-‘, signifying enhanced financial stability and market confidence.
Management Commentary
Mr. V. Vaidyanathan, MD and CEO, commented, “Our PAT crossed ₹1,000 crore for the second quarter in a row… We are also now internationally rated, with an investment-grade rating from S&P Global Ratings. Our Opex growth has been lower than income growth by about 500 basis points for the second consecutive quarter, demonstrating strong operating leverage.” He also highlighted the significance of the FCNR(B) deposit mobilisation, stating it provides structural liquidity and is valuable in the current interest-rate environment.
Source: BSE
