IDFC First Bank Limited — Updates, 26-10-2024: Press Release

IDFC FIRST Bank reported a Q2 FY25 net profit of ₹201 crore, down 73% YoY, mainly due to higher provisions totaling ₹568 crore. Customer deposits surged 32.4%, while loans and advances rose 21.5% YoY. The bank's gross NPA improved to 1.92%. Core operating profit grew 28% to ₹1,857 crore, reflecting strong operational performance despite challenges in the microfinance sector. The bank also raised ₹3,200 crore in equity capital and completed its merger with IDFC Ltd.