IDFC First Bank Limited — Credit Ratings, 01-10-2025: Credit Rating- New

CARE Ratings has reaffirmed IDFC FIRST Bank's long-term debt instruments at 'CARE AA+ / Stable'. This reflects improved operations, diversified advances, strengthening retail deposits, and adequate capitalisation from recent equity infusions (₹3,000 Cr, ₹3,200 Cr, ₹7,500 Cr). Profitability remains moderate due to high operating costs, and asset quality, particularly in microfinance, is a key monitorable.