IDFC First Bank reported a net profit of ₹1,075 crore for Q1FY27, up 132.2% from ₹463 crore in the same quarter last year. The bank announced its results for the quarter ended June 2026 on Saturday (July 25). The rise was driven by growth in net interest income and a decline in provisions.

Net interest income (NII) grew 21% year-on-year to ₹5,972 crore, compared with ₹4,933 crore a year earlier. The bank’s net interest margin (NIM) rose to 5.96% in Q1FY27, up 25 basis points from 5.71% in Q1FY26 and up 3 bps from the previous quarter.

Operating profit rises, assets quality improves

Provisions fell to ₹1,144 crore from ₹1,659 crore a year ago, though they were higher than the ₹869 crore reported in the March quarter. Operating profit rose 14% YoY to ₹2,553 crore, from ₹2,239 crore in the year-ago period.

Asset quality improved during the quarter. Net non-performing assets (NNPA) fell to 0.44%, down from 0.48% in the preceding quarter.

Total customer business, which includes loans and customer deposits, rose 18.6% YoY to ₹6,04,776 crore as of June 30, 2026, from ₹5,10,031 crore a year earlier. This was up 5.2% from the previous quarter.

Loans and advances, including credit substitutes, grew 20.6% YoY to ₹3,05,370 crore from ₹2,53,233 crore, and rose 5.2% sequentially. Growth was led by mortgages, vehicle loans, corporate loans and consumer loans.

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Customer deposits rise over 16%

The retail, agriculture and MSME (RAM) portfolio rose 18.2% YoY to ₹2,41,118 crore, up 3.8% QoQ. The wholesale loan book grew faster, rising 30.4% YoY and 11% QoQ to ₹64,252 crore.

Customer deposits rose 16.6% YoY to ₹2,99,405 crore as of June 30, 2026, up 5.3% from the previous quarter. CASA deposits grew 24.6% YoY and 8.1% QoQ to ₹1,58,492 crore. This took the CASA ratio to 50.8%, up from 48% a year earlier and 49.8% in the March quarter.