Economy
IDFC First Bank reports 197% profit surge to ₹1,045 crore
The Hindu2h
THE BRIEF
1
IDFC First Bank's net profit rose 197% year-on-year to ₹1,045 crore for the second quarter ending September 30, driven by lower provisions and improved asset quality.
2
Net interest income grew by 21% to ₹6,184 crore, while total deposits increased 25.9% to reach ₹3,48,583 crore during the same period.
3
Gross non-performing assets fell to ₹4,467 crore from ₹4,841 crore a year ago, supporting the bank's overall performance in the rising interest-rate environment.