IDFC FIRST Bank Reports Q2 FY27 PAT Of ₹1,045 Crore, Deposits Up 25.9%; Earns 'BBB-' Rating
· Free Press Journal
Mumbai: IDFC FIRST Bank announced its unaudited financial results on October 24, 2026, for the quarter and half year ended September 30, 2026. The bank's PAT for Q2 FY27 stood at ₹1,045 crore, marking its second consecutive quarter with PAT exceeding ₹1,000 crore.
Half Year Performance
For the first half of FY27, Profit After Tax was ₹2,120 crore. The bank's Return on Assets (ROA) for H1 FY27 stood at 0.99%.
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Total deposits grew 25.9% year-on-year and 11.8% quarter-on-quarter to reach ₹3,48,583 crore. Loans and advances, including credit substitutes and FCNR(B)-backed loans, increased by 30.1% year-on-year to ₹3,46,913 crore.
Asset Quality and Operating Profit
The bank reported a Gross Non-Performing Asset (GNPA) of 1.32% and a Net Non-Performing Asset (Net NPA) of 0.40%. Core operating profit, excluding trading gains, grew 38.5% year-on-year to ₹2,527 crore in Q2 FY27.
Cost Ratios
Operating expenditure growth remained lower than income growth by approximately 500 basis points year-on-year. The incremental cost-to-income ratio was 55% in H1 FY27, while the core cost-to-income ratio improved to 70.16% in Q2 FY27 from 70.73% in Q1 FY27.
FCNR(B) Mobilisation
During Q2 FY27, the bank mobilised ₹34,390 crore in FCNR(B) deposits, which are largely of 3-to-5-year tenor. This mobilisation is expected to benefit Net Interest Income (NII), PAT, Earnings Per Share (EPS), and Return on Equity (RoE).
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S&P Global Ratings assigned IDFC FIRST Bank an investment-grade long-term rating of 'BBB-'. V. Vaidyanathan, MD and CEO, said that the bank's ROA is now near 1%.
Customer Base and Network
As of September 30, 2026, the bank serves over 40 million customers. It operates through a network of approximately 1,200 branches and digital channels, reaching over 60,000 cities, towns, and villages.
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