IDFC First Bank Reports Q2 Net Profit Surge to ₹1,044.6 Crore
IDFC First Bank's net profit for Q2 2026 nearly triples, marking significant growth in key financial metrics.
Net profit increased to ₹1,044.6 crore from ₹352.3 crore year-on-year.
Gross non-performing assets improved to 1.32%, down from 1.51%.
Total deposits rose by 25.9% to ₹3,48,583 crore.
IDFC First Bank has announced a remarkable increase in its net profit for the quarter ending September 30, 2026, reaching ₹1,044.6 crore, a substantial rise from ₹352.3 crore reported in the same quarter last year. This achievement marks the second consecutive quarter where the bank's profit after tax has surpassed the ₹1,000 crore mark, indicating a strong financial performance.
The bank's net interest income (NII) also saw a significant year-on-year growth of 21%, climbing to ₹6,184.5 crore compared to ₹5,112.6 crore in the previous year. Additionally, operating profit surged by 35% to ₹2,538 crore, up from ₹1,880 crore in the corresponding quarter of the previous year, reflecting robust operational efficiency and revenue generation.
In terms of asset quality, IDFC First Bank reported a decline in gross non-performing assets (GNPA) to 1.32%, down from 1.51% in the previous quarter. The net NPA also decreased to 0.40% from 0.44%, showcasing improvements in loan recovery and risk management. Provisions for the quarter remained stable at ₹1,137 crore, slightly lower than ₹1,451.8 crore from the same period last year, indicating a cautious yet optimistic approach towards potential loan defaults.
The bank's total deposits grew by 25.9% year-on-year, reaching ₹3,48,583 crore, while loans and advances increased by 30.1% to ₹3,46,913 crore. The Capital Adequacy Ratio (CAR) improved to 14.67%, up from 14.11% at the end of September 2025, reflecting a strong capital position and compliance with regulatory requirements. Notably, the bank mobilized ₹34,390 crore (approximately $3.6 billion) in FCNR(B) deposits during the quarter, despite lacking any branches or offices outside India.
In a separate announcement, IDFC First Bank's board approved the appointment of S. Ganesh Kumar as the Part-Time Non-Executive Chairperson, effective May 10, 2027, succeeding Sanjeeb Chaudhuri. The board also reappointed Pradeep Natarajan as Whole-Time Director for an additional three-year term starting June 1, 2027. These leadership changes are expected to guide the bank through its continued growth trajectory in the coming years.
