IDFC FIRST Bank has announced its unaudited financial results for the quarter and half-year ending 30 September 2026, showcasing a significant increase in profitability. The bank reported a Profit After Tax (PAT) of ₹1,045 crore for the second quarter of the fiscal year 2027, marking a 196.5% year-on-year increase. For the half-year ended 30 September 2026, PAT stood at ₹2,120 crore, with a Return on Assets (ROA) of 0.99%.
The bank’s financial performance was bolstered by robust deposit growth, with total deposits rising by 25.9% year-on-year and 11.8% quarter-on-quarter to reach ₹3,48,583 crore. The average Current Account and Savings Account (CASA) ratio remained strong at 48.4%, despite a slight decline from the previous quarter due to the mobilisation of Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits. Loans and advances, including credit substitutes and FCNR(B)-backed loans, grew by 30.1% year-on-year to ₹3,46,913 crore.
IDFC FIRST Bank also reported a core operating profit, excluding trading gains, of ₹2,527 crore for Q2 FY27, representing a 38.5% year-on-year increase. The bank’s cost-to-income ratio improved, with the incremental cost-to-income ratio recorded at 55% for the first half of FY27. Asset quality remained stable, with Gross Non-Performing Assets (GNPA) at 1.32% and Net NPA at 0.40%.
A notable achievement for the bank during the quarter was the mobilisation of ₹34,390 crore in FCNR(B) deposits, equivalent to approximately US$3.6 billion. This mobilisation, achieved without any international branches or offices, highlights the bank’s digital capabilities and customer trust. The deposits, mainly of 3-to-5-year tenor, are expected to provide strong structural liquidity in the coming years and are approximately 1% cheaper than raising domestic fixed deposits.
The bank also received its debut international rating from S&P Global Ratings, which assigned an investment-grade long-term rating of ‘BBB-‘. This rating reflects the bank’s strong financial position and operational capabilities.
Market analysts view IDFC FIRST Bank’s results positively, noting the strong growth in profitability and operational efficiency. The bank’s ability to mobilise significant FCNR(B) deposits is seen as a strategic advantage in managing liquidity and cost of funds. As the bank continues to expand its digital and customer-centric offerings, it is well-positioned to sustain its growth momentum in the competitive Indian banking sector.
