IDFC First Bank – The News Desk

MUMBAI: IDFC First Bank has reported a net profit of Rs 751 crore for the quarter which ended in September 2023, representing a 35% increase over the Rs 556 crore it reported in the corresponding quarter of the previous year.Customer deposits increased by 44% year on year (YoY), rising from Rs 1,14,004 crore as of September 30, 2022, to Rs 1,64,726 crore as of September 30, 2023, while loans and advances grew by 26% YoY, moving from Rs 1,45,362 crore as of September 30, 2022, to Rs 1,83,236 crore as of September 30, 2023.IDFC First Bank attributed the increase in net profit to the growth in core operating income. The bank's Net Interest Income (NII) experienced a 32% year-on-year growth, advancing from Rs 3,002 crore in Q2-FY23 to Rs 3,950 crore in Q2-FY24. !(function(f, b, e, v, n, t, s)...

Interest earned by the bank improved to Rs 34,920 crore from Rs 26,033 crore in the September 2022 quarter | Photo: Bloomberg Private sector lender ICICI Bank on Saturday reported a 36 per cent rise in standalone net profit to Rs 10,261 crore for the September 2023 quarter, aided by an improvement in interest income. The Mumbai-based lender had posted a net profit of Rs 7,558 crore in the year-ago period. The total income in the second quarter of the current fiscal rose to Rs 40,697 crore from Rs 31,088 crore in the same period a year ago, ICICI Bank said in a regulatory filing. Interest earned by the bank improved to Rs 34,920 crore from Rs 26,033 crore in the September 2022 quarter. Its net interest income (NII) increased by 24 per cent year-on-year to...

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IDFC First Bank posts 35% quarter 2 profit

Net profit jumps 36% to Rs 10,261 cr, NII up 24%