New Delhi, Jan. 26 -- IDFC First Bank announced Q3FY25 earnings on January 25 (Saturday), reporting a sharp drop of 53 per cent in standalone net profit to Rs.339.4 crore, dragged by increased provisions due to higher loan slippages, compared to Rs.715.7 crore in the corresponding period last year.
The private sector lender was formed by merging the banking arm of project financer Infrastructure Development Finance Company (IDFC) and Capital First. The bank said its profit was impacted by reduced income from slowing down the disbursal of micro-finance (MF) loans, an increase in microfinance provisions, and the normalization of credit costs of non-MF businesses.
IDFC First Bank's net interest income (NII)-the difference between interest ...
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