IDFC First Bank Ltd (IDFCFIRSTB)

IDFC First Bank Receives RBI Approval for Key Appointments and Reports Financial Performance - 17 May, 2024

IDFC First Bank has received RBI approval for the appointment of Pradeep Natarajan as Whole Time Director and Executive Director. The bank reported a 10% decline in net profit for Q4 FY24 but saw an increase in PAT for FY24. Shares are trading slightly higher.

IDFC First Bank Reports Q4FY24 Results - 07 May, 2024

IDFC First Bank reports a decline in net profit but growth in NII and reduction in NPAs for Q4FY24. Shareholders earned a 13% CAGR over the last five years.

Private Banks Report NIM Decline in Q4 - 02 May, 2024

HDFC Bank, ICICI Bank, Yes Bank, IDFC Bank and RBL Bank have reported a decline in net interest margin (NIM) in the fourth quarter. The compression is driven by increased deposit rates and slight asset quality decline.

ICICI Direct Analysts Recommend Buying IDFC First Bank Ltd - 01 May, 2024

IDFC First Bank Ltd has been consolidating within the range of ₹74 to ₹85 over the past three months and is likely to see further momentum due to short covering. ICICI Direct analysts recommend buying at ₹ 85.4-85.8 with a target of ₹ 91 and a stop loss of ₹ 82.9.

IDFC First Bank Launches Sapphiro & Announces Credit Card Adjustments - 30 Apr, 2024

IDFC First Bank launches Sapphiro, a digital payment solution, in partnership with FIRST WINGS. Axis Securities recommends buying the stock with a target price of Rs 104. The bank announces credit card adjustments for utility bill payments.

IDFC First Bank Reports In-Line PAT in Q4FY24 - 29 Apr, 2024

IDFC First Bank reports in-line PAT of INR7.2b in 4QFY24, with estimated 30% earnings CAGR over FY24-26. CEO states bank may issue capital call in FY25 to raise capital. Shares drop nearly 6% after reporting 10% YoY decline in Q4FY24 net profit.

IDFC First Bank Reports Lower Net Profit Despite Improved Asset Quality - 28 Apr, 2024

IDFC First Bank reported a dip in Q4FY24 net profit by 9.8% YoY to Rs 724 crore due to higher provisions for bad loans. However, the bank saw an improvement in asset quality with GNPA and NNPA ratio moderating. The bank also reported a rise in NII and deposit growth outpacing credit growth.

IDFC First Bank's Q4 Profit Declines - 27 Apr, 2024

IDFC First Bank's Q4 FY24 net profit declined by 10% YoY due to a substantial rise in provisions. However, the bank reported a growth of 24% YoY in its Net Interest Income (NII). Gross NPAs fell to 1.88% from 2.51%, while net NPAs dropped to 0.60% from 0.86%. The capital adequacy ratio of the bank declined to 16.11% from 16.82%.

IDFC First Bank to Impose Surcharge on Utility Bill Payments - 26 Apr, 2024

IDFC First Bank will impose a 1% + GST surcharge on credit card payments for utility bills exceeding Rs 20,000. The FIRST Private Credit Card, LIC Classic Credit Card, and LIC Select Credit Card are exempt from the surcharge.

IDFC First Bank Predicts Lower Input Cost May Dampen GDP Growth - 25 Apr, 2024

IDFC First Bank's economist predicts that the support to companies' profit growth from lower input costs will wane and dampen GDP growth in FY25. Additionally, IDFC First Bank is set to post their results this week.

IDFC First Bank Stock Down Amidst Extra Charges Announcement - 19 Apr, 2024

IDFC First Bank's stock is down by 1.15% on the NSE as it announces an additional charge for credit card payments exceeding Rs 20,000 towards utility bills starting May 1, 2024.

IDFC First Bank Expects RBI to Defer Rate Easing Call - 18 Apr, 2024

IDFC First Bank expects the Reserve Bank of India (RBI) to defer its rate easing call, possibly until Q4 2024 due to a delay by the US Federal Reserve in reducing rates and strong economic growth. Escalated tensions in West Asia could also add to inflation risks.