IDFC First Bank Limited has informed the Exchange about Transcript
IDFCFIRSTB · price
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IDFC First Bank has filed the transcript of its Q4 FY25 earnings call held on April 26, 2025. Key financials: balance sheet grew 16% YoY to Rs 3.4 lakh crore, customer deposits rose 25% YoY to Rs 2.42 lakh crore with CASA ratio steady at ~47%, and funded assets grew 20.4% YoY. Asset quality remained stable with gross NPA at 1.87% (1.63% excluding microfinance) and net NPA at 0.53%. NIM moderated 9 bps QoQ to 5.95%, while full-year PAT fell to Rs 1,525 crore (Q4 PAT: Rs 304 crore) due to microfinance stress and credit cost normalisation. Full-year credit cost was 2.46% (1.76% ex-MFI). Capital adequacy stood strong at 15.48% (CET-1 13.17%), further bolstered by the recent Rs 7,500 crore CCPS issuance from marquee investors that will convert to equity, lifting pro-forma CRAR to 18.2%. Management guided FY26 loan growth of ~20%, deposits of 22-23%, opex growth of only 12-13%, and credit cost of 1.85-1.90%. Plans were announced to cut fixed deposit and savings account rates. Board recommended a 25 paise dividend.
Near-term NIM faces ~10 bps pressure from expected repo rate cuts and ongoing microfinance drag, but the Rs 7,500 crore capital raise and improving SMA trends in MFI provide growth runway and signal peak stress. Management's multi-year targets on ROE (7% → 15%) and cost-income ratio (towards 65% by FY27) offer medium-term re-rating potential, though near-term profitability recovery hinges on microfinance normalisation through FY26-27.