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Banks, Small Cap

IDFC FIRST Bank has allotted 6,05,941 equity shares under ESOS on 27 April 2026.

Normalised profit after tax for Q4 FY26, excluding one-time items, jumped 48.4% YoY to Rs 746 crore. The bank said it has fully recognised the financial impact of the Chandigarh incident in Q4 FY26, with a post-tax impact of Rs 483 crore, and does not expect further material adjustments.

The incident relates to a fraud detected in February 2026 at its Chandigarh branch involving unauthorised transactions in certain Haryana government-linked accounts, with an initial discrepancy of around Rs 590 crore. The issue was linked to alleged collusion by some employees and external entities and was confined to a specific set of accounts. The bank said it has completed reconciliation and settled claims, with no further discrepancies identified.

The bank reported a tax credit of Rs 129.64 crore in Q4 FY26, compared with a tax expense of Rs 132.50 crore in Q3 FY26 and Rs 57.06 crore in Q4 FY25, which partly cushioned the impact of one-off charges on reported profit.

Net interest income (NII), the difference between interest earned and interest expended, rose 15.7% YoY to Rs 5,677 crore in Q4 FY26 from Rs 4,907 crore in the year-ago period.

Core operating profit (excluding trading income) declined 7.8% YoY to Rs 1,492 crore, while net interest margin (NIM) stood at 5.93% in Q4 FY26, down 2 bps on a yearly basis but up 18 bps sequentially. The cost of funds improved to 6.00%, down 51 bps YoY and down 11 bps QoQ.

Asset quality improved during the quarter. Gross NPAs stood at Rs 4,558.52 crore as of March 2026, compared with Rs 4,614.14 crore in December 2025 and Rs 4,433.58 crore a year ago.

The gross NPA ratio declined to 1.61% as on March 2026 as against 1.69% as on December 2025 and 1.87% as on March 2025.

Net NPAs came in at 0.48%, improving from 0.53% in both the previous quarter and the same period last year. SMA 1 and 2 (retail, rural and MSME) also improved to 0.78%, indicating better early-stage asset quality trends.

Provisions and contingencies declined sharply by 40.07% YoY to Rs 869.24 crore. Provisions as a percentage of loans fell to 1.63% in Q4 FY26 from 2.05% in Q3 FY26, while provisions as a percentage of total assets declined to 1.18% in Q4 FY26 from 1.45% in Q3 FY26. The bank also utilised Rs 35 crore of contingency provisions on its microfinance portfolio during the quarter and carries forward Rs 130 crore into FY27.

On the business front, total customer deposits rose 17.3% YoY to Rs 2,84,453 crore. CASA deposits increased 24.0% YoY to Rs 1,46,650 crore, while the CASA ratio stood at 49.80%. Advances grew 20.0% YoY to Rs 2,90,278 crore, with 87% of loan growth driven by mortgages, vehicle loans, consumer loans, business banking and wholesale segments.

Total customer business increased 18.6% YoY to Rs 5,74,731 crore. The bank?s credit cards in force crossed 4.5 million during the quarter, while its wealth management business grew 23% YoY to over Rs 57,000 crore.

Capital adequacy ratio stood at 15.60% as of March 2026, remaining comfortably above regulatory requirements.

Commenting on the performance, MD and CEO V. Vaidyanathan said asset quality remains stable, with stress largely behind in the microfinance portfolio. He added that provisions have declined to the lowest level in two years and the bank has started FY27 on a strong footing in terms of deposit growth.

The board recommended a dividend of Rs 0.25 per equity share of face value of Rs 10 each for the Financial Year 2025-26.

IDFC FIRST Bank is one of India?s fast-growing private banks. As of 31 March 2026, it reached over 60,000 cities, towns, and villages, operate through 1,147 branches.

Net profit of IDFC First Bank rose 11.85% to Rs 330.64 crore in the quarter ended March 2026 as against Rs 295.60 crore during the previous quarter ended March 2025. Total Operating Income rose 12.11% to Rs 10552.74 crore in the quarter ended March 2026 as against Rs 9412.94 crore during the previous quarter ended March 2025.

For the full year,net profit rose 8.07% to Rs 1610.56 crore in the year ended March 2026 as against Rs 1490.35 crore during the previous year ended March 2025. Total Operating Income rose 11.09% to Rs 40548.82 crore in the year ended March 2026 as against Rs 36501.64 crore during the previous year ended March 2025.

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IDFC First Bank announced that the Board of Directors of the Company at its meeting held on 25 April 2026, inter alia, have recommended the final dividend of Rs 0.25 per equity Share (i.e. 2.5%) , subject to the approval of the shareholders.