IDFC First Bank progressing on its promises after performance lull

Reasonable improvement in deposit accretion and sharp increase in profitability are the key achievements in Sept quarter

After a prolonged period of underperformance operationally and at the bourses, things seem to be in the mend for IDFC First Bank. The September quarter (Q2) results throw up three developments to indicate the improvement – better mix of retail assets, sharp rise in deposits and an increase in profitability.
 
The share of wholesale loans fell from 87 per cent last year to 55 per cent in Q2, with exposure to this segment down by about Rs 10,000 crore. Also, the share of retail loans, which largely came from the merger with Capital First, rose to 45 per cent