IDFC First Bank's Q2 profit plummets 73%

IDFC First Bank's profit dropped 73% year-on-year to ₹201 crore in September 2024 due to a significant increase in provisions for its microfinance business. Provisions rose to ₹1,732 crore with microfinance and toll account impacts. Net interest income grew by 21% while microfinance's portfolio percentage reduced.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5Yspx4S
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