Key Metrics of IDFC FIRST Bank
About IDFC FIRST Bank
Outlets operated by IDFC First Bank.
Sectors
Company details
- Website
- idfcfirst.bank.in
- Registered office
- Krm Towers, 7th Floor, No 1, Harrington Road, Chetpet, Chennai, Chennai, In-tn, 600031
- Listed
- NSE: IDFCFIRSTB · ₹73.53
Operational Areas of IDFC FIRST Bank
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 29 Sep 2026 | CARE | Reaffirmed | AA+ | — | Stable | ₹940 Cr | View |
| 26 May 2026 | ICRA | Reaffirmed | AAA(SO) | — | — | ₹229 Cr | View |
| 15 May 2026 | ICRA | Reaffirmed | AA+ | — | Stable | ₹12,520 Cr | View |
| 04 Mar 2026 | CARE | Other | — | — | — | — | View |
| 30 Sep 2025 | CARE | Reaffirmed | AA+ | — | Stable | ₹1,242 Cr | View |
| 01 Oct 2024 | CARE | Reaffirmed | AA+ | — | Stable | ₹1,307 Cr | View |
| 03 Oct 2023 | CARE | Revised | — | — | Stable | ₹1,875 Cr | View |
| 12 Jul 2023 | CARE | Other | AA | — | Stable | ₹3,185 Cr | View |
| 04 Oct 2022 | CARE | Reaffirmed | AA | — | Stable | ₹6,370 Cr | View |
| 07 Jan 2022 | CARE | Other | AA | — | Stable | ₹9,394 Cr | View |
| 06 Oct 2021 | CARE | Other | — | — | — | — | View |
| 30 Oct 2020 | CARE | Other | — | — | — | — | View |
| 08 Oct 2020 | CARE | Revised (from AA+) | — | — | Negative | ₹5,833 Cr | View |
| 11 Oct 2019 | CARE | Reaffirmed | AA+ | A1+ | Negative | ₹20,554 Cr | View |
| 28 Mar 2019 | CARE | Assigned | AA+ | A1+ | Stable | ₹56,942 Cr | View |
Credit strengths (CARE, Sep 2026)
+ Comfortable capitalisation levels
IFBL has been maintaining comfortable capitalisation levels to support business growth and continues to maintain an adequate cushion to absorb credit costs. The bank has demonstrated its ability to raise capital, having raised equity of ₹2,196 crore in FY23, ₹3,000 crore in FY24, and ₹3,200 crore in FY25. The bank further raised ₹7,500 crore from affiliate company of Warburg Pincus and the subsidiary of private equity division of Abu Dhabi Investment Authority (ADIA) in Q2FY26, to support its gr
+ Diversified advances book with retail focus
Post the merger of IDFC Bank Limited and Capital First Limited (CFL) in December 2018, the bank has been diversifying its advances portfolio through sustained growth in retail lending while simultaneously targeting a calibrated increase in the corporate book to ~20% of total advances. The bank’s retail book has a diversified product mix including home loans, loan against property (LAP), small and medium enterprise (SME) loans, vehicle loans, consumer durable loans, credit cards, personal loans,
+ Healthy deposit growth supported by a healthy CASA franchise
IFBL has reported a healthy total deposit growth of 17% in FY26, with deposits rising from ₹2,52,065 crore in FY25 to ₹2,94,475 crore in FY26, and further to ₹3,11,892 crore as on June 30, 2026, with QoQ growth 5.9% and YoY growth of 17.8%. The CASA ratio increased to 50.82% as on June 30, 2026 (March 31, 2026: 49.80%), the highest among private banks, while retail customer deposits accounted for ~80% of total customer deposits, underscoring a strong granular liability base.
Credit challenges
− Moderate profitability due to high cost to income ratio
IFBL’s profitability remained subdued in FY26, with the ROTA moderating to 0.44% (FY25: 0.48%), which is relatively lower compared to other private banks. Earnings were impacted by a moderation in net interest margins (NIMs), due to sharp decrease in the relatively high-yielding microfinance portfolio after the MFI industry crisis, elevated operating expenses, and relatively high credit costs. NIM declined to 5.72% in FY26 from 6.05% in FY25, due to higher share of relatively lower-yielding secu
− Asset quality remains monitorable
While the bank's asset quality has improved, with GNPA ratio improving from 1.87% in FY25 to 1.61% in FY26 and stood at 1.51% in Q1FY27, and NNPA ratio improved from 0.53% in FY25 to 0.48% in FY26 and stood at 0.44% in Q1FY27, asset quality remains susceptible to stress in unsecured exposures in lower ticket size retail and MSME loans. The microfinance segment, which contributes 2.19% to loan book as on June 30, 2026, has seen an improvement, with GNPA
− Although the microfinance portfolio has witnessed a sharp improvement in asset quality, with GNPA reducing from 9.73% in
Q1FY26 to 3.61% in Q1FY27, the segment remains inherently vulnerable to external shocks and borrower cash-flow disruptions. While the bank has significantly reduced its exposure to the MFI segment to 2.19% of advances as on June 30, 2026,the segment continues to warrant close monitoring. The bank's provision coverage ratio (excluding technical write-offs) of 70.46% as on March 31, 2026, provides a reasonable buffer. The gross stressed assets to gross advances improved from 2.06% in FY25 to 1.73%
Could lead to an upgrade
Factors that could individually or collectively lead to positive rating actions/upgrade: • Sustained improvement in market share and resource profile with a higher share of retail deposits . • Improving operating performance and improving cost-to-income ratio.
Could lead to a downgrade
Factors that could individually or collectively lead to negative rating actions/downgrade: • Higher-than-expected deterioration in asset quality, with GNPA level increasing to above 5%. • Weakening in capitalisation levels with capital cushion over minimum regulatory requirement remaining less than 3.5% on a sustained basis. • Declining return on total assets (ROTA) below 1% on a sustained basis.
Agency-reported financials (ICRA, 26 May 2026)
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total income | ₹22,245 Cr | ₹25,968 Cr | ₹28,874 Cr |
| Profit after tax | ₹2,957 Cr | ₹1,525 Cr | ₹1,636 Cr |
| Total assets (Rs. lakh crore) | ₹3.00 Cr | ₹3.40 Cr | ₹4.00 Cr |
| Gross NPAs | 1.9% | 1.9% | 1.6% |
| CRAR | 16.1% | 15.5% | 15.6% |
| Revenue growth (YoY) | — | 16.7% | 11.2% |
| PAT margin | 13.3% | 5.9% | 5.7% |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term bank facilities | Working capital & bank lines | — | ₹692 Cr | — | AA+ (Stable) | Reaffirmed | CARE |
| Long-term instruments | Working capital & bank lines | — | ₹248 Cr | — | AA+ (Stable) | Reaffirmed | CARE |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| INE688I08053 | — | Debentures & bonds | 9.50% | — | — | ₹49.4 Cr | AA+ | Not stated |
| INE688I08178 | — | Debentures & bonds | 8.25% | — | — | ₹145 Cr | AA+ | Not stated |
| INE688I08186 | Complex Sep Dec | Debentures & bonds | 8.60% | — | — | ₹53.8 Cr | AA+ | Not stated |
| INE688I08079 | Non convertible debentures* | Debentures & bonds | — | 23 Sep 2014 | 23 Sep 2099 | — | — | Withdrawn |
| INE688I08152 | Complex | Debentures & bonds | — | 06 Jun 2016 | 06 Jun 2099 | — | — | Withdrawn |
| INE688I08061 | — | Debentures & bonds | — | 24 May 2013 | 24 May 2099 | ₹0 | — | Withdrawn |
| INE688I08046 | — | Debentures & bonds | — | 14 Mar 2013 | 14 Mar 2099 | ₹0 | — | Withdrawn |
| INE688I08038 | — | Debentures & bonds | — | 08 Mar 2013 | 08 Mar 2099 | ₹0 | — | Withdrawn |
| INE688I08145 | Complex | Debentures & bonds | — | 01 Mar 2016 | 01 Mar 2099 | — | — | Withdrawn |
| INE092T08DM3 | — | Debentures & bonds | — | 20 Sep 2016 | 18 Sep 2026 | — | — | Withdrawn |
| — | Non convertible debenturesINE T DM | Debentures & bonds | — | 20 Sep 2016 | 18 Sep 2026 | ₹25.0 Cr | AA | Matured |
| INE688I08160 | — | Debentures & bonds | — | 25 Jul 2016 | 24 Jul 2026 | — | — | Withdrawn |
| INE688I08129 | — | Debentures & bonds | — | 29 Dec 2015 | 29 Dec 2025 | — | — | Withdrawn |
| INE688I08111 | — | Debentures & bonds | — | 15 Dec 2015 | 15 Dec 2025 | — | — | Withdrawn |
| INE688I08103 | — | Debentures & bonds | — | 20 Nov 2015 | 20 Nov 2025 | — | — | Withdrawn |
| INE688I08095 | — | Debentures & bonds | — | 30 Oct 2015 | 30 Oct 2025 | — | — | Withdrawn |
| INE688I08087 | — | Debentures & bonds | — | 29 Sep 2015 | 29 Sep 2025 | — | — | Withdrawn |
| INE688I08202 | Non convertible debentures | Debentures & bonds | — | 07 Jun 2018 | 06 Jun 2025 | — | AA+ | Withdrawn |
| INE688I08194 | Non convertible debentures* | Debentures & bonds | — | 07 Jun 2018 | 07 Jun 2024 | — | — | Withdrawn |
| INE092T08EC2 | Non convertible debentures* | Debentures & bonds | — | 03 May 2017 | 03 May 2024 | — | — | Withdrawn |
| INE092T08EX8 | Non convertible debentures* | Debentures & bonds | — | 12 Dec 2018 | 12 Dec 2023 | — | AA+ | Withdrawn |
| INE092T08DG5 | — | Debentures & bonds | — | 19 Jul 2016 | 19 Jul 2023 | ₹0 | — | Withdrawn |
| INE092T08DD2 | — | Debentures & bonds | — | 13 Jun 2016 | 13 Jun 2023 | ₹0 | — | Withdrawn |
| INE092T08DB6 | — | Debentures & bonds | — | 31 May 2016 | 31 May 2023 | ₹0 | — | Withdrawn |
| INE092T08ES8 | — | Debentures & bonds | — | 04 May 2018 | 15 May 2023 | ₹0 | — | Withdrawn |
| INE688I08012 | — | Debentures & bonds | — | 28 Feb 2013 | 28 Feb 2023 | ₹0 | — | Withdrawn |
| INE688I08020 | — | Debentures & bonds | — | 28 Feb 2013 | 28 Feb 2023 | ₹0 | — | Withdrawn |
| INE092T08EW0 | — | Debentures & bonds | — | 12 Dec 2018 | 12 Dec 2022 | ₹0 | — | Withdrawn |
| INE092T08EN9 | — | Debentures & bonds | — | 08 Dec 2017 | 08 Dec 2022 | ₹0 | — | Withdrawn |
| INE092T08EU4 | — | Debentures & bonds | — | 29 Sep 2017 | 29 Sep 2022 | ₹0 | — | Withdrawn |
| INE092T08EK5 | Debentures Non Convertible Debentures | Debentures & bonds | — | 14 Jul 2017 | 14 Jul 2022 | ₹460 Cr | AA | Matured |
| INE092T08EJ7 | Debentures Non Convertible Debentures | Debentures & bonds | — | 27 Jun 2017 | 27 Jun 2022 | ₹50.0 Cr | AA | Matured |
| INE092T08EB4 | Debentures Non Convertible Debentures | Debentures & bonds | — | 03 May 2017 | 03 May 2022 | ₹180 Cr | AA | Matured |
| INE092T08DX0 | Debentures Non Convertible Debentures | Debentures & bonds | — | 05 Apr 2017 | 05 Apr 2022 | ₹300 Cr | AA | Matured |
| INE092T08DS0 | Debentures Non Convertible Debentures | Debentures & bonds | — | 21 Dec 2016 | 21 Dec 2021 | ₹100 Cr | AA | Matured |
| INE092T08EV2 | Debentures Non Convertible Debentures | Debentures & bonds | — | 12 Dec 2018 | 10 Dec 2021 | ₹349 Cr | AA | Matured |
| INE092T08DR2 | Debentures Non Convertible Debentures | Debentures & bonds | — | 28 Oct 2016 | 28 Oct 2021 | ₹20.0 Cr | AA | Matured |
| INE092T08DL5 | Debentures Non Convertible Debentures | Debentures & bonds | — | 20 Sep 2016 | 20 Sep 2021 | ₹15.0 Cr | AA | Matured |
| INE092T08DI1 | Debentures Non Convertible Debentures | Debentures & bonds | — | 15 Sep 2016 | 15 Sep 2021 | ₹20.0 Cr | AA | Matured |
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Perpetual Bonds | — | Withdrawn |
| Secured Long Term Borrowings | ₹940 Cr | CARE AA+; Stable |
| Short Term Borrowing | — | Withdrawn |
Credit assessment · Banks
Rating Methodology – Banks (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Instrument ratings
| Instrument | Type | Rated | Per criteria | Basis |
|---|---|---|---|---|
| Series A1 PTC | Securitisation (PTC) | AAA ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Bharat Series I Series A2 PTC | Securitisation (PTC) | AA+ ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Series A3 PTC | Securitisation (PTC) | A ICRA | Pool-specific | pool cash flows and credit enhancement (SO) |
| Basel III Tier II bonds | Basel III Tier II | AA+ ICRA | AA+ | senior − 0 |
| Infrastructure bonds | Infrastructure bonds | AA+ ICRA | AA+ | senior |
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | AAA(SO) · Structured obligation (internal) (ICRA, May 2026) |
| Next action stable or better (model) | 58% |
| Information on file | 67% · missing: Debt obligations and repayment schedule, Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 58% chance the next rating action is stable or better
- Current rating AA+ (investment grade)
What happened, step by step
- Oct 2020 — Rated term loans fell from ₹5,832.68 cr to ₹0 cr
- Oct 2021 — ₹2,000 cr raised through equity
“During FY21 (refers to period from April 01 to March 31), the bank raised equity capital of Rs.2,000 crore by way of preferential allotment of equity shares.”
Rated limits by facility
Timeline
From the report
The bank has demonstrated a consistent ability to raise capital, including a ₹7,500 crore equity infusion in Q2FY26, supporting business growth and maintaining comfortable capital ratios.
From the report
The bank has demonstrated its ability to raise capital, having raised equity of ₹2,196 crore in FY23, ₹3,000 crore in FY24, and ₹3,200 crore in FY25.
From the report
Even as the bank’s internal accruals remain modest, the regular raising of capital (latest capital raise of Rs. 7,500 crore in FY2026) helped it report a common equity tier I (CET I) ratio and a capital-to-risk weighted assets ratio (CRAR) of 13.73% and 15.60%, respectively, as on March 31, 2026, while growing its net advances by 20% YoY during the fiscal.
From the report
Key rating drivers and their description Credit strengths Comfortable capitalisation profile – IDFC First continues to enjoy comfortable capitalisation profile remains comfortable, despite the moderate level of internal accruals, supported by the capital raise of Rs. 7,500 crore in FY2026 (Rs. 13,400 crore during FY2021-FY2025).
From the report
The rating also considers adequate capitalisation levels supported by periodic equity infusions of ₹3,000 crore in FY24, ₹3,200 crore in FY25 and ₹7,500 crore through preferential issue in Q2FY26 to fund its asset growth.
From the report
The bank has demonstrated its ability to raise capital, having raised equity of ₹2,196 crore in FY23, ₹3,000 crore in FY24 and ₹3,200 crore in FY25.
From the report
The bank raised ₹7,500 crore from Warburg Pincus and the Abu Dhabi Investment Authority (ADIA) in Q2FY26 to support its growth and capitalisation.
From the report
Post capital raise of ₹7,500 crore and conversion to equity, CAR and Tier-I would improve from June 30, 2025 levels.
From the report
Rationale and key rating drivers Reaffirmation of the rating assigned to the long-term debt instruments of IDFC First Bank Limited (IDFC First) factors in comfortable capitalisation levels supported by periodic capital infusionwith the latest rounds of equity of ₹3,000 crore in the month of October 2023 and ₹3,200 crore in the month of July 2024 to fund its asset growth.
From the report
The bank raised ₹3,000 crore of equity capital through QIP in October 2023 and preferential issue of ₹3,200 crore in July 2024 and ₹1,500 crore of Tier-II bonds in FY24.
From the report
During FY23, the bank raised equity capital of ₹2,196 crore via preferential allotment of equity shares following the equity capital raise of ₹3,000 crore during FY22 via qualified institutional placement (QIP) of equity shares.
From the report
In addition, the bank also raised Tier II bonds of ₹1,500 crore each during Q1FY24, FY23 and FY22.
From the report
The bank maintained high quality liquid assets of₹42,336 crore as on quarter ended June 30,2023 as against ₹37,299 crore maintained for quarter ending March 31,2023. 3 CARE Ratings Ltd.
From the report
IDFC FIRST demonstrated its ability to raise capital and raised equity capital of ₹2,000 crore during FY21 and ₹3,000 crore during FY22 by way of qualified institutional placement (QIP) of equity shares.
From the report
In addition, the bank also raised ₹1,500 crore of Tier-II bonds during FY22.
From the report
During FY21 (refers to period from April 01 to March 31), the bank raised equity capital of Rs.2,000 crore by way of preferential allotment of equity shares.
From the report
During April, 2021, the bank raised additional equity capital of Rs.3,000 crore from marquee Foreign Institutional Investors (FIIs) and Domestic Financial Institutions (DIIs) by way of Qualified Institutional Placement (QIP) of equity shares.
From the report
Its daily average High-Quality Liquid Assets (HQLA) stood at Rs.31,731 crore and Rs.30,132 crore for quarter ended June 30, 2021 and March 31, 2021 .
From the report
The level of moratorium availed by the bank’s customers is at the 1 CARE Ratings Limited Press Release higher end within the Private Banks peer group.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of IDFC FIRST Bank
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 HDFC Bank |
Outlets operated by HDFC Bank. | hdfc.bank.in | 1994 | India |
 ICICI Bank |
Outlets operated by ICICI Bank. | icici.bank.in | — | India |
 State Bank of India |
Outlets operated by State Bank of India. | sbi.bank.in | 1955 | India |
| Outlets operated by Bank of Baroda. | bankofbaroda.bank.in | 1908 | India | |
 Axis Bank |
Outlets operated by Axis Bank. | axis.bank.in | 1990 | Ahmedabad, India |
 Punjab National Bank |
Outlets operated by punjab national bank. | pnb.bank.in | 1894 | India |
 Canara Bank |
Outlets operated by Canara Bank. | canarabank.com | 1906 | Mumbai, India |
 Union Bank of India |
Outlets operated by Union Bank of India. | unionbankofindia.bank.in | 1919 | India |
| Outlets operated by Bank of India. | bankofindia.bank.in | 1906 | Mumbai, India | |
| Outlets operated by Kotak Mahindra Bank. | kotak.bank.in | 1985 | Mumbai, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
financial sector
Filings
No filings on record yet.