IDFC First Bank Q1 net profit slumps 32% to ₹463 crore
Net interest margin (NIM) on AUM reduced by 24 bps QoQ, from 5.95% in Q4FY25 to 5.71% in Q1FY26, largely due to repo impact, asset mix change (including sharp decline in the micro-finance business) and decline in investment yields.
'On asset quality, all our businesses, other than microfinance continue to perform well, GNPA and NNPA are at 1.97% and 0.55%, respectively,' said MD and CEO V. Vaidyanathan.
'Our margins reduced because we passed on the benefit of repo rate to eligible borrowers and asset mix change, but term deposits broadly would take a year to reprice downwards,' he said.
'So, by H2FY26 margins is likely to be better. Also, by H2FY26, MFI issue should largely be behind us. Our customer franchise is strong. So, all-in-all, we are positioned well for the future,' he added.
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