IDFC FIRST Bank: Quarterly Income and Business Overview
Results at a glance for Period ended on March 31, 2021:
IDFC FIRST Bank: Strong Strides across all the Strategic Priorities
a.
b.
C.
d.
e.
f.
3. Strong growth in Core Earnings:
Strong NII Growth: For the full year, the Total Net Interest Income increased by 21% to Rs. 7,380 crore in FY21 from Rs. 6,076 crore in FY20. NII
for Q4-FY21 grew by 15% YOY to Rs. 1,960 crore from Rs. 1,700 crore in Q4 FY20.
i. The NII in Q4-F21 includes the impact of Rs. 55 crore on account of interest on interest provision, following the order of the Honorable Supreme Court.
Strong NIM improvement: The NIM for the full year FY21 was at 4.98% as compared to 3.91% in FY20. Quarterly NIM has improved to 5.09% in
Q4 FY21 as compared to 4.61% in Q4 FY20.
Strong growth in Total Income (NII + Fees and Other Income+ Trading Gain): The total income for the full year increased by 24% to Rs. 10,207
crore in FY21 from Rs. 8,237 crore in FY20. Quarterly Total income grew 14% YOY to Rs. 2,801 crore in Q4 FY21 from Rs. 2,451 crore in Q4 FY20.
Core Pre-Provisioning Operating Profit (excluding Trading gains & impact of interest on interest reversal): For the full year, the Core PPOP grew
by 11% to Rs. 1,964 crore in FY21 from Rs. 1,764 crore in FY20. Quarterly Core PPOP de-grew by 1.5% YOY to Rs. 460 crore in Q4 FY21 as
compared to Core PPOP of Rs. 468 crore in Q4 FY20.
Provision: For the full year, Total Provisions stood at Rs. 2,638 crore in FY21 as compared to Rs. 4,754 crore in FY20. Quarterly provisions for Q4
FY21 was Rs. 603 crore as compared to Rs. 679 crore in Q4 FY20.
i.
Earlier, Capital First had portfolios like Loan Against Shares with ticket sizes above Rs. 20 lac and Loans with annual interest payments, which were
permitted for an NBFC but are not permitted for a Bank. On merger with the Bank, the dispensation was provided by the RBI for the said portfolio
which is no longer available. Because of the above, the Bank had to make one time provision of 100% to this outstanding portfolio amounting to Rs.
89 crore in Q4-FY21.
Profit After Tax: The Net Profit for the Full year FY21 was Rs. 452 crore as compared to loss of Rs. 2,864 crore in FY20. Quarterly Net Profit grew
by 79% YOY to Rs. 128 crore in Q4 FY21 from Rs. 72 crore in Q4 FY20. Without the impact as mentioned in a(i) and e(i), the Net Profit of the Bank
at the normalized tax rate, would be Rs. 140 crore for Q4-FY21 and Rs. 464 crore for FY21.
6
IDFC FIRST
BankView entire presentation