Private sector lender IDFC Bank’s net profit rose 60 per cent ump to Rs.264.8 crore for the quarter ended June compared with Rs.165 crore in the previous quarter, due to higher operating income.
IDFC Bank, was converted into commercial bank from a non-banking finance company and started operations in October 2015, hence the numbers are not comparable on year-on-year basis.
The lender reported 25 per cent sequential growth in net interest income to Rs.515 crore while other income went up by 37 per cent to Rs.196.5 crore.
Bad loans recorded marginal decline during the quarter with gross non-performing asset ratio falling to 6.1 per cent and net NPA to 2.3 per cent.
The bank said its balance sheet size has crossed Rs.1 lakh crore.
