Idfc First Bank Ltd. · NSE:IDFCFIRSTB
Idfc First Bank — Q2 FY22 Earnings Presentation
83 slides from Idfc First Bank's earnings presentation, Oct 31, 2021
Slide 1: Exchange filing cover letter
IDFCFIRSTBANK/SD/217/2021-22 October 30, 2021 The Manager - Listing Department The Manager - Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C - 1, G - Block Phiroze Jeejeebhoy Towers Bandra-Kurla Complex, Bandra (East) Dalal Street, Fort Mumbai 400 0
Slide 2: IDFC FIRST Bank Q2 FY22 results
IDFC FIRST Bank Q2 FY22 results: Profit After Tax increased by 50% YOY at Rs. 152 Crore in Q2-FY22 Mumbai, October 30, 2021: Financial results at a glance The Board of Directors of IDFC FIRST Bank, in its meeting held today, approved the unaudited financial results for the quarter and the half year
Slide 3: Detailed note on business & financial performance
DETAILED NOTE ON BUSINESS & FINANCIAL PERFORMANCE OF THE BANK Earnings ▪ Net Interest Income (NII): Net Interest Income (NII) grew by 27% YOY to Rs. 2,272 crore in Q2 FY22, up from Rs. 1,784 crore in Q2 FY21. ▪ Net Interest Margin (NIM%): Net Interest Margin (quarterly annualized) of the Bank improv
Slide 4: Profitability and drivers
FY22 and hence the provisions for H2-FY22 are likely to be significantly lower than the provisions in H1-FY22. This excludes the impact of one well-known telecom account if any. ▪ Profitability: The net profit for Q2-FY22 grew by 50% to Rs. 152 crore from Rs. 101 crore in Q2 FY21, driven by growth i
Slide 5: Credit cards and path to profitability
already issued more than 400,000 credit cards since launch in January 2021. Our business is directly originated and we have yet not had to engage DSAs for our business. We expect this business to break even in due course. Loss from this business at this stage is around Rs. 75 Cr. per quarter at this
Slide 6: Customer deposits, branches and loans
▪ Customer Deposits increased by 21% to Rs. 83,889 crores as of September 30, 2021, as compared to Rs. 69,368 crore as of September 30, 2020. ▪ The Fixed Deposits of the Bank have the highest rating “FAAA/Stable (pronounced F Triple A) by CRISIL. ▪ Branch & ATM Network: As of September 30, 2021, the
Slide 7: Infrastructure financing and asset quality by segment
o Infrastructure financing (legacy run/off book) as % of overall funded assets has now reduced to just 8.6% of funded assets as on September 30, 2021, as compared to 11.7% as on September 30, 2020, and as compared to 21.7% at the time of merger. o Non-Infra Corporate Loans decreased by 14% YOY. We a
Slide 8: Infrastructure toll account and stress assets
outstanding reduced by Rs. 16 crore during the quarter to Rs. 838 crore as of Sep 30, 2021. Gradually the cash flows of this account are likely to regularize, as traffic volumes on the Mumbai road come back to normalcy. While the account is NPA as of now, we expect to collect our dues and expect eve
Slide 9: Collection efficiency and restructuring
o The Early Bucket Collection Efficiency in Rural Retail segment was impacted in Q1- FY22 but improved in Q2-FY22 to reach 98.96%, higher than the Pre-COVID level (Feb-20) of 98.81%. ▪ The Bank continued its support the customers affected by COVID by offering restructuring solution to the eligible c
Slide 10: Cautionary Statement
About IDFC FIRST Bank IDFC FIRST Bank was created by the merger of IDFC Bank and Capital First in December 2018. The Bank provides a range of financial solutions to individuals, small businesses and corporates. The Bank offers savings and current accounts, NRI accounts, salary accounts, demat accoun
Slide 11: Investor Presentation – Q2 FY22
Investor Presentation – Q2 FY22
Slide 12: Disclaimer
Disclaimer This presentation has been prepared by and is the sole responsibility of IDFC FIRST Bank (together with its subsidiaries, referred to as the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form
Slide 13: Bank At a Glance (as of 30 September 2021)
Bank At a Glance (as of 30 September 2021) Gross Retail Customer CASA Funded Assets (%) Deposits Ratio Assets ₹ 1,17,270 Cr 67%* ₹ 83,889 Cr 51.28% (64%) (50.86%) 10% (Y-o-Y) 21% (Y-o-Y) % of Gross Funded Assets % of Total Deposits Capital Rating GNPA % NIM% Adequacy Q2-FY22 4.27% Ratio (%) (4.61%)
Slide 14: Table of Contents
4 PROGRESS SINCE MERGER 7 MANAGEMENT COMMENTARY ON Q2-FY22 RESULTS CREATION OF IDFC FIRST BANK Table 15 of 24 VISION & MISSION OF IDFC FIRST BANK Contents 27 PRODUCT OFFERINGS 37 BUSINESS & FINANCIAL PERFORMANCE 63 BOARD OF DIRECTORS & KEY SHAREHOLDERS
Slide 15: Key Metrics and progress vs guidance at merger (liabilities)
Key Metrics and our progress vis-à-vis Guidance provided at the time of the merger in Dec 2018 Dec-18 Sep-21 Particulars Guidance for FY24-FY25 Status C (At Merger) Latest quarter A Net-worth Rs. 18,736 Cr -- Rs. 20,350 Cr P I CET – 1 Ratio 16.14% >12.5 % 14.85% On Track T A L Capital Adequacy (%) 1
Slide 16: Key Metrics and progress vs guidance at merger (assets and earnings)
Key Metrics and our progress vis-à-vis Guidance provided at the time of the merger in Dec 2018 Dec-18 Sep-21 Particulars Guidance for FY24-FY25 Status (At merger) Latest quarter Retail Funded Assets Rs. 36,236 Cr Rs. 100,000 Cr Rs. 78,048 Cr (30%^) On Track Retail as a % of Total Funded Assets 35% 7
Slide 17: Table of Contents
4 PROGRESS SINCE MERGER 7 MANAGEMENT COMMENTARY ON Q2-FY22 RESULTS CREATION OF IDFC FIRST BANK Table 15 of 24 VISION & MISSION OF IDFC FIRST BANK Contents 27 PRODUCT OFFERINGS 37 BUSINESS & FINANCIAL PERFORMANCE 63 BOARD OF DIRECTORS & KEY SHAREHOLDERS
Slide 18: Q2-FY22: Incremental liabilities driven by deposit growth
MANAGEMENT COMMENTARY ON Q2-FY22 results: Incremental Liabilities driven by growth in Deposits Q2-FY22 RESULTS Deposits: • The Branch Network of the Bank now stands at 599 branches, 720 ATMs (including 99 recyclers) across the country as on September 30, 2021. • CASA Deposits of the Bank increased b
Slide 19: Q2-FY22: Sustainable growth in retail assets
MANAGEMENT COMMENTARY ON Q2-FY22 results: Sustainable Growth in Retail Assets Q2-FY22 RESULTS Retail Assets: • The Retail Loan Book of the Bank increased 30% YoY to Rs. 78,048 crore as on September 30, 2021 from Rs. 59,860 crore as on September 30, 2020. Retail constitutes 70% of funded loan assets
Slide 20: Q2-FY22: Moderation in wholesale assets
MANAGEMENT COMMENTARY ON Q2-FY22 results: Moderation in Wholesale Assets Q2-FY22 RESULTS Wholesale Assets: • Wholesale funded book decreased by 16% YOY from Rs. 36,987 crore as on September 30, 2020 to Rs. 31,198 crore as on September 30, 2021. ✓ Corporate Loan constitutes Rs. 21,056 crore as on Sep
Slide 21: Q2-FY22: Asset quality parameters improved
MANAGEMENT COMMENTARY ON Q2-FY22 results: Asset Quality Parameters improved during the quarter Q2-FY22 RESULTS Asset Quality • Gross NPA of the Bank reduced from 4.61% as of June 30, 2021 to 4.27% as on September 30, 2021 • Net NPA of the Bank reduced from 2.32% as of June 30, 2021 to 2.09% as on Se
Slide 22: Q2-FY22: Asset quality parameters improved (cont.)
MANAGEMENT COMMENTARY ON Q2-FY22 results: Asset Quality Parameters improved during the quarter Q2-FY22 RESULTS Asset Quality • Infrastructure Financing Book: • Again, excluding the above-mentioned infrastructure account, the GNPA and NNPA for Infrastructure Financing book would have been 5.21% and 0
Slide 23: Q2-FY22: Profitability
MANAGEMENT COMMENTARY ON Q2-FY22 results: Profitability Q2-FY22 RESULTS Profitability • Net Interest Margin (quarterly annualized) of the Bank improved to 5.76% for Q2-FY22 from 4.91% in Q2-FY21 and 5.51% in Q1-FY22. The NIM expansion was primarily driven by the gradual improvement in the cost of fu
Slide 24: Impact of legacy liabilities, retail branches and credit cards
MANAGEMENT Q2-FY22 results: Impact of a. legacy liabilities, b. investment in Retail branches and COMMENTARY ON Q2-FY22 RESULTS c. credit cards • Legacy High Cost Borrowings to run off: The Bank is carrying Rs. 27,667 crore of legacy high cost borrowings which is currently dragging the P&L by around
Slide 25: Table of Contents
4 PROGRESS SINCE MERGER 7 MANAGEMENT COMMENTARY ON Q2-FY22 RESULTS CREATION OF IDFC FIRST BANK Table 15 of 24 VISION & MISSION OF IDFC FIRST BANK Contents 27 PRODUCT OFFERINGS 37 BUSINESS & FINANCIAL PERFORMANCE 63 BOARD OF DIRECTORS & KEY SHAREHOLDERS
Slide 26: The Creation of IDFC FIRST Bank
The Creation of IDFC FIRST Bank : Merger of erstwhile Capital First & Creation of IDFC FIRST Bank IDFC Bank IDFC FIRST Bank was created by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018. Prior to this IDFC First Bank was a premier infrastructure Financing Domestic
Slide 27: Background information of the two merging entities
Creation of IDFC FIRST Bank Background information of the two merging entities Erstwhile IDFC BANK Erstwhile CAPITAL FIRST LIMITED IDFC Limited was set up in 1997 with equity participation from the Mr Vaidyanathan had built ICICI Bank’s Retail Banking business Government of India, to finance infrast
Slide 28: Background of the two merging companies (contd.)
Creation of IDFC FIRST Bank Background information of the two merging companies.. Contd. Erstwhile IDFC BANK Erstwhile CAPITAL FIRST LIMITED … The bank was launched through this demerger from IDFC Limited in … He then turned around the company from losses of Rs. 30 crore and November 2015. During th
Slide 29: Erstwhile IDFC Bank pre-merger history and track record
Creation of IDFC Erstwhile IDFC Bank pre-merger history and track record FIRST Bank • IDFC raises Rs. 700 million in a second • IDFC incorporated in Chennai on the growth equity fund and Rs. 930 million in • IDFC Mutual Fund ranked 10th in the recommendation of the Expert Group on a new asset-class
Slide 30: Erstwhile Capital First pre-merger history and track record
Creation of IDFC FIRST Bank Erstwhile Capital First pre-merger history and track record Background AUM (Rs. Cr) Profit (Rs. Cr) Wholesale AUM Retail AUM Total AUM 32,623 327 26,997 Capital First was a successful NBFC, 239 19,824 206 growing its loan book and net profits at 16,041 114 166 11,975 a 5
Slide 31: Asset quality trends over the last decade
The asset quality trends over the last decade (including Pre-merger history) displayed Creation of IDFC below as a demonstration of our capabilities in this space. Further, our Bank is moving FIRST Bank to safer credit categories based on our lower cost of funds incrementally. We present below the a
Slide 32: Pre-merger proforma financials of IDFC Bank and Capital First
Pre merger - Proforma Financials of IDFC Bank and Capital First – Creation of IDFC FIRST Bank P&L (H1 FY19) Erstwhile IDFC Bank Erstwhile Capital First Proforma Total In Rs. Crore (H1 FY 19) (H1 FY 19) (H1 FY 19) Funded Assets / AUM 75,332 32,623 1,07,955 Net-Worth 14,776 2,928 17,704 NII 912 1,143
Slide 33: Since merger, building a strong foundation for long-term growth
Creation of IDFC Since merger, IDFC FIRST Bank as a merged entity, has been building FIRST Bank strong foundation for a long term growth engine In January 2018, Erstwhile IDFC Bank and Erstwhile Capital First announced a merger. Shareholders of Erstwhile Capital First were to be issued 13.9 shares o
Slide 34: Table of Contents
4 PROGRESS SINCE MERGER 7 MANAGEMENT COMMENTARY ON Q2-FY22 RESULTS CREATION OF IDFC FIRST BANK Table 15 of 24 VISION & MISSION OF IDFC FIRST BANK Contents 27 PRODUCT OFFERINGS 37 BUSINESS & FINANCIAL PERFORMANCE 63 BOARD OF DIRECTORS & KEY SHAREHOLDERS
Slide 35: Vision and Mission of IDFC FIRST Bank
Vision, Mission & Culture of the Bank Vision and Mission of IDFC FIRST Bank Our Vision: “To build a world class bank in India, Guided by ethics and customer first values, Powered by technology, And be a force for social good.” Our Mission: “We want to touch the lives of millions of Indians in a posi
Slide 36: Key Excerpts from MD & CEO's letter in Annual Report 2020-21
Vision, Mission & Culture of the Key Excerpts from MD & CEO’s letter in Annual Report 2020-21 Bank 26
Slide 37: Table of Contents
4 PROGRESS SINCE MERGER 7 MANAGEMENT COMMENTARY ON Q2-FY22 RESULTS CREATION OF IDFC FIRST BANK Table 15 of 24 VISION & MISSION OF IDFC FIRST BANK Contents 27 PRODUCT OFFERINGS 37 BUSINESS & FINANCIAL PERFORMANCE 63 BOARD OF DIRECTORS & KEY SHAREHOLDERS
Slide 38: Our key philosophy
Our key philosophy In all products we launch, we are driven about one thing: to deliver high quality products and services at affordable rates. Employees’ DNA are being coded to be sincere about working in the customer’s interest at all times. 28
Slide 39: Customer First
Key Value Driver for the Bank “Customer First” IDFC First Bank is extremely focused on Customer experience and Customer Service. We believe to build a bank where we can offer High Quality Banking at affordable rates to reach millions of customers is a great privilege of our lifetime. Being a new ban
Slide 40: Customer First Approach
Customer First Approach We have an unique approach to new and existing products and services, manifested in the many First’s to our credit viz., - Higher interest rates on savings - Monthly interest credits on savings accounts, - Higher spending limits and insurance cover on Debit Cards than the mar
Slide 41: Bank has wide bouquet of Consumer and MSME loans
Bank has wide bouquet of Consumer and MSME loans .. across varied customer segments including Consumers and MSMEs in different parts of India Prime Home Loans: Affordable Home Loans: Loan Against Property: New and Pre-owned Car Business Loans: Starting at 6.9% to select Prime Smaller ticket size hom
Slide 42: Comprehensive product suite on savings, current, payments and more
Comprehensive product suite on Savings, Current, Transaction services, Advisory, Payments, Fleet, Corporate solutions digitally. IDFC FIRST Bank provides wide range of Deposit facilities along with Savings Accounts, Deposit accounts, Wealth Management, Forex Services, Cash Management Services and In
Slide 43: Our Savings Account Proposition Highlights
Our Savings Account Proposition Highlights Monthly Interest credit on Savings account: India’s first large universal bank to offer this feature, a Customer First Interest up to 5% : This enables our customers to earn between 34% and 58% more with IDFC FIRST Bank Savings Account as compared to leadin
Slide 44: Key Features of the new App
Key Features of the new App - • Fast Payments with Beneficiary name validation • UPI with linkage to any Bank Account • Pay to Contacts • Google like Universal Search • ML based categorisation of transactions • Income and Expense Analyser for Cash flow analysis • Instant Online Loans (pre-approved)
Slide 45: 4+ Lac Credit Cards issued since January 2021 launch
Since Launch in Jan 2021, the Bank has issued 4+ Lac Credit Cards till Sept 30, 2021 A Credit Card, like no other Customer friendly card launched by the Bank, keeping in line with the ethos of always customer first. ✓ Since launch he Bank has issued 4+ Lac cards. ✓ QoQ Spends witnessed 45% growth. ✓
Slide 46: Festive offer on Credit Cards!
Festive offer on Credit Cards!
Slide 47: Table of Contents
4 PROGRESS SINCE MERGER 7 MANAGEMENT COMMENTARY ON Q2-FY22 RESULTS CREATION OF IDFC FIRST BANK Table 15 of 24 VISION & MISSION OF IDFC FIRST BANK Contents 27 PRODUCT OFFERINGS 37 BUSINESS & FINANCIAL PERFORMANCE 63 BOARD OF DIRECTORS & KEY SHAREHOLDERS
Slide 48: Business & Financial Performance of the Bank
BUSINESS & FINANCIAL PERFORMANCE OF THE BANK • Update on Liabilities • Assets Update • Asset Quality • Key Financial Parameters ✓ Income Statement ✓ Balance Sheet ✓ Capital Adequacy
Slide 49: Strong and well diversified liability franchise
Business & Financial The Bank now has a strong and well diversified liability franchise Performance CASA Deposits has grown by Rs. 40,995 crore since merger with As a result, the CASA Ratio (%) of the Bank has grown from 8.68% 1 in Rs. crore 2 (Dec-18) at merger to 51.28% (Sep-21) YoY growth of 53%
Slide 50: Granularization of customer deposits
Business & Financial Performance Granularization of the Customer Deposits through quality liability franchise As part of the granularization, the Bank decreased its Deposits Similarly, the Bank decreased Deposits with balance above Rs. 1 1 2 crore, as % of total customer deposits, from 82% (Mar-18)
Slide 51: Growth in retail deposits reduces dependence on wholesale
Business & Strong growth in retail deposits has reduced the dependence on wholesale Financial deposits and has provided greater stability. Performance In Rs. Crore Sep-20 Jun-21 Sep21 YOY% Legacy Long Term Bonds 10,331 7,645 7,588 -27% Legacy Infra Bonds 9,522 9,487 9,395 -1% Refinance 10,566 13,999
Slide 52: Long Term Borrowing Maturity as on September 30, 2021
Business & Financial Long Term Borrowing Maturity – Positions as on September 30, 2021 Performance Maturity In Rs. Cr As of Sep 30, 2021 RoI (%) Wtd. Res. Tenor (Yrs) Upto FY22 FY23 FY24 FY25 Beyond FY 25 Infra Bonds 9,395 0 1,466 1,411 5,581 937 8.87% 2.60 Long Term Legacy Bonds 7,588 855 0 1,710 1
Slide 53: Business & Financial Performance of the Bank
BUSINESS & FINANCIAL PERFORMANCE OF THE BANK • Update on Liabilities • Assets Update • Asset Quality • Key Financial Parameters ✓ Income Statement ✓ Balance Sheet ✓ Capital Adequacy
Slide 54: Strong and consistent growth in retail financing
Business & Financial Strong and consistent growth in retail financing over the last decade. Performance The bank has a rich history of 10 years of growing the retail loans book. Rs. 94 crores to ~ Rs. 36,000 crores in 10 years, and to Rs. 78,048 crores today. We have maintained stable growth, strong
Slide 55: Loan book diversified across more than 10 business lines
Business & Financial Loan book well diversified across more than 10 business lines Performance Dec-18 Sep-20 Sep-21 ECLGS Others ECLGS Others ECLGS Portfolio 2% Portfolio Others 1% Rural (JLG/KCC) Portfolio Rural 0% 3% 6% 12% 2% (JLG/KCC) Rural (JLG/KCC) Credit Card 12% Home Loan Home 9% 12% Home 0%
Slide 56: Reduced wholesale and infrastructure loan assets since merger
Business & The Bank reduced wholesale, infrastructure loan assets since merger; Top 10 Financial Performance borrowers’ concentration reduced. The non-infra corporate funded assets were reduced by 14% in Infrastructure financing (Rs crore) has reduced by 19% in the last year 1 in Rs. crore 2 in Rs.
Slide 57: Well Diversified business lines
Well Diversified business lines (Break up as % of exposure) Others Others LAP 7% LAP Infra 6% 12% Infra 14% 10% 9% HL 9% HL Corporate 10% 18% Consumer Loans 10% Consumer Loans Corporate Credit Card 12% 29% 1% SME Loans Other Retails 8% 4% Credit Card JLG/KCC 1% TW 6% SME Loans CV UCL Other Retails J
Slide 58: Funded Assets Breakup
Business & Financial Funded Assets Breakup Performance In Rs. Crore Sep-20 Jun-21 Sep-21 Growth% (YoY) Home Loans 8,267 10,919 12,107 46% Loan against Property 12,688 15,087 15,891 25% SME Loans 8,589 10,100 10,634 24% Wheels 9,184 10,169 10,274 12% Consumer Loans 11,480 13,843 14,564 27% Credit Car
Slide 59: Business & Financial Performance of the Bank
BUSINESS & FINANCIAL PERFORMANCE OF THE BANK • Update on Liabilities • Assets Update • Asset Quality • Key Financial Parameters ✓ Income Statement ✓ Balance Sheet ✓ Capital Adequacy
Slide 60: Asset Quality Trends: Bank level
MANAGEMENT Asset Quality Trends: The Bank is confident of asset quality returning to COMMENTARY ON pre-COVID levels of 2% and 1%. Q2-FY22 RESULTS GNPA NNPA Asset Quality - Bank • The Asset Quality of the Bank has 4.61% 4.27% improved for all its business segments 4.15% including retail loans, non-in
Slide 61: Asset Quality Trends - Retail Assets
MANAGEMENT COMMENTARY ON Asset Quality Trends - Retail Assets Q2-FY22 RESULTS GNPA NNPA Asset Quality - Retail 4.01% 3.86% • The lead indicators, including improvement in 3.45% cheque bounces on first presentation, collection efficiency, and recovery rates point to lower NPA and lower credit losses
Slide 62: Asset Quality Trends: Wholesale Asset Quality
MANAGEMENT COMMENTARY ON Asset Quality Trends: Wholesale Asset Quality Q2-FY22 RESULTS • Without one large legacy road infrastructure account (toll) which moved to NPA from SMA-2 in Q1-FY22, (which we expect to resolve in due course) the GNPA and NNPA for infrastructure finance would have been 5.21%
Slide 63: Asset Quality Trends: confident of improvement over coming quarters
MANAGEMENT Asset Quality Trends: The Bank is confident of improving asset quality COMMENTARY ON over coming quarters.. Contd.. Q2-FY22 RESULTS ➢ Q2-FY22 has witnessed better recovery pattern as compared to Q1-FY22 as most of geographies have been returning into normalcy in terms of business and oper
Slide 64: Future Asset Quality Indicators: quality of sourcing
Management Future Asset Quality Indicators: Key quality Indicators showing commentary on improvement which points to lower delinquency and credit losses in future. Q2-FY22 results Improved quality of Sourcing: New to Credit customers as % incremental Improved quality of Sourcing: Customers having Bu
Slide 65: Future Asset Quality Indicators: bounce rates and collection efficiency
Management Future Asset Quality Indicators: Key quality Indicators showing commentary on improvement which points to lower delinquency and credit losses in future. Q2-FY22 results Early Bucket cheque Bounce Rates (on Principal Outstanding) is Early Bucket Collection Efficiency (urban retail) in Sep,
Slide 66: Proactively identified stressed accounts
Business & The Bank has proactively identified the accounts, which are standard on the books as of Financial now, but are stressed or potential NPAs, and taken provisions for the same Performance O/S Client Description (Rs. Crore) Provision PCR% Comments Exposure Account suffers from delayed payment
Slide 67: Identified stressed assets pool reduced by 50%
Business & Identified Stressed Assets pool (apart from the declared NPAs) reduced by 50% from Rs. Financial 2,717 crores to Rs. 1,352 crore during the last one year. Provision Coverage at 67%. Performance 23% 47% 47% 50% 49% 52% 48% 51% 48% 67% 67% O/s Exposure Provision Provision coverage 4,138 3,8
Slide 68: Business & Financial Performance of the Bank
BUSINESS & FINANCIAL PERFORMANCE OF THE BANK • Update on Liabilities • Assets Update • Asset Quality • Key Financial Parameters ✓ Income Statement ✓ Balance Sheet ✓ Capital Adequacy
Slide 69: Quarterly Income Statement
Business & Financial Performance Quarterly Income Statement Growth (%) In Rs. Crore Q2 FY21 Q1 FY22 Q2 FY22 Y-o-Y Interest Income1 3,925 4,089 4,101 4% Interest Expense 2,141 1,905 1,828 -15% Net Interest Income 1,784 2,185 2,272 27% Fee & Other Income 291 449 658 126% Operating Income (Excl Trading
Slide 70: Half Yearly Income Statement
Business & Financial Performance Half Yearly Income Statement Growth (%) In Rs. Crore H1 FY21 H1 FY22 Y-o-Y Interest Income1 7,874 8,190 4% Interest Expense 4,346 3,733 -14% Net Interest Income 3,528 4,457 26% Fee & Other Income 440 1,107 152% Operating Income (Excl Trading Gain) 3,967 5,564 40% Tra
Slide 71: Balance Sheet
Business & Financial Performance Balance Sheet Growth (%) Growth (%) In Rs. Crore Sep-20 Jun-21 Sep-21 (Q-o-Q) (Y-o-Y) Shareholders' Funds 17,538 20,170 20,350 1% 16% Deposits 75,800 91,312 90,235 -1% 19% - Retail Deposits 49,610 65,811 64,140 -3% 29% - Wholesale Deposits (including CD) 26,190 25,50
Slide 72: Capital Adequacy Ratio is strong at 15.60%
Business & Financial Capital Adequacy Ratio is strong at 15.60% as on September 30, 2021 Performance In Rs. Crore Sep-20 Jun-21 Sep-21 Common Equity 17,146 19,460 19,606 Tier 2 Capital Funds 475 916 993 Total Capital Funds 17,621 20,376 20,600 Total RWA 1,19,659 130,946 1,32,057 CET 1 Ratio (%) 14.3
Slide 73: Table of Contents
4 PROGRESS SINCE MERGER 7 MANAGEMENT COMMENTARY ON Q2-FY22 RESULTS CREATION OF IDFC FIRST BANK Table 15 of 24 VISION & MISSION OF IDFC FIRST BANK Contents 27 PRODUCT OFFERINGS 37 BUSINESS & FINANCIAL PERFORMANCE 63 BOARD OF DIRECTORS & KEY SHAREHOLDERS
Slide 74: Board of Directors: MD & CEO Profile
Board of Directors & Key Board of Directors: MD & CEO Profile Shareholders With over two decades in financial services in India, V. Vaidyanathan has seen India through many lens – first as a banker (1990-2010, Citibank), then as an entrepreneur (2010-2019, Capital First) and a professional banker ag
Slide 75: Board of Directors
Board of Directors & Key Shareholders Board of Directors MR. SANJEEB CHAUDHURI – PART-TIME NON-EXECUTIVE CHAIRPERSON (INDEPENDENT DIRECTOR) Mr. Sanjeeb Chaudhuri is a Board member and Advisor to global organizations across Europe, the US and Asia. He has most recently been Regional Business Head for
Slide 76: Board of Directors
Board of Directors & Key Shareholders Board of Directors MR. PRAVIR VOHRA - INDEPENDENT DIRECTOR Mr. Pravir Vohra is a postgraduate in Economics from St. Stephen's College, University of Delhi & a Certified Associate of the Indian Institute of Bankers. He began his career in banking with SBI where h
Slide 77: Shareholding Pattern & Key Shareholders as of September 30, 2021
Board of Directors & Key Shareholding Pattern & Key Shareholders as of September 30, 2021 Shareholders Scrip Name : IDFC FIRST Bank (BSE: 539437, NSE:IDFCFIRSTB) Key Shareholders % Holding (through their respective various funds and affiliate companies wherever applicable) Other Body IDFC Financial
Slide 78: IDFC FIRST Bank
IDFC FIRST Bank ✓ Set for Growth. ✓ Set for Profitability. ✓ Set for Scale. ✓ Customer First. ✓ Digital. 68
Slide 79: Thank You
THANK YOU IDFC FIRST Bank
Slide 80: Annexure
Annexure Since the business model of Capital First is an important part of the business being built in the merged bank, the brief history and the progress of Capital First is being provided for ready reference to investors. 70
Slide 81: Successful Trajectory of Growth and Profits at Capital First
Business Model Successful Trajectory of Growth and Profits at Capital First of Capital First History of Capital First Limited The Company was first listed on Stock Exchanges in January 2008. Between 2010 to 2012, Mr Vaidyanathan acquired a stake in the company and executed a Management Buyout (MBO)
Slide 82: Successful Trajectory of Growth and Profits at Capital First
Successful Trajectory of Growth and Profits at Capital First. Business Model This page is an extract from Capital First investor Presentation of September 2018, which is the last quarter prior to merger. of Capital First Presented here to demonstrate the capability of the core loan book and the trac
Slide 83: Capital First: Return on Equity continuously improved
Capital First: the Return on Equity continuously improved over the quarters… Business Model This page is an extract from Capital First investor Presentation of September 2018, which is the last quarter prior to merger. Presented of Capital First here to demonstrate the capability of the core loan bo