Idfc First Bank Ltd. · NSE:IDFCFIRSTB
Idfc First Bank — Q4 FY25 Earnings Presentation
98 slides from Idfc First Bank's earnings presentation, April 2025
Slide 1: Investor Presentation – Q4 FY25
Investor Presentation – Q4 FY25
Slide 2: Our Vision
IDFC FIRST Bank Our Vision TO BUILD A WORLD CLASS BANK IN INDIA, GUIDED BY ~~ ETHICS, 9 POWERED BY ~.> TECHNOLOGY, AND BE A FORCE FOR Safe SOCIAL GOOD @
Slide 3: Key Highlights of FY25
Key Highlights of FY25 • Strong growth of 25.2% YoY in Customer Deposits to reach US$ 28,534 Mn. Deposits • 26.4% YoY growth in Retail Deposits to reach US$ 22,502 Mn. • Strong growth of 24.8% YoY in CASA deposits • Total Loan Book grew 20.4% YoY to US$ 28,462 Mn. Loans & • Retail, Rural and MSME Lo
Slide 4: Key Highlights of FY25
Key Highlights of FY25 • Provisions for FY25 stood at US$ 649 Mn. (2.46% of loan book) primarily driven because of the higher provisioning in the microfinance book • Excluding microfinance and one legacy infrastructure toll account, the credit cost for FY25 was at 1.76%, for Q4-FY25 it has improved
Slide 5: Table of Contents
1 Building a Universal Bank 5 2 Deposits and Borrowings 13 3 Diversified Loan Portfolio 25 4 Robust Risk Framework 32 TABLE 5 Microfinance Business 47 OF 6 Digital Capabilities 52 CONTENTS 7 Profitability & Capital 59 8 Credit Rating 75 9 Board of Directors 77 10 Progress on ESG 80 11 Awards & Recog
Slide 6: IDFC FIRST Bank created by merger of IDFC Bank and Capital First
Section 1: Building a Universal Bank IDFC FIRST Bank was created by merger of IDFC Bank and Capital First in December 2018 • IDFC FIRST Bank was created by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018. • Erstwhile IDFC Bank started its operation as a Bank after
Slide 7: Progress since merger: balance sheet and profitability
Section 1: Building a Universal Bank IDFC FIRST Bank was created by merger of IDFC Bank and Capital First in December 2018 In US$ Mn. IDFC FIRST Bank, IDFC FIRST Bank Change Parameters Erst. CAPITAL FIRST Erst. IDFC Bank (30-Sep-2018) (30-Sep-2018) (on merger) (now) Since (31-Dec-2018) (31-Mar-2025)
Slide 8: Key initiatives and building blocks since merger
Section 1: Building a Universal Bank Post merger, the Bank undertook key initiatives to address the challenges and create necessary building blocks for future growth over the last 6 years.. We are happy to share that IDFC FIRST Bank has made significant progress on all counts during the last 6 years
Slide 9: Bank has launched and scaled up many new products
Section 1: Building a Universal Bank Bank has launched and scaled up many new products From FY19 onwards, the Bank Some of the Key New Products Launched Post-Merger Current Accounts Variants launched a number of products in the areas of loans, Agri / Farmer Loans deposits, fee-based products Forex S
Slide 10: Full suite of Universal Banking Products
Section 1: Building a Universal Bank The Bank now has built a full Suite of Universal Banking Products.. Corporate Lending Retail Lending Solutions Working Capital demand Loans, Cash Credit, Term Home Loans, vehicle Loans, Consumer Loans, Education Loans, Personal Loans, Corporate Bonds / NCDs, Fore
Slide 11: Strong franchise of 36 M customers
Section 1: Building a Universal Bank Bank has built a strong franchise of 36 M customers Total Unique Customers Credit Cards in Force 35.5Mn 3.5M 9.3Mn - Mar-19 Mar-25 Mar-19 Mar-25 NRI Customers Wealth Management Customers 2,30,000 98,310 3,641 5,500 Mar-19 Mar-25 Mar-19 Mar-25 1. Credit Cards busi
Slide 12: Expanding customer franchise in SME & Corporate Banking
Section 1: Building a Universal Bank Expanding customer franchise in SME & Corporate Banking Start-up Banking Customers Business Banking Customers 9,448 25,389 1,732 - Mar-19 Mar-25 Mar-19 Mar-25 FASTag Customers 16.2Mn CMS Relationships 3,545 1,153 0.1Mn Mar-19 Mar-25 Mar-19 Mar-25 11
Slide 13: Bank has set-up 1,002 branches across India
Section 1: Building a Universal Bank Bank has set-up 1,002 branches across India • IDFC FIRST Bank Branches and ATMs are spacious, digitally equipped, and customer friendly staff. • The Bank intends to grow the branch network by 10% each year in near term. • Bank grew its branch network 5X from 206
Slide 14: Section 2: Deposits and Borrowings
Section 2: Deposits and Borrowings
Slide 15: Strong growth in Customer Deposits
Section 2: Deposits & Borrowings Strong growth in Customer Deposits, YoY growth of 25% In US$ Mn. Customer Deposits 28,535 Mar-25 vs Mar-24 US$ 5,740 Mn. 25.2% Mar-25 vs Dec-24 US$ 1,792 Mn. 6.7% 22,794 16,095 10,966 9,732 6,790 4,524 4,765 Dec-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 14
Slide 16: Strong growth in Retail Deposits
Section 2: Deposits & Borrowings Strong growth in Retail Deposits, YoY growth of 26% In US$ Mn. Retail Deposits Mar-25 vs Mar-24 US$ 4,697 Mn. 26.4% 22,502 Mar-25 vs Dec-24 US$ 1,237 Mn. 5.8% 17,805 12,220 8,004 7,517 3,991 1,224 1,555 Dec-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 15
Slide 17: Strong growth in CASA Deposits
Section 2: Deposits & Borrowings Strong growth in CASA Deposits, YoY growth of 25% In US$ Mn. CASA Deposits Mar-25 vs Mar-24 US$ 2,761 Mn. 24.8% 13,910 Mar-25 vs Dec-24 US$ 607 Mn. 4.6% 11,149 8,469 6,020 5,400 2,431 620 929 Dec-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 16
Slide 18: CASA Ratio Stable at ~47%
Section 2: Deposits & Borrowings CASA Ratio Stable at ~47% CASA Ratio as of 31st December 2024 was 47.7% 51.7% 49.8% 48.4% 47.2% 46.9% 31.9% 11.4% 8.7% Dec-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 17
Slide 19: Highly diversified liabilities base with 79% retail deposits
Section 2: Deposits & Borrowings Bank has a highly diversified liabilities base with 79% Retail Customer Deposits • It is a strategic priority of the Bank to diversify the deposits by raising retail deposits. • Retail Deposit customers get used to transactions, id, passwords, RMs, branch services, a
Slide 20: Deposits & Borrowings Details
Section 2: Deposits & Borrowings Deposits & Borrowings Details Particulars (in US$ Mn.) Mar-24 Dec-24 Mar-25 YoY Growth Legacy Long Term & Infrastructure Bonds 1,192 714 496 -58.4% Refinance & Other Borrowings 2,260 3,097 2,759 22.1% Tier II Bonds 529 529 529 0.0% Total Borrowings (A) 3,982 4,340 3,
Slide 21: Bank has reduced Cost of Funds by 132 bps
Section 2: Deposits & Borrowings Bank has reduced Cost of Funds by 132 bps since merger Cost of Funds 7.80% • The Cost of Funds of the Bank reduced from 7.80% at 6.48% merger to 6.48%, a reduction of 132 bps which demonstrates the Bank’s ability to raise low-cost deposit at scale. • Cost of Funds fo
Slide 22: Retail Deposits and CASA used to wind down borrowings
Section 2: Deposits & Borrowings The Bank has raised Retail Deposits and CASA to wind down Borrowings and Certificate of Deposits Composition of Total Deposits & Borrowings* US$ 33,439 Mn. • Borrowing and Certificate of Deposits together as % of total 42% deposits & Borrowings has reduced from 67% d
Slide 23: Reliance on borrowings has declined meaningfully
Section 2: Deposits & Borrowings Reliance on borrowings has declined meaningfully, completing the liability side transformation Borrowings (Excluding Money Market) as a % of total Deposits & Borrowings 48% 44% 44% 31% 27% 22% 14% 11% Dec-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 22
Slide 24: Run down of legacy high-cost long-term borrowings
Section 2: Deposits & Borrowings Bank continues to run down the Legacy high-cost long-term borrowings In US$ Mn. • Because we have a DFI background, the legacy borrowings are costing the bank 8.76%. The Bank plans to replace this with low- cost deposits. Maturity of Legacy Borrowings FY26 US$ 529 Mn
Slide 25: Credit Deposit Ratio reduced from 137% to below 94%
Section 2: Deposits & Borrowings Credit Deposit Ratio has reduced from 137% to below 94% CD Ratio (Gross Advances & Credit Substitutes) CD Ratio (Gross Advances) 169.0% Incremental CD ratio (Gross Advances) on yearly basis 156.6% 159.0% (i.e. since March 2024) stood at 76.1% 137.0% 134.8% 132.1% 124
Slide 26: Section 3: Diversified Loan Portfolio
Section 3: Diversified Loan Portfolio
Slide 27: Diversified Loan Book
Section 3: Diversified Loan Portfolio Diversified Loan Book The Bank has transformed the loan book from a primarily wholesale credit book to a well diversified portfolio including retail, rural, MSME and corporate Banking Loan Book: US$ 12,313 Mn. December 31, 2018 Loan Book: US$ 28,462 Mn. March 31
Slide 28: Loan book diversified across more than 25 business lines
Section 3: Diversified Loan Portfolio The Bank has diversified its loan book across more than 25 business lines Other Corporates Infrastructure Loan Book: March 31, 2025 incl SE/SR 1% Financing 1% US$ 28,462 Mn. Financial Institutions 9% Emerging Corporates 6% Home Loan 11% 29% of total loan book Ba
Slide 29: Loan Growth driven by HL, LAP, Vehicle and MSME & Corporate Loans
Section 3: Diversified Loan Portfolio Loan Growth driven by HL, LAP, Vehicle and MSME & Corporate Loans Gross Loans & Advances (In US$ Mn.) Mar-24 Dec-24 Mar-25 YoY (%) QoQ (%) Retail Finance 14,015 15,876 16,636 18.7% 4.8% - Home Loan 2,626 3,094 3,199 21.8% 3.4% - Loan Against Property 2,853 3,033
Slide 30: Retail, Rural and MSME finance book growth for 15 years
Section 3: Diversified Loan Portfolio The Bank has grown Retail, Rural and MSME finance book strongly for 15 years across cycles while maintaining high asset quality Ex MFI Mar-25 Gross NPA 0.25% 0.08% 0.53% 0.99% 2.02% 2.14% 1.91% 1.66% 1.46% 2.18% 1.77% 4.01% 2.63% 1.65% 1.38% 1.70% 1.40% Net NPA
Slide 31: Infrastructure financing portfolio reduced below 1%
Section 3: Diversified Loan Portfolio The Bank has reduced its infrastructure financing portfolio from 19% in Mar-19 to below 1% of the total funded assets in Mar-25 Infra Book (₹ crore) Infra % 2,525 19.4% 1,684 13.8% 1,272 9.2% 811 5.3% 549 2.9% 333 276 1.4% 0.97% Mar-19 Mar-20 Mar-21 Mar-22 Mar-2
Slide 32: Reduced concentration risk in Wholesale lending
Section 3: Diversified Loan Portfolio As a key risk measure, the Bank has reduced concentration risk in Wholesale lending Also, the exposure to top 20 single borrowers reduced from 16% in Further, the exposure to top 5 industries also reduced from 41% Mar-19 Mar-19 to 4% in Mar-25 to 20% in Mar-25 w
Slide 33: Robust Risk Management Framework
4. Robust Risk Management Framework 1. Cash-flow based lending – fundamental basis of Bank’s lending 2. EMI / Cheque Bounce (early bucket) return Trend 3. Collection Efficiency Trend 4. SMA – 1+2 Trend 5. Product wise SMA -1+2 trend in Retail, Rural, MSME 7. Asset Quality Summary Separating MFI asse
Slide 34: Cash Flow Assessment Debit
1. Cash-flow based lending – fundamental basis of Bank’s lending Section 4: Robust Risk Management Framework The fundamental underwriting principle of the Bank explained Cash Flow Debit Assessment Instruction to High Asset Quality (Bank statements, GST filings, Bureau Data etc.) Bank • The Bank lend
Slide 35: 10 Step Stringent Underwriting Process
1. Cash-flow based lending – fundamental basis of Bank’s lending Section 4: Robust Risk Management Framework 10 Step Stringent Underwriting Process No Go The Bank evaluates certain quick no-go criteria such as Title Deed Evaluation of title deeds of the property and collateral, Criteria deduplicatio
Slide 36: First EMI returns reduced by 35%
2. EMI / Cheque Bounce (early bucket) return Trend Section 4: Robust Risk Management Framework First EMI returns for insufficient funds has reduced by 35% which indicates quality of underwriting has improved over the years First EMI Returns for insufficient funds 7.1% 5.1% 5.1% 5.0% 4.9% 4.7% 4.6% 4
Slide 37: Collection efficiency stable at 99.5%
3. Collection Efficiency Trend Section 4: Robust Risk Management Framework The Bank collection efficiency stable at 99.5% (Excluding micro-finance) Collection Efficiency % = (Pos of EMI Collected for the Month)/(Pos of EMI Due for the month) % Collections % represented here do not include any arrear
Slide 38: SMA-1 & SMA-2 portfolio as % of Retail, Rural & MSME Loan Book
4. SMA 1+2 Trend Section 4: Robust Risk Management Framework SMA-1 & SMA-2 portfolio as % of Retail, Rural & MSME Loan Book (Excluding Microfinance business) is stable SMA-1 & SMA-2 portfolio as % of Retail, Rural & MSME Loan Book, ex MFI (gross of IBPC) SMA 1 = 31-60 dpd Pre -NPA SMA 2 = 61-90 dpd
Slide 39: Product wise SMA Analysis
5. Product wise SMA 1+2 Trend Section 4: Robust Risk Management Framework Product wise SMA Analysis – All product stable except Microfinance Product-wise SMA-1 & SMA-2 portfolio Jun-24 Sep-24 Dec-24 Mar-25 5.10% 4.56% SMA excluding MFI business is at 0.87% as on March 31, 2025 2.54% 1.88% 1.71% 1.69
Slide 40: Retail, rural and MSME segments have low NPA ratios
6. Break-down of NPA Section 4: Robust Risk Management Framework Retail, rural and MSME product segments continue to have low NPA ratios • Bank’s GNPA was at 1.87% and NNPA at 0.53% • Provision coverage at bank level stood at 72.3% • Gross and Net NPA of Microfinance book stood at 7.71% and 1.86% re
Slide 41: Asset Quality excluding Microfinance is stable
7. Asset Quality Summary – Ex-MFI and MFI Section 4: Robust Risk Management Framework Asset Quality of the Bank excluding Microfinance business is stable Gross NPA % Net NPA % 1.81% 1.63% 0.49% 0.47% • Credit cost of the Bank ex MFI and excluding one Dec-24 Mar-25 Dec-24 Mar-25 legacy infrastructure
Slide 42: SMA-0 of microfinance book declined 45% QoQ
7. Asset Quality Summary – Ex-MFI and MFI Section 4: Robust Risk Management Framework SMA-0 of microfinance book has declined by 45% QoQ In US$ Mn. SMA-0 SMA-1&2 91 75 69 59 48 After increase in SMA-0 from Mar-24 37 57 to Dec-24, SMA-0 pool has declined 36 by 45% QoQ, which indicates 27 improving po
Slide 43: Slippages excluding microfinance reduced sequentially
8. NPA Movement Section 4: Robust Risk Management Framework Slippages of portfolio excluding microfinance has reduced sequentially Description (US$ Mn.) Q3 FY25 Q4 FY25 Opening NPAs 494 518 ADD: Gross additions (Fresh Slippages) 258 256 - Other than MFI 206 189 - MFI 51 67 LESS: Recoveries, Upgrades
Slide 44: Vintage Analysis
9. Vintage Analysis Section 4: Robust Risk Management Framework Vintage Analysis – showing quality of portfolio improvement over the year (excluding microfinance business). Vintage Analysis compares the delinquency of a portfolio with another, exactly 6.0% after the same number of Months on Books (M
Slide 45: Delinquency better than industry per CIBIL records
10. Industry Comparison 30+ Performance for key products Section 4: Robust Risk Management Framework Coincidental (30+%) delinquency better than industry as per CIBIL records Home Loan Loan Against Property 5.40% 4.00% 3.50% 3.50% 3.50% 4.70% 4.60% 3.40% 4.30% 4.40% 1.90% 1.60% 1.50% 1.46% 1.43% 1.4
Slide 46: Delinquency better than industry per CIBIL records
10. Industry Comparison 30+ Performance for key products Section 4: Robust Risk Management Framework Coincidental (30+%) delinquency better than industry as per CIBIL records PL (including Xsell) Consumer Durable 3.20% 3.20% 3.30% 3.40% 3.40% 3.00% 3.00% 3.20% 3.20% 2.80% 2.86% 3.02% 3.00% 2.89% 2.4
Slide 47: Provision Coverage Ratio increased to 72.3%
11. Trend of Provision Coverage Ratio Section 4: Robust Risk Management Framework Provision Coverage Ratio increased to 72.3% for the Bank 72.3% 68.8% 66.4% 59.5% Provision coverage improved by 347 bps 56.2% from 68.8% in March 2024 to 72.3% in March 2025 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Provision
Slide 48: Section 5: Microfinance Business
Section 5: Microfinance Business a. Purpose & Objective b. Trend of Disbursement & Outstanding Book c. Microfinance Trend in Collection Efficiency d. Insured by CGFMU Cover
Slide 49: Micro-finance Loans – Meets Agri and PSL Requirements
a. Purpose & Objective Section 5: Microfinance Business Micro-finance Loans – Meets Agri and PSL Requirements • Small ticket size loans offered to only women borrowers primarily in rural areas for their livelihood generation • Usually, 10-20 members come together to form a group, who are provided co
Slide 50: Micro-Finance book reduced to 4% of funded assets
b. Trend of Microfinance Disbursement & Book Section 5: Microfinance Business The Bank’s Micro-Finance book has reduced to 4% of total funded assets as the conservative stance of Micro-Finance disbursals continues • Bank put restriction on new to bank customer in selected geographies and have been r
Slide 51: Microfinance collection efficiency
c. MFI Trend in Collection Efficiency Section 5: Microfinance Business Collection Efficiency reduced in Q3-FY25, bounced back to 99.2% in March-25 • Collection Efficiency % = (Pos of EMI Collected for the Month)/(Pos of EMI Due for the month)% • Note: Collections does not include any arrear collecti
Slide 52: CGFMU cover increased since January 2024
d. Insured by CGFMU cover Section 5: Microfinance Business Micro-finance business: CGFMU cover increased gradually since January 2024 • The disbursals in micro-finance segment continued to reduce in Q4-FY25. • The incremental new disbursals from January 2024 have been covered 66% under CGFMU. • The
Slide 53: Section 6: Digital Capabilities
Section 6: Digital Capabilities
Slide 54: Advanced Mobile Banking App rated 4.9
Section 6: Digital Capabilities Bank successfully rolled out an advanced Mobile Banking App with top rating of 4.9 on Google Play and 4.8 on App Store CREATE FD in 2 CLICKS 8 FIRSTMONEY PL – ETB/NTB ACE FUNDS/ IPO SMART STATEMENT Only Indian bank to feature in REVAMPED CREDIT CARD Global Top-5 Mobi
Slide 55: Private Wealth Management AUM crossed US$ 5,000 Mn.
Section 6: Digital Capabilities Private Wealth Management: AUM growing at 27% YoY and crossed US$ 5,000 Mn. • The Bank is successfully creating a strong private wealth franchise. • Private Banking Book comprising of Investments AUM & Deposits grew by 27% on a YoY basis to US$ 5,019 Mn. Private Wealt
Slide 56: Over 17 million live FASTags
Section 6: Digital Capabilities Over 17 million live FASTags Largest IDFC FIRST is the largest issuer among 38 Issuer Number of FASTags (Live) banks in NETC with respect to FASTAG monthly Issuer bank activation numbers and value processed. 17.8M Largest Acquirer Largest Acquirer Bank with 530+ Toll
Slide 57: Credit Cards in force crosses 3.5 million
Section 6: Digital Capabilities Credit Cards in force crosses 3.5 million mark Credit Card Book (US$ Mn.) Credit Cards in force Credit Card Spends (US$ Mn.) 36% 884 37% 3.5 Mn+ 42% 4,916 652 2.5 Mn+ 3,458 413 1.5 Mn+ 2,185 237 0.7 Mn+ 1,001 50 0.1 Mn+ 49 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-21 Mar
Slide 58: Strong growth in Business from Mobile App
Section 6: Digital Capabilities Strong growth in Business from recently launched Mobile App Mutual Funds (Investments) Foreign Payments (US$ Mn.) (US$ Mn.) 73 56 30 23 Q4-FY24 Q4-FY25 Q4-FY24 Q4-FY25 Payment through UPI Fixed Deposits (US$ Mn.) (US$ Mn.) 808 1,459 535 785 Q4-FY24 Q4-FY25 Q4-FY24 Q4-
Slide 59: Improvement in Customer Service due to Digital Capabilities
Section 6: Digital Capabilities Strong improvement in Customer Service due to Digital Capabilities • Digitisation initiatives are improving efficiency and customer experience in customer service, disbursement, processing, collection, liabilities, and all divisions. • For instance, in the last one ye
Slide 60: Section 7: Profitability & Capital
Section 7: Profitability & Capital 59
Slide 61: Core PPOP grew 17% YoY in FY25
Section 7: Profitability & Capital Strong rise in Profitability, Core PPOP grew 17% YoY in FY25 In US$ Mn. unless specified otherwise 17% Net Interest Income Fee and Other Income 15% 2,270 1,935 785 682 1,487 1,142 487 868 317 715 412 182 191 99 FY19* FY20 FY21 FY22 FY23 FY24 FY25 FY19* FY20 FY21 FY
Slide 62: Breakup of Fee & Other Income – FY25
Section 7: Profitability & Capital Breakup of Fee & Other Income – FY25 Loan Origination Fees • The Bank has launched and 33% General banking scaled up many fee-based Fees & Others products in the last 6 years. 22% • Many of these products are in the early stage of their lifecycle and have the poten
Slide 63: Targeting lower Cost to Income Ratio over next 2 years
Section 7: Profitability & Capital Targeting to bring down the Cost to Income Ratio over next 2 years Assets C:I ratio Trend: Retail Liabilities C:I ratio Trend: Credit Cards C:I ratio Trend: 60% 227% 197% 240% 56% 182% 171% 53% ~140% 165% 53% ~50% 116% 100% ~75% FY22 FY23 FY24 FY25 FY27 P FY22 FY23
Slide 64: Composition of Operating Expenditure (FY25)
Section 7: Profitability & Capital Composition of Operating Expenditure (FY25) • Bank beginning to see benefits of operating leverage. In FY25, Total Business grew by 23% but the Opex increased by only 16.5%. • Customer Deposits grew by 25.2% and Loans and advances grew 20.4%. IT Expenses Employee R
Slide 65: Bank has turned profitable on sustained basis
Section 7: Profitability & Capital Bank has turned profitable on sustained basis based on strong Operating Profits Net Profit (US$ Mn.) 348 287 • The Asset Businesses (Retail, Rural, MSME & 179 Wholesale Banking) have been contributing to the profitability of the Bank. 53 • The overall profitability
Slide 66: Assets (Retail Loans & Wholesale Banking): Profitability
Section 7: Profitability & Capital Assets (Retail Loans & Wholesale Banking) : Profitability US$ Mn. Operating Profit as a % of Average Loan Book (Retail + Wholesale) Avg. Loan Book 12,302 12,070 13,124 16,460 20,800 25,185 YoY Growth% -2% 9% 25% 26% 21% 4.7% 4.8% The reduction in FY25 is primarily
Slide 67: Retail Liabilities Business: Moving towards break even
Section 7: Profitability & Capital Retail Liabilities Business : Moving towards break even with scale and productivity US$ Mn. Operating Profit as % of Average Retail Liabilities Avg Retail Liabilities 2,732 6,587 8,191 10,778 16,149 22,285 YoY Growth % 141% 24% 32% 50% 38% • Retail Liabilities gene
Slide 68: Credit Cards Business: Operational Break-even achieved
Section 7: Profitability & Capital Credit Cards Business: Operational Break-even achieved within 4 years US$ Mn. Operating Profit as % of Average Loan Book Avg. Loan Book 139 303 485 714 YoY Growth% 118% 60% 47% • Credit Card business was launched during the end of FY21 and has grown significantly s
Slide 69: Balance Sheet
Section 7: Profitability & Capital Balance Sheet Growth (%) In US$ Mn. Mar-24 Dec-24 Mar-25 (YoY) Shareholders' Funds 3,784 4,447 4,480 18.4% Deposits 23,597 27,868 29,655 25.7% - CASA Deposits 11,149 13,303 13,910 24.8% - Term Deposits 12,448 14,565 15,744 26.5% Borrowings 5,992 5,458 4,585 -23.5%
Slide 70: Annual Income Statement
Section 7: Profitability & Capital Annual Income Statement Growth (%) In US$ Mn. FY24 FY25 YoY Interest Income 3,567 4,294 20.4% Interest Expense 1,632 2,025 24.1% Net Interest Income 1,935 2,270 17.3% Fee & Other Income 682 785 15.2% Trading Gain 24 41 67.0% Operating Income 2,642 3,096 17.2% Opera
Slide 71: Quarterly Income Statement
Section 7: Profitability & Capital Quarterly Income Statement Growth (%) In US$ Mn. Q4 FY24 Q3 FY25 Q4 FY25 YoY Interest Income 967 1,099 1,107 14.5% Interest Expense 441 522 530 20.1% Net Interest Income 526 577 577 9.8% Fee & Other Income 189 207 200 5.7% Trading Gain 4 3 23 505.6% Operating Incom
Slide 72: Core Operating profit excluding MFI business increased 30.6%
Section 7: Profitability & Capital Core Operating profit excluding MFI business increased by 30.6% YoY in FY25 Bank Level Profitability Growth Growth Q4 FY24 Q4 FY25 FY24 FY25 (Excluding – Microfinance Business) – US$ Mn. YoY YoY Net Interest Income 456 534 17.0% 1,668 2,044 22.5% Fee & Other Income
Slide 73: Capital Adequacy Ratio
Section 7: Profitability & Capital Capital Adequacy Ratio In US$ Mn. Mar-24 Dec-24 Mar-25 Common Equity 3,640 4,272 4,286 Tier 2 Capital Funds 749 760 751 Total Capital Funds 4,389 5,031 5,036 Total Risk Weighted Assets 27,244 31,230 32,526 CET-1 Ratio (%) 13.36% 13.68% 13.17% Total CRAR (%) 16.11%
Slide 74: Shareholding Pattern
Section 7: Profitability & Capital Shareholding Pattern Scrip Name: IDFC FIRST Bank (BSE: 539437, NSE:IDFCFIRSTB) Shareholding (March,31 2025) Other Body Others (0.06%) Trusts and Corporate Clearing Total No. of shares 732.20 Cr (2.49%) Members (0.05%) FDI/FPI/FC President of (25.68%) India (9.10%)
Slide 75: BVPS grew from US$ 0.37 to US$ 0.61
Section 7: Profitability & Capital BVPS has grew from US$ 0.37 to US$ 0.61 since March 2021 In US$ During the last 16 quarters, the BVPS Book Value Per Share (BVPS) reduced increased by 66% with the increasing during the first few years after merger profitability from the core business due to credit
Slide 76: Section 8: Credit Rating
Section 8: Credit Rating
Slide 77: Bank's Long Term Credit Rating
Section 8: Credit Rating Bank’s Long Term Credit Rating Rating Agency Fixed Deposit CRISIL AAA Long Term Credit Rating o AAA rating by CRISIL for its Fixed Deposit Program ICRA AA+ (stable) o Bank’s has Long Term Credit India Ratings AA+ (stable) rating AA+ (Stable) from all major rating agencies CR
Slide 78: Section 9: Board of Directors
Section 9: Board of Directors
Slide 79: Board of Directors: MD & CEO Profile
Section 9: Board of Directors Board of Directors: MD & CEO Profile Vaidyanathan aspires to create “a world-class Indian Bank, guided by ethics, powered by technology, and to be a force social good”. He became the Managing Director and CEO of IDFC FIRST Bank in December 2018 following the merger of C
Slide 80: Board of Directors
Section 9: Board of Directors Board of Directors • Advisor to global organizations across Europe, the US • Has over 32 years of experience in corporate • Was President and Group CTO at ICICI Bank from and Asia. world, with 24 years being in banking & financial 2005 to 2012. • Worked as Regional Busi
Slide 81: Section 10: Progress on ESG
Section 10: Progress on ESG
Slide 82: Our ESG journey
Section 10: Progress on ESG Our ESG journey FY 23 FY 24 FY 25 • First Integrated Report published, • Obtained BRSR Core reasonable • ESG adopted into a Board Committee aligned to IR framework, GRI & SASB assurance, aligned to SEBI • ESG Management and Steering • First BRSR published, aligned to SEBI
Slide 83: In top positions across major ESG ratings
Section 10: Progress on ESG In top positions across major ESG ratings 57 out of 100 (2024) 20.1* out of 100 (2024) 68 out of 100 (2024) 12 out of 16 (2024) 48 out of 100 (2023) 26.6* out of 100 (2023) 67 out of 100 (2023) 7 out of 16 (2023) *Lower is better A* on a scale of C* on a scale of A to F E
Slide 84: Key ESG highlights
Section 10: Progress on ESG Key ESG highlights Environment Social Governance Sustainable Finance ▪ 06 offices and 02 branches ▪ 23,848 hours volunteered ▪ Board and Management ▪ 2.38 lakh+ EV two wheelers (~31% carpet area) green by employees in FY 25 Committees on ESG financed (live portfolio) cert
Slide 85: Recognitions for ESG Efforts
Section 10: Progress on ESG Recognitions for ESG Efforts AFAI Times Now Climate Awards ABF Retail Banking Awards The European Institute of Directors India Outstanding Private Bank in Product Innovation Award Financial Inclusion Initiative of Most ESG Responsible Banking Golden Peacock Award in ESG -
Slide 86: Section 11: Awards and Recognition
Section 11: Awards and Recognition
Slide 87: Awards and Recognition
Section 11: Awards & Recognitions Awards and Recognition World's Best Banks 2025 - Forbes & Statista India's Leading Private Bank (Mid) 2025 - Dun & Bradstreet Best Private Sector Bank Award 2025- M1 TReDS Exchange Best MSME Friendly Bank (Private Sector) 2024 – CIMSME Best Mid-Sized Bank Award 2024
Slide 88: Improving TOMA score
Section 11: Awards & Recognitions IDFC FIRST Bank has established its strong presence improving its TOMA score Top Of Mind Awareness (TOMA) ^ 28 25 13 4 2 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 • Over the years, the Bank has launched many campaigns and improved its brand recognition • TOMA score represe
Slide 89: IDFC FIRST Bank
IDFC FIRST Bank We are building a world class bank with: - Highest levels of corporate governance - Stable balance sheet growth of ~20%, - Robust asset quality of GNPA less than 2% and net NPA of < 1% - High teens ROE - Contemporary technology and - High levels of Customer Centricity. 88
Slide 90: 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 91: Thank You
Thank You IDFC FIRST Bank
Slide 92: 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. 91
Slide 93: Successful Trajectory of Growth and Profits at Capital First
Successful Trajectory of Growth and Profits at Capital First Financial Performance: The Asset Under Management has consistently grown at 5-Year CAGR of 29% 3,838 Wholesale AUM (US$ Mn) 3,176 Retail AUM (US$ Mn) 2,332 1,887 1,409 1,139 884 728 324 110 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 H1-F
Slide 94: Successful Trajectory of Growth and Profits at Capital First
Successful Trajectory of Growth and Profits at Capital First Financial Performance: Yearly Trend of Profit After Tax In FY 08 and 09, the Company had made losses. Even after the new leadership took over, for two years the company continued to post losses as the building blocks for new age retail len
Slide 95: Successful Trajectory of Growth and Profits at Capital First
Successful Trajectory of Growth and Profits at Capital First This page is an extract from Capital First investor Presentation of September 2018, which is the last quarter prior to merger. Presented here to demonstrate the capability of the core loan book and the track record of growth and profitabil
Slide 96: Capital First: Return on Equity continuously improved
Capital First: the Return on Equity continuously improved over the quarters… This page is an extract from Capital First investor Presentation of September 2018, which is the last quarter prior to merger. Presented here to demonstrate the capability of the core loan book and the track record of growt
Slide 97: Capital First Market Capitalization
Successful Trajectory of Growth and Profits at Capital First This page is an extract from Capital First investor Presentation of September 2018, which is the last quarter prior to merger. Presented here to demonstrate the capability of the core loan book and the track record of growth and profitabil
Slide 98: Capital First Stock Price increased 7x
Successful Trajectory of Growth and Profits at Capital First This page is an extract from Capital First investor Presentation of September 2018, which is the last quarter prior to merger. Presented here to demonstrate the capability of the core loan book and the track record of growth and profitabil