Idfc First Bank Ltd. · NSE:IDFCFIRSTB
Idfc First Bank — Q2 FY26 Earnings Presentation
98 slides from Idfc First Bank's earnings presentation, Oct 18, 2025
Slide 1: Investor Presentation – Q2 FY26
Investor Presentation – Q2 FY26 October 18, 2025
Slide 2: Table of Contents
Progress Since Merger 1 Progress Since Merger 3 Building a Universal Bank 2 Building a Universal Bank 9 Bank at Glance 3 Bank at Glance 19 Deposits and Borrowings 4 Deposits and Borrowings 21 Diversified Loan Portfolio 5 Diversified Loan Portfolio 31 TABLE Strong Risk Management Framework 6 Strong R
Slide 3: Our Vision
Our Vision BUILDING A WORLD CLASS BANK GUIDED BY POWERED BY BE A FORCE FOR ETHICS TECHNOLOGY SOCIAL GOOD 2
Slide 4: Section 1: Progress since merger
Section 1: Progress since merger
Slide 5: Background: IDFC FIRST Bank created by merger of IDFC Bank and Capital First
Section 1: Progress since merger Background: IDFC FIRST Bank created by merger of IDFC Bank and Capital First Sep-25 • IDFC Limited was created in • Capital First was an NBFC IDFC FIRST Bank was created 1997 for financing infrastructure. created in 2012, focussed on through the merger of IDFC MSME a
Slide 6: Progress since merger (1/4)
Section 1: Progress since merger Progress since merger (1/4) Sep-25 We are happy to share that since the merger in December 2018, the Bank has made significant progress on all counts including Deposit Growth, Loan Growth, Capital Adequacy, Asset Quality and Profitability. 01. Concluded Smooth Integr
Slide 7: Progress since merger (2/4)
Section 1: Progress since merger Progress since merger (2/4) Sep-25 Pre-merger Financials (September 30, 2018) In US$ Mn. Parameters CAPITAL FIRST IDFC Bank Proforma Loan Book 3,092 8,629 11,721 Customer Deposit 0 4,166 4,166 BALANCE SHEET (NBFC) Retail Deposit 0 (NBFC) 1,032 1,032 CASA Deposit 0 (N
Slide 8: Progress since merger (3/4)
Section 1: Progress since merger Progress since merger (3/4) Sep-25 Post Merger Financials In US$ Mn. Change Upon merger Now Since Parameters (30-Sep-2025) (31-Dec-2018) Merger Loan Book 11,989 30,536 15% CAGR Customer Deposit 4,405 30,824 33% CAGR BALANCE SHEET Retail Deposit 1,191 24,384 56% CAGR
Slide 9: Progress since merger (4/4)
Section 1: Progress since merger Progress since merger (4/4) Sep-25 • At merger Core Operating Profit was 0.51% of Total Assets which could not cover for normalized credit costs. • With scale and profitable business model, the core operating profit has reached 2.2% of Total Assets, with adequate cus
Slide 10: Section 2: Building a Universal Bank
Section 2: Building a Universal Bank
Slide 11: The Bank has built a full Suite of Universal Banking Products
Section 2: Building a Universal Bank The Bank has built a full Suite of Universal Banking Products Sep-25 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, For
Slide 12: Bank has set-up 1,041 branches across India
Section 2: Building a Universal Bank Bank has set-up 1,041 branches across India Sep-25 • IDFC FIRST Bank Branches and ATMs are digitally equipped with customer friendly staff. • Bank grew its branch network 5X from 206 branches at merger to 1,041 branches as on September 30, 2025. • Bank also has I
Slide 13: #1 Mobile Banking App in India
Section 2: Building a Universal Bank # 1 Mobile Banking App in India, rated 4.9 on Android and 4.8 on IOS Sep-25 Only Indian bank to feature in Global Top-5 Mobile Banking Apps Only Indian bank to feature in Global Top-5 Mobile Banking Apps The Forrester Digital Experience Review: Indian Mobile Ban
Slide 14: Business Banking: Strong book growth with healthy portfolio
Section 2: Building a Universal Bank Business Banking : Strong book growth with healthy portfolio Sep-25 Fully digital onboarding Business Banking Book Number of Customers 1,252 10386 1,118 9448 Analytics led seamless fast track renewal 7733 848 5940 581 4672 4137 Branch embedded vicinity basis sour
Slide 15: Focus on Startup Banking
Section 2: Building a Universal Bank Focus on Startup Banking Sep-25 PORTFOLIO PROGRAM ➢ A flagship, one-of-its- kind Founder Success Program which offers mentoring, Startup Banking Customer Base (Count)# networking, and fundraising opportunities to startups 29,300 25,400 ➢ A monthly customer engage
Slide 16: NRI Business crosses 1.1 Lakh customers
Section 2: Building a Universal Bank NRI Business crosses 1.1 Lakh customers & US$ 2,290 Mn. in balances Sep-25 NRI Product Enhancements Number of Customers # Digital Onboarding : Simplified & Paperless onboarding, Personalised account number 1,11,000 98,000 GIFT City FD Creation – Simplified accoun
Slide 17: Private Wealth Management: AUM growth of 28% YoY
Section 2: Building a Universal Bank Private Wealth Management: AUM growth of 28% YoY Sep-25 The Bank has successfully created a strong private wealth franchise. Private Wealth customers count at 31,400 customers Private Wealth Book (Deposits & Investments – US$ Mn.)^ Solutions 6,265 • Risk Profilin
Slide 18: Largest Issuer of FASTags in NETC
Section 2: Building a Universal Bank Largest Issuer of FASTags in NETC (National Electronic Toll Collection) Sep-25 Active TAGS grew 18% YoY ▪ India’s FIRST FASTag accepted at Tolls, Fuel stations and Parking. 17.00 (In Mn) 16.40 16.50 ▪ Program leader with 39% Market share with respect to Toll Valu
Slide 19: Credit Cards in force crosses 4.0 million mark
Section 2: Building a Universal Bank Credit Cards in force crosses 4.0 million mark, Spends increase by 36% YoY in H1 FY26 Sep-25 Credit Card Book (US$ Mn.) Credit Cards in force Credit Card Spends (US$ Mn.) 4.0 Mn 989 3.5 Mn 4,787 861 2.5 Mn 3,367 635 2,955 402 1.5 Mn 2,127 231 0.7 Mn 974 49 0.1 Mn
Slide 20: Section 3: Bank at Glance
Section 3: Bank at Glance
Slide 21: Bank at Glance – As on September 30
Section 3: Bank at Glance Bank at Glance – As on September 30, 2025 Sep-25 SMA 1+2 Loans & Advances GNPA ratio NNPA ratio (Retail, Rural & MSME) US$ 30,536 Mn. 1.86% 0.52% 0.90% (20% YoY | 5% QoQ) (-6 bps YoY | -11 bps QoQ) (4 bps YoY | -3 bps QoQ) (-7 bps | -11 bps) Customer Deposits CASA Deposits
Slide 22: Section 4: Deposits and Borrowings
Section 4: Deposits and Borrowings
Slide 23: Total Customer Deposits strong at 23% YoY
Section 4: Deposits & Borrowings Total Customer Deposits strong at 23% YoY Sep-25 Total Customer Deposits = Retail Customer Deposits + Wholesale Customer Deposits (Excludes Certificate of Deposits) In US$ Mn. Total Customer Deposits Sep-25 vs Sep-24 US$ 5,850 Mn. 23.4% 30,824 Sep-25 vs Jun-25 US$ 1,
Slide 24: Retail Deposits growth strong at 21% YoY
Section 4: Deposits & Borrowings Retail Deposits growth strong at 21% YoY Sep-25 In US$ Mn. Retail Deposits Sep-25 vs Sep-24 US$ 4,304 Mn. 21.4% Sep-25 vs Jun-25 US$ 991 Mn. 4.2% 24,384 21,909 17,336 11,898 7,319 7,793 3,886 1,191 1,514 Dec-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Sep-25
Slide 25: CASA Deposits growth strong at 27% YoY
Section 4: Deposits & Borrowings CASA Deposits growth strong at 27% YoY Sep-25 In US$ Mn. CASA Deposits CASA Ratio 50.1% Sep-25 vs Sep-24 US$ 3,355 Mn. 26.8% 15,874 Sep-25 vs Jun-25 US$ 1,309 Mn. 9.0% 13,544 10,855 CASA ratio grew from 8.7% as of December 31, 2018 to 50.1% as of September 30, 2025 8
Slide 26: Diversified liabilities base with 79% Customer Deposits in Retail
Section 4: Deposits & Borrowings Bank has a diversified its liabilities base with 79% Customer Deposits in Retail Sep-25 • It is a strategic priority of the Bank to grow retail deposits. Retail Deposit customers are used to transactions, id, passwords, RMs, branch services, Auto Debits, Standing Ins
Slide 27: Deposits & Borrowings Details
Section 4: Deposits & Borrowings Deposits & Borrowings Details Sep-25 Particulars (In US$ Mn.) Sep-24 Jun-25 Sep-25 YoY Growth Legacy Long Term & Infrastructure Bonds 811 190 66 -91.8% Refinance & Other Borrowings 2,284 2,642 2,143 -6.2% Tier II Bonds 515 515 515 0.0% Total Borrowings 3,611 3,347 2,
Slide 28: Bank reduced Cost of Funds by 157 bps
Section 4: Deposits & Borrowings Bank reduced Cost of Funds by 157 bps from 7.8% (at merger) to 6.23% (Q2 FY 26) Sep-25 • COF reduced due to increase in CASA ratio from 8.7% at merger to 50.1%. • On QoQ basis, the cost of funds reduced by 19 bps (calculated on daily average balance). • Cost of Depos
Slide 29: Transformation of liabilities towards retail deposits
Section 4: Deposits & Borrowings Transformation of liabilities towards retail deposits Sep-25 Composition of Total Deposits & Borrowings* Legacy Borrowings Retail Deposits Legacy Borrowings 8% Retail Deposits (US$ 6,604 Mn.) (US$ 1,191 Mn.) (US$ 121 Mn.) (US$ 24,384 Mn.) 48% 9% 0.4% 3% 71% 19% 24% 1
Slide 30: Borrowings down from 48% to 8%
Section 4: Deposits & Borrowings Borrowings down from 48% to 8%, a structural improvement in liabilities profile Sep-25 Borrowings as a % of total Deposits & Borrowings 48% 44% 44% 31% 27% 22% 14% 11% 8% Dec-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Sep-25 Borrowings are excluding money ma
Slide 31: Credit Deposit Ratio reduced from 137% to 94.2%
Section 4: Deposits & Borrowings Credit Deposit Ratio reduced from 137% at merger to 94.2%, incremental CD ratio at 79.3% Sep-25 CD Ratio CD Ratio Including Credit Substitutes 169.0% 159.0% Incremental CD ratio (Gross Advances) for last year 156.6% (i.e. since September 2024) stood at 79.3% 132.1% 1
Slide 32: Section 5: Diversified Loan Portfolio
Section 5: Diversified Loan Portfolio
Slide 33: Diversified Loan Book
Section 5: Diversified Loan Portfolio Diversified Loan Book Sep-25 The Bank has transformed the loan book from a primarily wholesale credit book to a well diversified portfolio of retail, Rural, MSME and Corporate Banking Pre-Merger Current September 30, 2018 September 30, 2025 US$ 8,629 Mn. US$ 30,
Slide 34: Loan book diversified across more than 25 business lines
Section 5: Diversified Loan Portfolio The Bank has diversified its loan book across more than 25 business lines Sep-25 Other Corporates Loan Book: September 30, 2025 Infrastructure incl SE/SR 1% Financing 1% US$ 30,536 Mn. Financial Institutions 9% Home Loan 10% Emerging Corporates 7% Large Corporat
Slide 35: Loans and Advances grew @ 19.7%
Section 5: Diversified Loan Portfolio Loans and Advances grew @ 19.7% Sep-25 Loans & Advances In US$ Mn. Sep-25 vs Sep-24 US$ 5,036 Mn. 19.7% Sep-25 vs Jun-25 US$ 1,529 Mn. 5.3% 30,536 27,712 23,020 Period of Stabilization: The Bank restricted loan growth for 3 years to address liability side challe
Slide 36: Specialization in Retail, Rural and MSME; grown for 15 years
Section 5: Diversified Loan Portfolio Bank developed specialization in Retail, Rural and MSME; grown consistently for 15 years Sep-25 Retail, Rural & MSME finance Book (US$ Mn.) 24,502 The Bank has developed specialization in Cash Flow Evaluation & 22,631 Digital Capabilities for these businesses 19
Slide 37: Wholesale Loan Book growth trend since inception
Section 5: Diversified Loan Portfolio Wholesale Loan Book growth trend since inception Sep-25 Wholesale Loan Book (US$ Mn.) Initial Position: The bank initially had Reduction Phase: Upon merger, Bank Stability Phase: Wholesale book Growth Phase: Bank started regrowing the corporate infrastructure an
Slide 38: Corporate loan and Rating Profile
Section 5: Diversified Loan Portfolio Corporate loan (Funded + Non-Funded) and Rating Profile Sep-25 Total Outstanding (US$ Mn.) # Rating wise distribution ^ 8,632 BB& Below BBB 4% 7,296 19% 6,118 5,995 5,797 4,993 5,251 4,800 4,808 A and Above Dec-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25
Slide 39: Bank reduced concentration risk in Wholesale lending
Section 5: Diversified Loan Portfolio Bank reduced concentration risk in Wholesale lending Sep-25 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 5% in Sep-25 to 19% in Sep-25 which has further strengt
Slide 40: YoY Loan Growth driven by Mortgage, Vehicle, Consumer, MSME & Wholesale
Section 5: Diversified Loan Portfolio YoY Loan Growth driven by Mortgage, Vehicle, Consumer, MSME & Wholesale Loans Sep-25 Gross Loans & Advances (In US$ Mn.) Sep-24 Jun-25 Sep-25 QoQ (%) YoY (%) Retail Finance 14,972 16,896 17,898 5.9% 19.5% - Mortgage Loans 5,901 6,621 6,766 2.2% 14.7% 865 1 2 94%
Slide 41: Section 6: Strong Risk Management Framework
Section 6: Strong 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 6. Asset Quality Summary Separating
Slide 42: Cash-flow based lending – fundamental basis of lending
1. Cash-flow based lending – fundamental basis of Bank’s lending Section 6: Strong Risk Management Framework The fundamental underwriting principle of the Bank explained Sep-25 A. The Bank specializes in cash flow assessment through bank statement, GST, bureau EMI etc. B. In addition, Bank takes deb
Slide 43: Bank follows 10 Step Stringent Underwriting Process
1. Cash-flow based lending – fundamental basis of Bank’s lending Section 6: Strong Risk Management Framework Bank follows 10 Step Stringent Underwriting Process Sep-25 No Go The Bank evaluates certain quick no-go criteria such as Title Deed Evaluation of title deeds of the property and collateral, 1
Slide 44: First EMI returns for insufficient funds
2. EMI / Cheque Bounce (early bucket) return Trend Section 6: Strong Risk Management Framework First EMI returns for insufficient funds Sep-25 First EMI returns for insufficient funds has reduced by 37% indicating quality of underwriting has improved consistently 9.2% 7.1% 7.1% 5.3% 5.1% 4.9% 5.0% 4
Slide 45: Collection efficiency stable at 99.5%
3. Collection Efficiency Trend Section 6: Strong Risk Management Framework The Bank collection efficiency stable at 99.5% (Excluding micro-finance) Sep-25 Collection Efficiency % = (Pos of EMI Collected for the Month)/(Pos of EMI Due for the month) % Collections % do not include any arrear or prepay
Slide 46: SMA-1 & SMA-2 for Retail Rural and MSME improved
4. SMA 1+2 Trend Section 6: Strong Risk Management Framework SMA-1 & SMA-2 for Retail Rural and MSME book improved by 7 bps YoY and 11 bps QoQ Sep-25 • SMA-1 & 2 for microfinance business reduced from 2.64% in Jun-25 to 1.76% in Sep-25 • SMA-1 & 2 for overall Retail, Rural & MSME portfolio (excludin
Slide 47: SMA position for all products stable
5. Product wise SMA 1+2 Trend Section 6: Strong Risk Management Framework SMA position for all products stable, improvement in SMA of MFI Business Sep-25 Product-wise SMA-1 & SMA-2 portfolio Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 5.10% SMA of Retail, Rural & MSME book (excluding MFI) was at 0.87% as on
Slide 48: Gross NPA
6. Asset Quality Summary Section 6: Strong Risk Management Framework Gross NPA Sep-25 Product-wise Gross NPA portfolio Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 9.73% Gross NPA (excluding MFI) was at 1.69% as on Sep-25 as compared to 1.70% as on Jun-25 7.76% 7.71% 4.45% 2.52% 2.14% 1.99% 1.99% 1.97% 1.96%
Slide 49: Net NPA
6. Asset Quality Summary Section 6: Strong Risk Management Framework Net NPA Sep-25 Product-wise Net NPA portfolio Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 2.13% Net NPA (excluding MFI) was at 0.50% as on Sep-25 as compared to 0.50% as on Jun-25 1.86% 1.49% 1.11% 0.88% 0.87% 0.86% 0.80% 0.75% 0.72% 0.64%
Slide 50: SMA Pool of MFI has declined by 67% since March 25
6. Asset Quality Summary – Ex-MFI and MFI Section 6: Strong Risk Management Framework SMA Pool of MFI has declined by 67% since March 25, indicating reducing stress in MFI going forward Sep-25 In US$ Mn. SMA-0 SMA-1&2 89 73 67 SMA pool peaked in December quarter. Since June-25 SMA 57 pool has declin
Slide 51: Overall Bank level asset quality trend
6. Asset Quality Summary Section 6: Strong Risk Management Framework Overall Bank level asset quality trend Sep-25 Barring Covid period, the asset quality has remained stable Assets sold to ARC of US$ 275 Mn. in Jul- 6.16% Aug’18 Assets sold to ARC of US$ 464 Mn COVID Pandemic in Mar’17 Merger of ID
Slide 52: Retail Asset Quality stable over 15 years through cycles
6. Asset Quality Summary Section 6: Strong Risk Management Framework Retail Asset Quality: Gross NPA (~2%), Net NPA (~1%) stable over 15 years through cycles Sep-25 Credit Costs ~2% of loan book through cycle. Retail, Rural & MSME finance Book has been tested through 6 Stress tests during the last 1
Slide 53: Wholesale Asset quality stable
6. Asset Quality Summary Section 6: Strong Risk Management Framework Wholesale Asset quality stable Sep-25 Wholesale Banking 7.16% 6.31% Gross NPA% Net NPA% 4.49% 4.60% 3.63% 2.80% 2.73% 2.65% 2.26% 2.43% 1.76% 1.46% 1.44% 0.05% 0.04% 0.03% Dec'19 (Pre Covid) Mar'21 Mar'22 Mar'23 Mar'24 Mar'25 Jun'2
Slide 54: NPA Movement
7. NPA Movement Section 6: Strong Risk Management Framework NPA Movement Sep-25 Description (US$ Mn.) Q1 FY26 Q2 FY26 Opening NPAs 508 558 ADD: Gross additions 285 259 LESS: Recoveries and Upgrades -56 -60 Net Addition to NPA 229 199 LESS: Write-offs -179 -202 Closing NPA 558 555 Gross NPA (%) 1.97%
Slide 55: Provision Coverage Ratio improved to 72.2%
8. Trend of Provision Coverage Ratio Section 6: Strong Risk Management Framework Provision Coverage Ratio improved to 72.2% Sep-25 Provision Coverage Ratio (%) 72.3% 72.2% 68.8% 66.4% 64.5% 59.5% 56.2% 48.2% Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Sep-25 Credit cost of the Bank (excluding M
Slide 56: Section 7: Microfinance Business Update
This section on Microfinance portfolio is provided because of issues in the MFI industry Section 7: Microfinance Business Update a. Purpose & Objective b. Trend of Outstanding Book c. Insured by CGFMU Cover d. Microfinance Trend in Collection Efficiency
Slide 57: Micro-finance Loans – Meets Agri and PSL Requirements
a. Purpose & Objective Section 7: Microfinance Business Update Micro-finance Loans – Meets Agri and PSL Requirements Sep-25 • 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 a
Slide 58: Micro-Finance book reduced to 2.7% of total funded assets
b. Trend of Microfinance Disbursement & Book Section 7: Microfinance Business Update Bank’s Micro-Finance book has reduced to 2.7% of total funded assets Sep-25 Micro-finance Outstanding book (US$ Mn.) Microfinance Book as 5.6% 4.8% 4.0% 3.3% 2.7% a % of Funded Assets 1,434 1,260 1,096 957 837 Sep-2
Slide 59: CGFMU cover increased to 77% of MFI portfolio
c. Insured by CGFMU cover Section 7: Microfinance Business Update Bank taking CGFMU cover in MFI, cover increased to 77% of MFI portfolio Sep-25 Incremental disbursals from January 2024 are insured under CGFMU credit guarantee scheme. 77% CGFMU Coverage as % of the Microfinance Portfolio 72% 66% 58%
Slide 60: MFI Collection Efficiency improved to 99.1% for Q2 FY26
d. MFI Trend in Collection Efficiency Section 7: Microfinance Business Update MFI Collection Efficiency improved from 99.0% for Q1 FY26 to 99.1% for Q2 FY26 Sep-25 Collection Efficiency % = (Pos of EMI Collected for the Month)/(Pos of EMI Due for the month) % Collections % do not include any arrear
Slide 61: Section 8: Profitability & Capital
Section 8: Profitability & Capital
Slide 62: Balance Sheet
Section 8: Profitability & Capital Balance Sheet Sep-25 Growth (%) In US$ Mn. Sep-24 Jun-25 Sep-25 (YoY) Shareholders' Funds 4,226 4,435 5,325 26.0% Deposits 25,614 30,352 31,703 23.8% - CASA Deposits 12,519 14,566 15,874 26.8% - Term Deposits 13,095 15,786 15,829 20.9% Borrowings 5,309 4,903 4,671
Slide 63: Quarterly Income Statement
Section 8: Profitability & Capital Quarterly Income Statement Sep-25 • During Feb-25 to Jun-25, RBI reduced the repo rate by 100 bps, the benefit was provided to loan eligible customers • The Bank reduced the deposit rates for customers on Fixed Deposits, the full impact of which will take about 12
Slide 64: Half-Yearly Income Statement
Section 8: Profitability & Capital Half-Yearly Income Statement Sep-25 Growth (%) In US$ Mn. H1 FY25 H1 FY26 YoY Interest Income 2,033 2,243 10.3% Interest Expense 947 1,092 15.4% Net Interest Income * 1,086 1,151 5.9% Fee & Other Income 368 409 10.9% Trading Gain 15 63 - Operating Income 1,470 1,62
Slide 65: Breakup of Fee & Other Income – H1 FY26
Section 8: Profitability & Capital Breakup of Fee & Other Income – H1 FY26 Sep-25 • 91% of the fee income & other income is from retail banking operations. • Fee to Average total assets stood at 2.0% for H1 FY26. Loan Origination Fees General banking Fees & Others 33% 22% Credir Card & Toll 23% Weal
Slide 66: Targeting to bring down the Cost to Income Ratio
Section 8: Profitability & Capital Targeting to bring down the Cost to Income Ratio over next 2 years Sep-25 • Bank intends to grow branches only about 10% annually against estimated deposit growth of ~25%. • Credit Cards C:I has come down from 240% to 96% in ~4 years and expected to reduce further
Slide 67: Composition of Operating Expenditure (H1 FY26)
Section 8: Profitability & Capital Composition of Operating Expenditure (H1 FY26) Sep-25 Volume linked expenses include collection cost, Risk Containment Unit cost, credit administration cost, DICGC premium, credit card reward cost, UPI & RTGS charges etc. Channel Sourcing expenses included commissi
Slide 68: OPEX growth has been below 13% for last 3 quarters
Section 8: Profitability & Capital OPEX growth has been below 13% for last 3 quarter Sep-25 In FY25, total Business (loans + customer deposits) grew by 22.7% YoY, but Opex increased only by 16.5% YoY In H1 FY26, total Business grew by 21.6% YoY, but Opex increased by 11.8% YoY This clearly represent
Slide 69: Strong growth in core profitability; impacted by MFI crisis
Section 8: Profitability & Capital Strong growth in core profitability; trajectory temporarily impacted by MFI crisis Sep-25 • The Asset Businesses (Retail, Rural, MSME & Wholesale Banking) have strong profitability. However, as a new bank since we are investing in building the deposit franchise. He
Slide 70: Assets (Retail Loans & Wholesale Banking): Profitability
Section 8: Profitability & Capital Assets (Retail Loans & Wholesale Banking) : Profitability Sep-25 As mentioned earlier, the Asset Businesses (Retail, Rural, MSME & Wholesale Banking) have strong profitability. The reduction in FY25 and H1FY26 is primarily due to impact of passing on repo rate cut
Slide 71: Retail Liabilities Business: Moving towards break even
Section 8: Profitability & Capital Retail Liabilities Business : Moving towards break even with scale and productivity Sep-25 Being a new Bank, we invested in building necessary branch infrastructure, people, digital platforms and other capabilities. With increasing scale, Operating losses as % of D
Slide 72: Credit Cards Business: Operational Break-even achieved
Section 8: Profitability & Capital Credit Cards Business: Operational Break-even achieved within 4 years Sep-25 • Credit Card business was launched during the end of FY21. Grown to 4.0 million cards as of September 30, 2025. • Credit Card business needs significant investment in the initial phase in
Slide 73: Capital Adequacy Ratio
Section 8: Profitability & Capital Capital Adequacy Ratio Sep-25 In US$ Mn. Sep-24 Jun-25 Sep-25 Common Equity * 4,058 4,245 4,263 Tier 2 Capital Funds 739 736 716 Total Capital Funds 4,796 4,981 4,980 Total Risk Weighted Assets 29,325 33,176 34,718 CET-1 Ratio (%) 13.84% 12.80% 12.27%* Total CRAR (
Slide 74: Shareholding Pattern
Section 8: Profitability & Capital Shareholding Pattern Sep-25 Scrip Name: IDFC FIRST Bank (BSE: 539437, NSE:IDFCFIRSTB) Shareholding (September 30, 2025) Other Body Others (0.06%) Trusts and Corporate Clearing (2.16%) Members (0.02%) President of FDI/FPI/FC/FN/NRI Total No. of shares 733.93 Cr Indi
Slide 75: Price Movement Since Merger vs NIFTY Private Bank Index
Section 8: Profitability & Capital Price Movement Since Merger: IDFC FIRST Bank vs NIFTY Private Bank Index (%) Sep-25 200% 150% 100% 85.56% 75.93% 50% 0% -50% -100% Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Jun-19 Jun-20 Jun-21 Jun-22 Jun-23 Jun-24 Jun-25 Sep-19 Sep-20 Sep-21 Sep-22 Sep-23 S
Slide 76: BVPS has grown from US$ 0.36 to US$ 0.62
Section 8: Profitability & Capital BVPS has grew from US$ 0.36 to US$ 0.62 since March 2021 Sep-25 In US$ Book Value Per Share (BVPS) reduced Since Mar-21, the BVPS increased by during the first few years after merger 66% with the increasing profitability due to credit losses arising from legacy fro
Slide 77: Section 9: Credit Rating
Section 9: Credit Rating
Slide 78: Bank's Long Term Credit Rating
Section 9: Credit Rating Bank’s Long Term Credit Rating Sep-25 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 agen
Slide 79: Section 10: Board of Directors
Section 10: Board of Directors
Slide 80: Board of Directors: MD & CEO Profile
Section 10: Board of Directors Board of Directors: MD & CEO Profile Sep-25 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 mer
Slide 81: Board of Directors
Section 10: Board of Directors Board of Directors Sep-25 • Advisor to global organizations across Europe, the US • Was President and Group CTO at ICICI Bank from • Has over 32 years of experience in corporate and Asia. 2005 to 2012. world, with 24 years being in banking & financial • Worked as Regio
Slide 82: Section 11: Progress on ESG
Section 11: Progress on ESG
Slide 83: Key ESG highlights
Section 11: Progress on ESG Key ESG highlights Sep-25 FIRST ENSURE is IDFC FIRST Bank’s Environmental Social and Governance (ESG) identity, under which the Bank undertakes its sustainability initiatives. Key ESG Highlights from H1 FY26 Among the first Banks to 2.48 lakh+ Board-level IDFC FIRST Bank
Slide 84: Improved ESG ratings
Section 11: Progress on ESG Improved ESG ratings Sep-25 S&P Global CRISIL NSE ESGRisk.ai SES ESG Score ESG Rating ESG Rating ESG Score ESG Score 57 68 69 71 79.6 SCALE 0 100 0 100 0 100 0 100 0 100 IDFC FIRST BANK is a constituent of the IDFC FIRST BANK is also highly ranked by Climate FTSE4GOOD EME
Slide 85: Recognition for ESG
Section 11: Progress on ESG Recognition for ESG Sep-25 Global Fintech Awards SKOCH ESG Award IGBC AFAI Times Now Climate Awards Best Green Banking Initiative Green Infrastructure - Silver Green Visionary Award Outstanding Private Bank in Product Innovation Award (Oct 2025) (Sep 2025) (Sep 2025) Gree
Slide 86: Section 12: Awards and Recognition
Section 12: Awards and Recognition
Slide 87: Recent Awards and Recognitions
Section 12: Awards & Recognitions Recent Awards and Recognitions Sep-25 IDFC FIRST Bank has won the “Best Digital Bank in India for IDFC FIRST Bank has won the “Global Fintech Awards 2025 - Best Green FY24 by FE India’s Best Bank Award” Banking Initiative” award for its Green Fixed Deposits product
Slide 88: Awards and Recognition
Section 12: Awards & Recognitions Awards and Recognition Sep-25 FE Best Banks Awards 2025 - Best Digital Bank SKOCH ESG Award (Silver) – Green Infrastructure 2025 Global Fintech Awards 2025 – Best Digital Transformation Program Global Fintech Awards 2025 – Best Green Banking Initiative’ IGBC Summit
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 Sep-25 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
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% Sep-25 3,737 3,092 Wholesale AUM (US$ Mn) Retail AUM (US$ Mn) 2,271 1,837 1,372 1,109 860 709 315 107 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY
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 Sep-25 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 ret
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: 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 98: 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