Questions across 3 calls

Ishan Agarwal

Erevna Capital

IDFC First Bank Limited

IDFC First Bank Limited CC-Sep24.pdf · 2024-10-26

Firstly, excluding the prudent extra provisions on microfinance, SMA book, and the legacy toll account, you mentioned that the credit cost i s 1.8% of the average loan book whereas my calculated number comes to 2.15% of the average loan book. Is there something that I am missing here?

Why would we do that because in the last quarter, when you're comparing it with the last quarter, so including at microfinance, our provision is 2.15% and last quarter we had reported a provision of 1.92% including microfinance. So, the 30 bps is adding because of the microfinance this time, the 30 bps provision for this quarter.

IDFC First Bank Limited CC-Jun24.pdf · 2024-07-27

Firstly, I would want to appreciate the customer service and the mobile app of the Bank. Superb as compared to other banks that I have experienced. And I'll move on to my questions. So my first question is, you had guided for a cost -to-income to be stable at 72% for Q1 and Q2, and then start dropping off and break the 70s by Q4. This quarter, the cost to income is at 70.5%. So how does the trajectory look like for the coming quarters of this year?

Okay. So moving on to my next question. You have guided...

IDFC First Bank Limited CC-Dec23.pdf · 2024-01-20

Hi, good evening. Thank you for the opportunity. I would say, decent but slightly underwhelming performance by the bank. So I have three questions. Should I ask them together? Or should I shoot them one by one?

Okay. So the first one, in our previous earnings call the management has always highlighted that core total income will grow faster than opex for FY 24, FY 25 and FY 26, and that is how operating leverage was going to play out. It is slightly disappointing to see opex here growing 33% Y-o-Y and income growing 31%, which, in turn, has upped our cost to income from 72.1% last year to 73.3% this year. What is really causing this pain in opex? What are the factors playing out? And what the management could not envisage while giving the past numbers?