Shareholders of IDFC First Bank have approved two special resolutions allowing the lender to raise funds through the issuance of equity securities and debt securities on a private placement basis. According to reports from NDTV Profit, the resolution for raising funds through the issuance of equity securities was approved with 99% of the valid votes cast in favour. The resolution received 4,64,96,06,684 votes in favour, while 4,69,47,682 votes were against the resolution.
Shareholders also approved the proposal for issuance of debt securities on a private placement basis, with 99.93% of valid votes cast in favour. As reported by NDTV Profit, the resolution received 5,35,92,44,846 votes in favour, compared with 38,79,531 votes against. For the equity fundraising resolution, 3,573 members voted in favour, while 214 voted against with no invalid votes recorded. Similarly, for the debt securities proposal, 3,584 members voted in favour and 195 voted against with no invalid votes reported.
According to NDTV Profit reports, IDFC First Bank delivered exceptional Q1FY27 results with net profit more than doubling year-on-year to ₹1,075 crore from ₹463 crore, marking the bank's highest-ever quarterly profit. The bank's net interest income rose 21% to ₹5,972 crore, while operating profit increased 14% to ₹2,553 crore. Provisions fell to ₹1,144 crore from ₹1,659 crore a year ago, though they increased sequentially from ₹869 crore.
As reported by NDTV Profit, asset quality showed significant improvement with gross NPA declining to 1.51% from 1.61% in the previous quarter and net NPA falling to 0.44% from 0.48%. The bank's net interest margin rose 25 basis points to 5.96%. Growth metrics remained strong with CASA deposits increasing 24.6% to ₹1.58 lakh crore, customer deposits rising 16.6% to ₹2.99 lakh crore, and loans and advances growing 20.6% to ₹3.05 lakh crore.
