{"id":135107,"date":"2022-10-25T08:18:20","date_gmt":"2022-10-25T12:18:20","guid":{"rendered":"https:\/\/44.250.171.167\/?p=135107"},"modified":"2022-10-25T08:18:22","modified_gmt":"2022-10-25T12:18:22","slug":"idfc-first-bank-limited-q2-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/idfc-first-bank-limited-q2-fy23-earnings-conference-call-insights\/","title":{"rendered":"IDFC First Bank Limited Q2 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"IDFCFIRSTB Stock | IDFC First Bank Limited Q2 FY23 Earnings Concall\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/1xV7bFYRhVo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><strong>Key highlights from IDFC First Bank Limited (<a href=\"https:\/\/44.250.171.167\/symbol\/IDFCFIRSTB\/\">IDFCFIRSTB<\/a>) Q2 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Management Update:<\/strong><\/p>\n<ul>\n<li>[00:09:20] IDFCFIRSTB said it expects its operating profit at a YtoY level to increase at least 50% over last year, while on a QonQ basis, even healthier than that.<\/li>\n<\/ul>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:19:43] Bhavin Gala from Marine Capital asked about the retail banking operation performance in 2Q23. V. Vaidyanathan MD replied that it sold the SR and got INR200 crores of provision relief. This relief was taken to retail and it\u2019s showing in the retail line.<\/li>\n<\/ul>\n<ul>\n<li>[00:22:43] Ishan Agarwal of Erevna Capital enquired about the annualized credit loss for 2Q23 for retail plus commercial book. V. Vaidyanathan MD answered that it\u2019s not disclosed, but overall it\u2019s 1.2% and for 1H23 it\u2019s 1.1%.<\/li>\n<\/ul>\n<ul>\n<li>[00:24:49] Ishan Agarwal of Erevna Capital asked about the reason for cost to income ratio increasing from 1Q23 to 2Q23. V. Vaidyanathan MD answered that there are lot of moving parts, but broadly the cost to income ratio of IDFCFIRSTB will trend downwards from here. Also on a YoY basis, things will be down from here on.<\/li>\n<\/ul>\n<ul>\n<li>[00:32:16] Nitin Aggarwal with Motilal Oswal queried that with margin expansion in 2Q23, how incremental spreads and margins are trending in coming quarters. Sudhanshu Jain CFO answered that IDFCFIRSTB will be able to maintain margins comfortably around 6% mark. In 2Q23 the bank was at 5.98%.<\/li>\n<\/ul>\n<ul>\n<li>[00:34:23] Nitin Aggarwal of Motilal Oswal asked about the reason for consumer loan portfolio being flat in 2Q23. Sudhanshu Jain CFO replied that the bank has sold about INR333 crore of loans during 2Q23. And also in summer consumer durable sales were also strong.<\/li>\n<\/ul>\n<ul>\n<li>[00:36:42] Lalit Deo from Equirus Securities asked about the broad range of interest paid on refinanced borrowings and tenure of the borrowings. Sudhanshu Jain CFO replied that the bank did some additional refinance borrowing during 2Q23 due to it being of longer tenure and rates were relatively better.<\/li>\n<\/ul>\n<ul>\n<li>[00:39:52] Lalit Deo with Equirus Securities enquired about the share of salaried customers in the home loan portfolio and how has it changed. V. Vaidyanathan MD answered that it would probably be about 55-60% being salaried.<\/li>\n<\/ul>\n<ul>\n<li>[00:47:13] \u00a0Sahil Sharma from SS Capital asked about the credit risk team on the retail side as in banking the most important thing is to get the money back. V. Vaidyanathan MD said that it\u2019s not hiring so much of credit managers any more. Most of that work is taken care by machines, AI\/ML etc. \u00a0Now the skill levels of people the bank is looking for is of even higher order.<\/li>\n<\/ul>\n<ul>\n<li>[00:56:36] Sagar Shah of Phillip Capital asked about the key drivers for further traction in ROE and ROA. V. Vaidyanathan MD answered that it\u2019s the scale that\u2019s driving ROE.<\/li>\n<\/ul>\n<ul>\n<li>[00:57:25] Sagar Shah of Phillip Capital also asked if the bank is seeing the average cost of deposits and borrowings peaking out in 2Q23 and going ahead. Sudhanshu Jain CFO replied that average cost for 2Q for the bank was about 5.5%, that\u2019s 25 bps higher than previous quarter. IDFCFIRSTB is not seeing substantial increase going forward.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from IDFC First Bank Limited (IDFCFIRSTB) Q2 FY23 Earnings Concall Management Update: [00:09:20] IDFCFIRSTB said it expects its operating profit at a YtoY level to increase at least 50% over last year, while on a QonQ basis, even healthier than that. Q&amp;A Highlights: [00:19:43] Bhavin Gala from Marine Capital asked about the retail [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"IDFC First Bank Limited Q2 FY23 Earnings Conference Call Insights #IDFCFIRSTB #Q2 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,1],"tags":[8249,10169,1792],"class_list":["post-135107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-finance-stocks","tag-banks","tag-earnings","tag-financial-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":128808,"url":"https:\/\/alphastreet.com\/india\/idfc-first-bank-limited-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":135107,"position":0},"title":"IDFC First Bank Limited Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"May 4, 2022","format":false,"excerpt":"https:\/\/youtu.be\/rDoEqJlpniY Key highlights from IDFC First Bank Limited (IDFCFIRSTB) Q4 FY22 Earnings Concall Q&A Highlights: Ushmunka asked about the top and mid-level management attrition rate for FY22. V. Vaidyanathan MD replied that the company doesn\u2019t reveal exact numbers but attrition at senior management is very low. However, attrition is more\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":139051,"url":"https:\/\/alphastreet.com\/india\/idfc-first-bank-limited-q3-fy23-earnings-conference-call-insights\/","url_meta":{"origin":135107,"position":1},"title":"IDFC First Bank Limited Q3 FY23 Earnings Conference Call Insights","author":"Praveen","date":"January 24, 2023","format":false,"excerpt":"Key highlights from IDFC First Bank Limited (IDFCFIRSTB) Q3 FY23 Earnings Concall Management Update: [00:06:36] IDFCFIRSTB opened about 37 branches in 3Q23, totaling to 707 branches. The bank saw strong growth across all product segments; home loans grew by 48% YoY and wheels segment saw growth of 50%. Q&A Highlights:\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":144656,"url":"https:\/\/alphastreet.com\/india\/idfc-first-bank-limited-q4-fy23-earnings-conference-call-insights\/","url_meta":{"origin":135107,"position":2},"title":"IDFC First Bank Limited Q4 FY23 Earnings Conference Call Insights","author":"Praveen","date":"May 1, 2023","format":false,"excerpt":"Key highlights from IDFC First Bank Limited (IDFCFIRSTB) Q4 FY23 Earnings Concall Q&A Highlights: [00:17:28] Mohit Surana from CLSA asked about cost-to-income and liabilities going down from 198% to 174%, and what income should be expected from liability. V. Vaidyanathan MD said the company\u2019s cost-to-income ratio has decreased from 95.13%\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":126984,"url":"https:\/\/alphastreet.com\/india\/idfc-first-bank-limited-q3-fy22-earnings-conference-call-insights\/","url_meta":{"origin":135107,"position":3},"title":"IDFC First Bank Limited Q3 FY22 Earnings Conference Call Insights","author":"Praveen","date":"February 1, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=dBWdtUQlrBc Key highlights from IDFC First Bank Limited (IDFCFIRSTB) Q3 FY22 Earnings Concall Management Update: The bank tripled the number of bank branches from 206 to 599 and grew the ATMs more than 6 times from 112 to 727. 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The Consolidated Net Profit for the business increased by 112% year over year, to \u20b9616.61 Crore from \u20b9290.21 Crore. Earnings per Share is \u20b90.98 for this\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/1e77649d-3f63-4d82-9313-9d671e39fb8f-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/1e77649d-3f63-4d82-9313-9d671e39fb8f-scaled.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/1e77649d-3f63-4d82-9313-9d671e39fb8f-scaled.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/1e77649d-3f63-4d82-9313-9d671e39fb8f-scaled.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/1e77649d-3f63-4d82-9313-9d671e39fb8f-scaled.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/1e77649d-3f63-4d82-9313-9d671e39fb8f-scaled.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=135107"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/135107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=135107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=135107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=135107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}