There’s quite a bit of optimism about banking in general. What about IDFC First, in terms of profits, bad loans and growth?
Our operating profit in FY22 is up 45% over FY21. In FY23 we have guided for 45-50% growth, which we are on track. We can grow profits by a similar amount in FY24 again because it is all based on core income. We have already reached a 1% return on assets within three and a half years. Our gross non-performing assets are only 2% and net NPA is only 0.7%. Our SMA 1+2 is only 1%. Once the ₹750 crore toll road account is sorted, Net NPA at the overall bank level will come down from 1% to 0.7%.
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