IDFC Bank posts Rs 388 cr profit for Jul-Sep

Private Sector lender IDFC Bank today reported a net profit of Rs 388 crore for the second quarter of 2016-17 fiscal.
In a regulatory filing, the bank said its operating income stood at Rs 906 crore, with non-interest income at Rs 396 crore.
It further said that funded credit grew 13 per cent to Rs 57,138 crore as on September 30, 2016, from Rs 50,749 crore as on June 30, 2016.
Similarly, total credit grew to Rs 67,862 crore from Rs 57,809 crore as on June 30, 2016.
The bank said its deposits grew 76 per cent and stood at Rs 22,911 crore of which CASA (Current Account Saving Account), low cost deposit, was Rs 1,791 crore.

Its Gross NPAs to Gross Advances stood at 5.96 per cent during the second quarter of the current fiscal year.
Shares of the bank closed at Rs 78.25 on BSE, up 0.06 per cent over the previous day.
IDFC Bank was incorporated on October 21, 2014, as a company. Pursuant to grant of banking licence by RBI and other related approvals, IDFC Bank commenced its banking operations on October 1, 2015.