9 hours ago
Q2 Results Live Updates: IDBI Bank's profit nearly doubled thanks to a one-time profit on stake sale via the NSDL IPO.
Q2 Results Live Updates: India’s leading banks posted mixed second-quarter results, with HDFC Bank and ICICI Bank outperforming estimates, while IndusInd Bank reported a surprise loss.
HDFC Bank’s net profit rose 10.8% year-on-year to ₹18,641 crore, beating forecasts, driven by higher income and improved asset quality. ICICI Bank reported a 5.2% rise in profit to ₹12,359 crore, also topping expectations, as gross NPA declined to 1.58%.
Federal Bank beat estimates despite a 9.6% drop in profit to ₹955 crore, supported by record fee income and resilient asset quality. Punjab Bank’s profit increased 14% to ₹4,904 crore, aided by better asset quality, though NII stayed flat.
Yes Bank posted an 18% rise in profit to ₹655 crore, and IDFC First Bank’s earnings jumped 75% to ₹352 crore on improved NII and lower NPAs.
In contrast, IndusInd Bank swung to a ₹445 crore loss against an expected ₹309 crore profit, hurt by higher provisions and weaker NII.
Adding to the anticipation is the expected announcement of a strategic deal between RBL Bank and Emirates, which now will likely happen on Sunday.
Stay tuned for all the latest Q2 earnings updates
