IDFC First Bank reported a modest 5% rise in Q4 net profit, aided by a 40% decline in provisions. However, a Rs 645-crore fraud at its Chandigarh branch sharply dented operating performance, leading to a 42% drop in operating profit after the bank fully expensed the impact during the quarter.
IDFC First Bank Q4 profit up 5% on lower provisions; fraud hits ops 42%
ET Markets·ET Markets··1 min read
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