Profit Statement | 2016 | 2017 | 2018 | |
Net Interest Income | INR bil | 20.6 | 19.7 | 34.6 |
Net Fee Income | INR bil | 3.05 | 4.33 | 7.62 |
Other Income | INR bil | 7.19 | 6.88 | 1.78 |
Total Revenues | INR bil | 30.9 | 30.9 | 44.0 |
Operating Profit | INR bil | 10.7 | 9.57 | -18.8 |
Provisions | INR bil | 0 | 0 | 0 |
Net Profit | INR bil | 10.2 | 8.80 | -19.1 |
Balance Sheet | 2016 | 2017 | 2018 | |
Interbank Loans | INR bil | 21.4 | 18.6 | 54.3 |
Customer Loans | INR bil | 494 | 522 | 863 |
Total Assets | INR bil | 1,121 | 1,264 | 1,671 |
Shareholders' Equity | INR bil | 147 | 153 | 182 |
Interbank Borrowing | INR bil | 1.10 | 1.65 | 1.32 |
Customer Deposits | INR bil | 401 | 480 | 704 |
Issued Debt Securities | INR bil | 503 | 573 | 700 |
Ratios | 2016 | 2017 | 2018 | |
ROE | % | 7.20 | 5.88 | -11.4 |
ROA | % | 1.04 | 0.738 | -1.30 |
Costs (As % Of Assets) | % | 2.07 | 1.79 | 4.28 |
Costs (As % Of Income) | % | 65.4 | 69.1 | 143 |
Net Interest Margin | % | 2.11 | 1.65 | 2.36 |
Loans (As % Of Deposits) | % | 123 | 109 | 123 |
NPLs (As % Of Loans) | % | ... | ... | ... |
Valuation | 2016 | 2017 | 2018 | |
Price/Earnings (P/E) | 19.8 | 18.3 | ... | |
Price/Book Value (P/BV) | 1.37 | 1.06 | 1.46 | |
Dividend Yield | % | 1.26 | 1.58 | 0 |
Earnings Per Share (EPS) | INR | 2.98 | 2.58 | -4.63 |
Book Value Per Share | INR | 42.9 | 44.8 | 44.1 |
Dividend Per Share | INR | 0.745 | 0.748 | 0 |
Get all company financials in excel:
income statement | Unit | 2015 | 2016 | 2017 | 2018 |
income statement | |||||
Interest Income | INR bil | 36.5 | 85.8 | ||
Interest Cost | INR bil | 28.0 | 65.2 | ||
Net Interest Income | INR bil | 8.47 | 20.6 | ||
Net Fee Income | INR bil | 0.677 | 3.05 | ||
Other Income | INR bil | 3.35 | 7.19 | ||
Total Revenues | INR bil | 12.5 | 30.9 | ||
Operating Cost | INR bil | 7.84 | 20.2 | ||
Operating Profit | INR bil | 4.67 | 10.7 | ||
Provisions | INR bil | 0 | 0 | ||
Extra and Other Cost | INR bil | < 0.001 | 0.053 | ||
Pre-Tax Profit | INR bil | 4.67 | 10.6 | ||
Tax | INR bil | 0 | 0 | ||
Minorities | INR bil | 0 | 0 | ||
Net Profit | INR bil | 4.67 | 10.2 | ||
Dividends | INR bil | 0.848 | 2.55 | ||
growth rates | |||||
Net Interest Income Growth | % | ... | 143 | ||
Net Fee Income Growth | % | ... | 351 | ||
Total Revenue Growth | % | ... | 147 | ||
Operating Cost Growth | % | ... | 158 | ||
Operating Profit Growth | % | ... | 129 | ||
Pre-Tax Profit Growth | % | ... | 128 | ||
Net Profit Growth | % | ... | 118 | ||
market share | |||||
Market Share in Revenues | % | 0.371 | 0.768 | ... | |
Market Share in Net Profit | % | 1.13 | ... | ... | ... |
balance sheet | Unit | 2015 | 2016 | 2017 | 2018 |
balance sheet | |||||
Cash | INR bil | 19.0 | 30.0 | ||
Interbank Loans | INR bil | 10.0 | 21.4 | ||
Customer Loans | INR bil | 457 | 494 | ||
Debt Securities | INR bil | 297 | 502 | ||
Fixed Assets | INR bil | 6.73 | 7.99 | ||
Total Assets | INR bil | 832 | 1,121 | ||
Shareholders' Equity | INR bil | 136 | 147 | ||
Of Which Minority Interest | INR bil | 0 | 0 | ||
Liabilities | INR bil | 696 | 974 | ||
Interbank Borrowing | INR bil | 148 | 1.10 | ||
Customer Deposits | INR bil | 82.2 | 401 | ||
Sight Deposits | INR bil | 3.69 | 13.0 | ||
Term Deposits | INR bil | 78.5 | 388 | ||
Issued Debt Securities | INR bil | 424 | 503 | ||
Other Liabilities | INR bil | 41.9 | 69.2 | ||
asset quality | |||||
Non-Performing Loans | INR bil | 30.6 | ... | ... | ... |
Gross Loans | INR bil | 476 | 494 | ||
growth rates | |||||
Customer Loan Growth | % | ... | 8.10 | ||
Total Asset Growth | % | ... | 34.7 | ||
Shareholders' Equity Growth | % | ... | 7.66 | ||
Customer Deposit Growth | % | ... | 388 | ||
market share | |||||
Market Share in Customer Loans | % | 0.573 | 0.598 | ... | |
Market Share in Total Assets | % | 0.660 | 0.789 | ... | |
Market Share in Customer Deposits | % | 0.090 | 0.377 | ... |
ratios | Unit | 2015 | 2016 | 2017 | 2018 |
ratios | |||||
ROE | % | 3.42 | 7.20 | ||
ROA | % | 0.561 | 1.04 | ||
Costs (As % Of Assets) | % | 0.942 | 2.07 | ||
Costs (As % Of Income) | % | 62.7 | 65.4 | ||
Net Interest Margin | % | 1.02 | 2.11 | ||
Interest Spread | % | ... | 0.981 | ||
Asset Yield | % | 4.38 | 8.79 | ||
Cost Of Liabilities | % | ... | 7.80 | ||
Payout Ratio | % | 18.2 | 25.0 | ||
Interest Income (As % Of Revenues) | % | 67.8 | 66.8 | ||
Fee Income (As % Of Revenues) | % | 5.42 | 9.89 | ||
Other Income (As % Of Revenues) | % | 26.8 | 23.3 | ||
Equity (As % Of Assets) | % | 16.4 | 13.1 | ||
Loans (As % Of Deposits) | % | 556 | 123 | ||
Loans (As % Assets) | % | 54.9 | 44.1 | ||
NPLs (As % Of Loans) | % | 6.42 | ... | ... | ... |
Cost of Provisions (As % Of Loans) | % | 0 | 0 |
other data | Unit | 2015 | 2016 | 2017 | 2018 |
other data | |||||
Employees | 2,405 | ... | ... | ||
Sight (As % Of Customer Deposits) | % | 4.50 | 3.25 |
Get all company financials in excel:
IDFC First Bank has been growing its revenues and asset by 52.1% and 26.2% a year on average in the last 3 years. Its loans and deposits have grown by 23.6% and 105% a year during that time and loans to deposits ratio reached 123% at the end of 2018. The company achieved an average return on equity of 0.558% in the last three years with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 143% in 2018, compared to 92.4% average in the last three years.
Equity represented 10.9% of total assets or 21.1% of loans at the end of 2018. IDFC First Bank's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2018.
IDFC First Bank stock traded at INR 64.3 per share at the end of 2018 resulting in a market capitalization of USD 3,802 mil. Over the previous three years, stock price fell by 21.5% or 7.76% a year on average. That’s compared to an average ROE of 0.558% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of x and price to book value (PBV) of 1.46x in 2018.