IDFCFIRSTB

First Bank V Vaidyanathan

➝ Credit cost is high as MFI, as a component of credit cost is still high. ➝ SMA has come down to 1.01% vs 1.07 QoQ, indicating credit cost may decline. ➝ Rising credit costs are broad-based, not limited to a single segment. ➝ Deposit repricing benefits were absent this quarter but are expected to materially reflect from Q4. ➝ The bank had ₹120 crore exposure to a failed ATM company, which impacted credit cost this quarter.