IDFC Bank Shoots Over 4%

The stock of IDFC Bank was trading up 4.37% at Rs 62.05 per share on BSE at 11:37 am IST. The stock witnessed a spurt in volume by 2.77 times.

The bank posted a profit of Rs 176 crore for the quarter ended March 31, 2017, as against Rs 165.1 crore in the same quarter last year. It reported a 6.6% rise in profits in its fourth quarter, as it continued to incur heavy expenses to expand its presence across the country.

Also, the board of IDFC Bank in its meeting held on April 25, 2017, approved raising of long term funds upto Rs 10,000 crore, mentioned a national news portal.

The bank's segments include treasury, corporate/wholesale banking, retail banking. The treasury segment consists of its investment portfolio and money market borrowing and lending, among others. The corporate or wholesale banking segment provides loans, non-fund facilities and transaction services to corporate clients.

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About Suhani Varma

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