IDFC First Bank logs Rs 630 crore loss in Q1 on Covid provisioning

"Net loss of Rs 630 crore for Q1FY22 is because of prudent provisions for Covid wave 2.0. Covid provision pool increased from Rs 375 crore to Rs 725 crore during the current quarter on a prudent basis to act as a cushion for Covid impact," IDFC First Bank said in a release.

from Banking/Finance-Industry-Economic Times https://ift.tt/3xfhwUF