MUMBAI: IDFC First Bank has witnessed a pick up in consumer durable fiinancing in parts of the country where lockdown curbs have eased.
Speaking to Mint, V Vaidyanathan, managing director and chief executive officer, IDFC First Bank, said the bank will focus on quality especially, given the times, and will look at lending safely. "We were prepared for the worst.
But when lockdown was lifted, we saw some pick up in demand and consumption which was pleasant to see. Durable financing in Bangalore lifted.
Maybe there is some pent up demand," Vaidyanathan said. IDFC First bank reported net profit of ₹72 crore for the quarter ended March, compared a loss of ₹218 crore a year earlier, led by a 40% rise in net interest income and fees.