Shares of IDFC First Bank dropped almost 7% to a 21-month low after reporting a significant decline in third-quarter profit due to increased bad loan provisions in the microfinance segment. Gross slippages in the microfinance segment surged by 49% on-quarter, contributing to a negative outlook for the bank’s earnings in the upcoming quarters, as noted by Jefferies. Shares of IDFC First Bank dropped almost 7% to a 21-month low after reporting a significant decline in third-quarter profit due to increased bad loan provisions in the microfinance segment. Gross slippages in the microfinance segment surged by 49% on-quarter, contributing to a negative outlook for the bank’s earnings in the upcoming quarters, as noted by Jefferies. Economic Times
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