IDFC First Bank announces business updates for Q3, check details
IDFC First Bank stock ended 0.74% higher at Rs 65.18 on Friday against the previous close of Rs 64.70 on BSE. IDFC First Bank stock lost 24.30 per cent in a year and fell 19.40 per cent in the last six months.
- Jan 3, 2025,
- Updated Jan 3, 2025 4:11 PM IST
IDFC First Bank Ltd on Friday announced its business updates for the third quarter ended December 31, 2024. Loans & advances climbed 21.9% to Rs 2,30,947 crore in the last quarter against Rs 1,89,475 crore as of December 31, 2023. The QoQ growth stood at 3.7%.
Customer deposits grew 28.8% to Rs 2,27,266 crore as of December 31, 2024 against Rs 1,76,481 crore as of December 31, 2023.
CASA Deposits increased 32.3% to Rs 1,13,091 crore as of December 31, 2024 from Rs 85,492 crore as on December 31, 2023. The QoQ growth stood at 3.5%.
CASA Ratio stood at 47.8% in Q3 compared to 46.8% as of December 31, 2023 and 48.9% as of September 30, 2024.
Credit-Deposit (CD) Ratio slipped to 95.7% as of December 31, 2024 compared to 101.4% as of December 31, 2023. CD Ratio stood at 97.7% as of September 30, 2024.
"The Bank has been bringing down the Credit-Deposit Ratio continuously since merger between IDFC Bank and Capital First in December 2018, by retiring legacy (pre-merger) bonds & borrowings and by scaling retail customer deposits. The Incremental Credit Deposit Ratio for trailing 12 months, i.e. from December 31, 2023 to December 31, 2024 is 76.6%," said the lender.
Total business (Loans & Advances and Customer Deposits) grew 25.2% (YoY) to Rs 4,58,213 crore in Q3 against Rs 3,65,956 crore as of December 31, 2023.
IDFC First Bank stock ended 0.74% higher at Rs 65.18 on Friday against the previous close of Rs 64.70 on BSE. IDFC First Bank stock lost 24.30 per cent in a year and fell 19.40 per cent in six months.
Total 13.81 lakh shares of the firm changed hands amounting to a turnover of Rs 8.93 crore. Market cap of the firm rose to Rs 47,712 crore on BSE.
IDFC First Bank Ltd on Friday announced its business updates for the third quarter ended December 31, 2024. Loans & advances climbed 21.9% to Rs 2,30,947 crore in the last quarter against Rs 1,89,475 crore as of December 31, 2023. The QoQ growth stood at 3.7%.
Customer deposits grew 28.8% to Rs 2,27,266 crore as of December 31, 2024 against Rs 1,76,481 crore as of December 31, 2023.
CASA Deposits increased 32.3% to Rs 1,13,091 crore as of December 31, 2024 from Rs 85,492 crore as on December 31, 2023. The QoQ growth stood at 3.5%.
CASA Ratio stood at 47.8% in Q3 compared to 46.8% as of December 31, 2023 and 48.9% as of September 30, 2024.
Credit-Deposit (CD) Ratio slipped to 95.7% as of December 31, 2024 compared to 101.4% as of December 31, 2023. CD Ratio stood at 97.7% as of September 30, 2024.
"The Bank has been bringing down the Credit-Deposit Ratio continuously since merger between IDFC Bank and Capital First in December 2018, by retiring legacy (pre-merger) bonds & borrowings and by scaling retail customer deposits. The Incremental Credit Deposit Ratio for trailing 12 months, i.e. from December 31, 2023 to December 31, 2024 is 76.6%," said the lender.
Total business (Loans & Advances and Customer Deposits) grew 25.2% (YoY) to Rs 4,58,213 crore in Q3 against Rs 3,65,956 crore as of December 31, 2023.
IDFC First Bank stock ended 0.74% higher at Rs 65.18 on Friday against the previous close of Rs 64.70 on BSE. IDFC First Bank stock lost 24.30 per cent in a year and fell 19.40 per cent in six months.
Total 13.81 lakh shares of the firm changed hands amounting to a turnover of Rs 8.93 crore. Market cap of the firm rose to Rs 47,712 crore on BSE.