IDFC First Bank announces business updates for Q3, check details

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.