IDFC First Bank shares close lower post Q3 business updates, check details 

Shares of IDFC First Bank slipped 4% on Monday after the bank announced its Q3 business updates. IDFC First Bank stock ended 3.93% lower at Rs 62.62 on Monday against the previous close of Rs 65.18 on BSE. Total 36.62 lakh shares of the firm changed hands amounting to a turnover of Rs 232.28 crore. Market cap of the firm slipped to Rs 45,838 crore on BSE. 

IDFC First Bank stock lost 28 per cent in a year and fell 22.84 per cent in six months. 

In its Q3 business updates, the private sector lender said loans & advances rose 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 rose to its 52 week high of Rs 89.60 on January 17, 2024 and fell to its 52-week low of Rs 59.24 on October 28, 2024. IDFC First Bank shares have a beta of 1, indicating average volatility in a year. 

Shares of IDFC First Bank are trading lower than their 5 day, 10 day, 30 day, 20 day, 50 day, 100 day 150 day and 200 day moving averages.