IDFC First Bank Q3 Updates: Business Grows 25% To Rs 4.58 Lakh Crore

IDFC First Bank Ltd.'s third-quarter business, including loans and deposits, grew 25% to Rs 4.58 lakh crore from Rs 3.65 lakh crore in the year-ago period.

Loans and advances rose 22% year-on-year from Rs 1.89 lakh crore to Rs 2.3 lakh crore in the quarter ended December. Sequentially, the loan book advanced 3.7%. The segment includes credit investment in corporate bonds, pass-through certificate, security receipts, totaling Rs 4,445 crore. the private lender said in an exchange filing on Friday.

Customer deposits rose from Rs 1.76 lakh crore to Rs 2.27 lakh crore, a solid growth of nearly 29% on a yearly basis and 4.2% on a quarterly basis.

The current-account, savings-account ratio stood at 47.8% at the end of December, a slight increase from 46.8% in December 2023 but lower than the 48.9% recorded in September 2024. CASA deposits surged 32% from Rs 85,492 crore to Rs. 1.13 lakh crore.

The credit-deposit ratio improved, falling to 95.7% from 101.4% a year earlier, continuing a downward trend since the 2018 merger of IDFC Bank Ltd. and Capital First Ltd., the lender said.

This reduction is driven by the IDFC First Bank's focus on scaling up retail customer deposits and retiring legacy pre-merger bonds and borrowings, the statement said. "The Incremental Credit Deposit Ratio for trailing 12 months, i.e. from December 31, 2023 to December 31, 2024 is 76.6%."

Shares of IDFC First Bank closed 1.27% higher at Rs 65.5 apiece on the NSE, compared to 0.76% decline in the benchmark Nifty. The announcement came minutes before market close.