IDFC First Bank Q2 CASA jumps 55% YoY

The private sector bank's total customer deposits increased by 20.8% to Rs 83,793 crore as on 30 September 2021 as against Rs 69,368 crore as on 30 September 2020.

Sequentially, the bank's deposits have fallen 1.3% as on 30 June 2021 from Rs 84,893 crore as on 30 June 2021.

CASA (Current Account - Savings Account) deposits of the bank jumped 55% to Rs 46,783 crore at the end of 30 September 2021 from Rs 30,181 crore on 30 September 2020. CASA ratio improved to 51.9% on 30 September 2021 from 50.86% posted at the end of 30 June 2021 and 40.37% in 30 September 2020.

Depositors' Concentration (Rs. <=5 crore) stood at 81.19% at the end of 30 September 2021 compared with 81.56% as on 30 June 2021 and 73.73% on 30 September 2020.

Retail Funded Assets grew by 7% during Q2 FY22 as compared to Q1 FY22, out of which housing loan registered strong quarter on quarter (QoQ) growth of 11% and other retail loans registered QoQ growth of 6.3%. Retail Funded Assets, including the PSL Buyouts where the underlying assets are retail in nature, constituted 70% of the overall funded assets as of 30 September 2021. Within Retail Loans segment, IDFC First said that mortgage-backed loans constitute 37.3% of the retail funded assets.

IDFC First Bank was founded by the merger of IDFC Bank and Capital First in December 2018.The bank provides a range of financial solutions to individuals, small businesses and corporates. As of 31 March 2021, the bank has 596 branches and 592 ATMs and 85 recyclers across the country. The bank posted a standalone net loss of Rs 630 crore in Q1 FY22 as compared to a net profit of Rs 93.55 crore posted in Q1 FY21.

Shares of IDFC First Bank were trading 0.94% higher at Rs 48.10 on BSE.

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