IDFC First Bank records over 10% YoY growth in total customer deposits

IDFC First Bank said that the total customer deposits rose 10.48% to Rs 85,387 crore as on 31 December 2021 from Rs 77,289 crore as on 31 December 2020.

The customer deposits have increased by 1.79% as compared with Rs 83,889 crore as on 30 September 2021.

CASA ratio was 51.85% as on 31 December 2021 as compared with 48.31% as on as on 31 December 2020 and 51.28% as on 30 September 2021.

Average LCR for the quarter ending 31 December 2021 was 150.67% as against 132.11% for the quarter ended on 31 December 2020 and 173.57% for the quarter ended on 30 September 2021.

Gross funded assets aggregated to Rs 1,22,289 crore as on 31 December 2021, up 10.70% YoY and up 4.28% QoQ.

The bank's housing loans book grew by 44.2% YoY as of 31 December 2021. Mortgage backed businesses grew 27.4% YoY as of 31 December 2021. Mortgages backed businesses constitute 38.5% of the retail, commercial and rural banking business as of 31 December 2021.

Infrastructure Financing de-grew by 30.6% YoY as of 31 December 2021 and now constitutes 6.6% of the total funded assets as of 31 December 2021 as compared to 10.5% as of 31 December 2020.

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 30 September 2021, the bank has 599 branches and 720 ATMs (including recyclers) across the country.

The bank reported 49.6% rise in net profit to Rs 151.74 crore on a 19.3% increase in total income to Rs 4,880.29 crore in Q2 FY22 over Q2 FY21.

The scrip shed 0.91% to currently trade at Rs 49.20 on the BSE.

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