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Published 11:35 IST, January 27th 2025

IDFC First Bank Q3 Core Operating Profit Up 15%, Other Details

V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, “Our bank continues to grow well on loans and deposits."

Reported by: Business Desk
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IDFC First Bank reports Q2 earnings
IDFC First Bank reports Q3 earnings | Image: IDFC First Bank

IDFC First Bank today announced the unaudited financial results for the quarter and nine months ended December 31, 2024.

V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, “Our bank continues to grow well on loans and deposits. Our customer deposits is growing strongly at 29 per cent YoY to reach Rs. 2,27,316 crores, with the CASA ratio sustaining at 48%. The loans & advances grew steadily by 22% YoY to reach Rs. 2,31,074 crores.”, he told PTI.

Deposits And Borrowings

Customer Deposits increased 28.8 per cent YOY from Rs. 1,76,481 crore as of December 31, 2023 to Rs. 2,27,316 crore as of December 31, 2024.

Retail Deposits grew by 29.6 per cent YOY from Rs. 1,39,431 crore as of December 31, 2023 to Rs. 1,80,752 crore as of December 31, 2024.

CASA Deposits grew by 32.3 per cent YOY from Rs. 85,492 crore as of December 31, 2023 to Rs. 1,13,078 crore as of December 31, 2024.

CASA Ratio stood at 47.7 per cent as of December 31, 2024.

Retail Deposits constitute ~80 per cent of total customer deposits as of December 31, 2024.

Other Businesses

Credit cards issued by the Bank crosses 3.2 million mark during last quarter.

Wealth Management AUM (including deposit balances) grew 53 per cent YoY to touch Rs. 42,778 crore.

Loans and Advances

Loans and Advances (including credit substitutes) increased by 22.0% YOY from Rs. 1,89,475 crore as of December 31, 2023 to Rs. 2,31,074 crore as of December 31, 2024.

The retail book of the bank grew by 21.3% YoY while the corporate (non-infrastructure) loans grew by 28.9% YoY at December 31, 2024.

NPA Details

Gross NPA was 1.94% as of December 31, 2024, against 2.04% as of December 31, 2023.

Net NPA was 0.52% as of December 31, 2024, against 0.68% as of December 31, 2023.

IDFC FIRST Bank was created by the merger of infrastructure financing Giant IDFC Bank and retail financing specialist Capital First in December 2018. Earlier, IDFC Bank launched commercial Banking operations in 2016.

Updated 11:35 IST, January 27th 2025