IDFC First Bank gained 5.78% to Rs 52.20 after the total customer deposits rose 35.9% to Rs 1,14,004 crore as on 30 September 2022 as against Rs 83,889 crore as on 30 September 2021.
The customer deposits increased 10.8% last quarter compared with Rs 1,02,868 crore as on 30 June 2022.CASA ratio was 51.34% as on 30 September 2022 as compared with 50.04% as on as on 30 June 2022. CASA deposits stood at Rs 63,378 crore as on 30 September 2022, up 11.7% QoQ and up 37% YoY.
Gross funded assets aggregated to Rs 1,45,322 crore as on 30 September 2022, up 24.8% YoY and up 5.6% QoQ.
Retail business (home loans, loan against property, vehicles, credit cards, and other personal credit) represents 66.4% of the overall funded assets as on 30 September 2022.
Mortgage business including home loans grew by 29% on a YoY basis and constituted 36.9% of the retail book. Infrastructure Loans de-grew by 40.9% YoY basis as on 30 September 2022. Infrastructure loans as a percentage of total funded assets further reduced from 4.9% as of 30 June 2022 to 4.1% as of 30 September 2022.
The bank's borrowings was nearly flat year on year to Rs 40,609 crore as of 30 September 2022 from Rs 40,592 crore while increased 4.1% sequentially from Rs 39,026 crore.
The bank said that the key input parameters of asset quality such as cheque/ NACH bounces on presentation, which are indicators of future asset quality of advances continued to improve. Asset quality of the loans booked during last 1 year, on a like-to-like vintage comparison basis, has performed better than prior vintage periods, indicating improvement in asset quality going forward.
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IDFC First Bank is an Indian Private Sector Bank that forms part of IDFC, an integrated infrastructure finance company. The bank started operations on 1 October 2015, after receiving a universal banking licence from the Reserve Bank of India in July 2015.
The bank reported a net profit of Rs 474 crore in Q1 FY23 as against a net loss of Rs 630 crore in Q1 FY22. Total income increased by 17% YoY to Rs 5,777 crore in Q1 FY23.
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