The private sector bank's total customer deposits increased 35.53% to Rs 84,583 crore as on 30 June 2021 as against Rs 62,409 crore as on 30 June 2020.
Sequentially, the bank's deposits have risen 2.25% as on 30 June 2021 from Rs 82,725 crore as on 31 March 2021.CASA deposits of the bank soared 97.73% to Rs 46,449 crore at the end of 30 June 2021 from Rs 23,491 crore on 30 June 2020. CASA ratio improved to 51.04% on 30 June 2021 from 33.74% in 30 June 2020. Average CASA ratio as of 30 June 2021 stood at 50.27% compared with 50.23% as of 31 March 2021 and 32% as of 30 June 2020.
Depositors' Concentration (Rs. <=5 crore) stood at 81.88% at the end of 30 June 2021 compared with 64.81% on 30 June 2020. Gross funded assets grew by 9.02% to Rs 113,434 crore as of 30 June 2021 from Rs 104,050 crore as of 30 June 2020.
Retail Funded Assets de-grew by 1% during Q1 FY22 as compared to the Q4 FY21. Retail Funded Assets, including the PSL Buyouts where the underlying assets are retail in nature, constitutes 68% of the overall Funded Assets as of 30 June 2021
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 reported 79% jump in net profit to Rs 128 crore in Q4 FY21 from Rs 72 crore in Q4 FY20. Total income during the quarter increased by 5.6% year-on-year (YoY) to Rs 4,834.01 crore.
The scrip was down 0.92% at Rs 53.95 on BSE.
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