 "IDFC Bank")
IDFC First Bank advanced 1.24 per cent to Rs 65.50 after the bank’s total business (loans & advances and customer deposits) jumped 25.2 per cent from Rs 3,65,956 crore as of 31 December 2023 to Rs 4,58,213 crore as of 31 December 2024.
Loans & advances increased 21.9 per cent to 2,30,947 crore as of 31 December 2024 as compared with 1,89,475 crore as of 31 December 2023.
Customer Deposits stood at 2,27,266 crore as of 31 December 2024, up 28.8 per cent as compared with Rs 1,76,481 crore as of 31 December 2023.
Casa Deposits jumped 32.3 per cent to 1,13,091 crore as of 31 December 2024 as compared with 84,492 crore as of 31 December 2024. Casa ratio stood at 47.8 per cent as of 31 December 2024 as against 46.8 per cent as of 31 December 2023 and 48.9 per cent as of 30 September 2024.
Credit-Deposit (CD) Ratio stood at 95.7 per cent as of December 31, 2024 as compared to 101.4 per cent as of December 31, 2023 and 97.7 per cent as of September 30, 2024.
IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, Internet and mobile. The bank provides customized financial solutions to corporate, individuals, small and micro enterprises (SMEs), entrepreneurs, financial institutions and the government.
The bank’s standalone net profit declined 73.3 per cent to Rs 200.69 crore despite 21.6 per cent jump in total income to Rs 10,684.23 crore in Q2 FY25 over Q2 FY24.
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