IDFC First Bank Q3 deposits grow over 10%, housing loans book up by 44%
Premium- Shares of IDFC First Bank declined more than 1% at ₹49 apiece in Tuesday's afternoon deals on the BSE
IDFC First Bank on Tuesday shared its Q3 update in which the lender's total deposits registered a growth of 10.48% to ₹85,387 crore (provisional) as compared to ₹77,289 crore from the year-ago quarter. Shares of IDFC First Bank declined more than 1% at ₹49 apiece in Tuesday's afternoon deals on the BSE.
The Bank’s CASA ratio was at 51.85% as of December 31, 2021 and CASA Ratio as computed on Daily Average Balance basis was 50.54% for Q3FY22. Meanwhile, the bank's housing loans book grew by 44.2% YoY during the quarter under review.
Mortgage backed businesses grew 27.4% year-on-year (YoY) as of December 31, 2021. Mortgages backed businesses constitute 38.5% of the Retail, Commercial and Rural banking business as of December 31, 2021. Infrastructure Financing de-grew by 30.6% YOY and now constitutes 6.6% of the total funded assets as compared to 10.5% as of December 31, 2020.
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“Effective December 31, 2021, the Bank will disaggregate businesses into retail loans, commercial loans, rural loans, infrastructure loans and corporate loans for greater visibility of underlying portfolio and report the same," IDFC First Bank said in an exchange filing today.
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