IDFC FIRST Bank reported a 10.70 per cent year-on-year (y-o-y) growth in gross funded assets to ₹1,22,289 crore as of December-end 2021 against ₹1,10,469 crore as of December-end 2020. During the third quarter (Q3) of FY22, the private sector bank’s gross funded assets rose by ₹5,019 crore.
Housing loans book grew by 44.2 per cent y-o-y as of December 31, 2021. Mortgage-backed businesses grew 27.4 per cent y-o-y as of December 31, 2021, the bank said in an exchange filing. Mortgages-backed businesses constituted 38.5 per cent of the retail, commercial and rural banking business as of December 31, 2021.
Loans share
Retail loans (including mortgages)and corporate loans & others accounted for 51.1 per cent and 23.7 per cent, respectively, of the funded asset book. Rural loans and commercial loans accounted for 9.8 per cent and 8.8 per cent, respectively, of the funded asset book.
Infrastructure financing de-grew by 30.6 per cent y-o-y as of December 31, 2021, and now constitutes 6.6 per cent of the total funded assets as of December 31, 2021, as compared to 10.5 per cent as of December 31, 2020.
Total customer deposits were up 10.48 per cent y-o-y to ₹85,387 crore as of December-end 2021 against ₹77,289 crore as of December-end 2020. During Q3, the bank’s total deposits increased by ₹1,498 crore.
The bank’s low-cost current account, savings account (CASA) aggregated to approximately ₹47,879 crore as of December 31, 2021, a growth of 18.04 per cent over ₹40,563 crore as of December 31, 2020. CASA ratio stood at 51.85 per cent as of December 31, 2021, as compared to 48.31 per cent as of December 31, 2020, and 51.28 per cent as of September 30, 2021.