IDFC First Bank announced a strong performance for the quarter ending December 31, 2024, showcasing significant growth across its key financial metrics.
- Total Business: The bank’s total business, encompassing loans, advances, and customer deposits, rose from ₹3,65,956 crore as of December 31, 2023, to ₹4,58,213 crore by December 31, 2024, marking a 25.2% year-on-year (YoY) growth.
- Loans and Advances: Loans and advances surged by 21.9% YoY, from ₹1,89,475 crore to ₹2,30,947 crore. Quarter-on-quarter (QoQ) growth stood at 3.7%.
- Customer Deposits: Customer deposits demonstrated robust growth of 28.8% YoY, increasing from ₹1,76,481 crore to ₹2,27,266 crore. The QoQ growth was 4.2%.
- CASA Deposits: Current Account and Savings Account (CASA) deposits climbed by 32.3% YoY to ₹1,13,091 crore, improving the CASA ratio to 47.8%.
- Credit-Deposit Ratio: The bank successfully reduced its Credit-Deposit Ratio to 95.7%, reflecting its strategy to scale retail customer deposits and retire pre-merger bonds and borrowings.
The numbers highlight IDFC First Bank’s continued focus on sustainable growth and retail banking, reinforcing its competitive position in the market.
