IDFC First reports 41 pc jump in Q3 deposits

Mumbai (Maharashtra) [India], January 6 (ANI): Private sector lender IDFC First Bank said on Wednesday its deposits increased to Rs 77,289 crore as on December 31, 2020 from Rs 54,631 crore a year ago, marking a growth of 41 per cent.
The figure was Rs 69,368 crore as on September 30, 2020.
Retail deposits (CASA and term deposits) doubled to Rs 58,435 crore at the end of Q3 from Rs 29,267 crore as on December 31, 2019 and Rs 49,610 crore as on September 30.
But wholesale deposits decreased to Rs 18,854 crore from Rs 25,364 crore in the same period. The top 20 depositors as a percentage of customer deposits also reduced from 23 to 9.7 and 12.4 on September 30.
The average CASA ratio for Q3 FY21 was 44.6 per cent as compared to 20.9 per cent for Q3 FY20 and 36.5 per cent for Q2 FY21. CASA ratio on outstanding deposits as on December 31 was 48.4 per cent.
Overall funded assets of the bank increased to Rs 1.1 lakh crore from Rs 1.09 lakh crore. Retail funded assets increased to Rs 66,635 crore from Rs 53,685 crore, marking a year-on-year growth of 24.1 per cent.
IDFC First Bank was founded by the merger of IDFC Bank and Capital First in December 2018. It has 464 bank liability branches, 104 full-service asset branches, 356 ATMs and 652 rural business correspondent centres across the country. (ANI)

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