Stock Report

IDFC FIRST Bank Limited - Q1 FY2023-24 Business Updates

Posted On : 2023-07-05 13:13:45( TIMEZONE : IST )

IDFC FIRST Bank Limited has announced business updates with respect to the Quarter ended June 30, 2023. Figures as of June 30, 2023, are provisional and subject to audit undertaken by the statutory auditors of the Bank.

- Loans and Advances grew from Rs. 1,37,663 crores as of 30-June-2022 to Rs. 1,71,420 crores as of 30-June-2023, YoY growth of 24.5%. The QoQ growth was 6.7%.

- Customer Deposits grew from Rs. 1,02,868 crores as of 30-June-2022 to Rs. 1,48,508 crores as of 30- June-2023, YoY growth of 44.4%. The QoQ growth was 8.6%.

- CASA deposits increased by 26.7% on a Y-o-Y basis.

- Excluding the outflow of one large government banking current account (as already called out in Q4-FY23 results) the QoQ growth of Customer Deposits was 10.3%, and QoQ growth of CASA was 2.9%.

- CASA Ratio stood at 46.5% as of June 30, 2023, as compared to 49.8% as of March 31, 2023, as incrementally during Q1 FY 24, the Bank raised more fixed deposits than CASA deposits.

- The Bank continues to maintain high asset quality parameters in its loan book.

- The Bank maintained average Liquidity Coverage Ratio at 125.4% for the quarter ended on 30 June 2023.

Loans and Advances include credit substitutes.

Shares of IDFC First Bank Limited was last trading in BSE at Rs. 78.65 as compared to the previous close of Rs. 81.94. The total number of shares traded during the day was 6226435 in over 17236 trades.

The stock hit an intraday high of Rs. 81.94 and intraday low of 77.10. The net turnover during the day was Rs. 489490077.00.