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IDFC First Bank has released business updates for the second quarter of FY 2025. The bank has registered a 32 per cent increase in deposits and 21 per cent increase in loan growth year-on-year. The bank said that it has recorded strong growth in key financial metrics for the quarter ended September 30, 2024. Loans and advances grew 21.3 per cent year-on-year, from Rs 1.83 lakh crore as of September 30, 2023 to Rs 2.22 lakh crore this year.
Customer deposits saw even higher growth, up 32.2 per cent year-on-year. Total deposits as of September 30, 2024 stood at Rs 2.17 lakh crore, up from Rs 1.64 lakh crore last year. The bank also recorded a sharp rise in its Current Account Savings Account (CASA) deposits, which grew 37.6 per cent year-on-year to Rs 1.09 lakh crore. The CASA ratio has increased to 48.9 per cent from 46.4 per cent in the same period last year.
Stock Performance On Friday, the company's stock closed at Rs 72.00 with a gain of 0.028 per cent. The company's stock has declined by 21.53 per cent in the last one year. The 52-week high of the stock is Rs 93.50.
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