IDFC First Bank Q3 Results, Net Profit Fall 53%
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IDFC First Bank Q3 Results are out now. IDFC First Bank Reported a 340 Crores Net Profit which is 53% lower than the Last year’s 732 Crores. IDFC First Bank also reported the highest-ever Quarterly Income of 11,122 Crores.
IDFC First Bank Customer Deposits increased 28.8% YOY from Rs. 1,76,481 crore as of December 31, 2023, to Rs. 2,27,316 crore as of December 31, 2024. Bank Retail Deposits grew by 29.6% YOY from Rs. 1,39,431 crore as of December 31, 2023, to Rs. 1,80,752 crore as of December 31, 2024.
IDFC First Bank CASA Deposits grew by 32.3% YOY from Rs. 85,492 crore as of December 31, 2023, to Rs. 1,13,078 crore as of December 31, 2024. Bank’s Loans and Advances increased by 22.0% YOY from Rs. 1,89,475 crore as of December 31, 2023, to Rs. 2,31,074 crore as of December 31, 2024
IDFC First Bank’s Gross NPA was 1.94% as of December 31, 2024, against 2.04% as of December 31, 2023. Bank’s Net NPA was 0.52% as of December 31, 2024, against 0.68% as of December 31, 2023
Also Read: HDFC Bank Q3 Result, 16,736 Crores Profit
Mr. V Vaidyanathan, Managing Director and CEO, of IDFC FIRST Bank, said, “Our bank continues to grow well on loans and deposits. Our customer deposits are growing at 29% YoY to reach Rs. 2,27,316 crores, with the CASA ratio sustaining at 48%. The loans & advances grew by 22% YoY to reach Rs. 2,31,074 Crores.”
He also added that “All other businesses being built as part of universal banking, including deposits, loans, Credit Cards, Wealth, Cash Management, Corporate Banking, Fastag, and Gold Loans are doing well”
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