Money & Banking

IDFC First Bank reports 41% rise in Q3 customer deposits

Our Bureau. Mumbai | Updated on January 06, 2021

IDFC First Bank reported a 41 per cent increase in customer deposits in the third quarter of the fiscal, with retail deposits surging by 100 per cent on a year-on-year basis.

“Customer deposits of the bank increased to ₹77,289 crore as on December 31, 2020, from ₹54,631 crore as on December 31, 2019 (year-on-year growth of 41 per cent). This was ₹69,368 crore as on September 30, 2020 (quarter-on-quarter growth of 11 per cent),” it said

Retail deposits (CASA and term deposits) of the bank increased to ₹58,435 crore at the end of the third quarter, registering a 100 per cent growth over ₹29,267 crore a year ago, and an 18 per cent increase from ₹49,610 crore in the second quarter of the fiscal.

However, the overall funded assets of the bank increased by just 0.7 per cent to ₹1,10,499 crore as on December 31, 2020, from ₹1,09,698 crore in the same period last fiscal. This was at ₹1,06,828 crore as on September 30, 2020, registering a quarter-on-quarter growth of 3 per cent.

Published on January 06, 2021

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