IDFC First Bank surges on reporting 20.6% growth in customer deposits in Q1FY23

IDFC First Bank is currently trading at Rs. 33.95, up by 1.60 points or 4.95% from its previous closing of Rs. 32.35 on the BSE.

IDFC First Bank
IDFC First Bank

The scrip opened at Rs. 32.60 and has touched a high and low of Rs. 34.50 and Rs. 32.60 respectively. So far 6672766 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 54.80 on 12-Jul-2021 and a 52 week low of Rs. 28.95 on 22-Jun-2022.

Last one week high and low of the scrip stood at Rs. 34.50 and Rs. 30.60 respectively. The current market cap of the company is Rs. 21082.70 crore.

The promoters holding in the company stood at 36.49%, while Institutions and Non-Institutions held 27.26% and 36.24% respectively.

IDFC First Bank has posted 20.6% growth in customer deposits at Rs 1,02,363 crore for the first quarter ended June 30, 2022 (Q1FY23) as compared to Rs 84,893 crore in Q1FY22. Gross Funded Assets stood at Rs 1,37,685 crore at the end of the first quarter of 2022-23. CASA Ratio stood at 50.3% as of June 30, 2022 as compared to 48.4% as of March 31, 2022.

CASA Deposits stood at Rs 56,794 crore as of June 30, 2022, posting a 22.3% rise in year-on-year (YoY) terms against Rs 46,439 crore as of June 30, 2021 and in quarter-on-quarter (QoQ) basis stood at Rs 51,170 crore in March 2022.

IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.

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