05 Oct , 2021 By : Kanchan Joshi
Announcing its second quarter (Q2) update for the current fiscal, IDFC First Bank said that its customer deposits have declined 1.3% on a sequential basis, however, are up 20.8% year-on-year (YoY) at Rs83,793 as of September 30, 2021.
The bank's CASA (current and savings accounts) deposits grew marginally on a quarterly basis & surged 55% YoY at rs46,783 crore during the quarter under review. IDFC First Bank's CASA ratio stood at 51.90% as compared to 50.86% QoQ and 40.37% YoY.
Its gross funded assets came at Rs117,243 crore (Gross of Inter Bank Participation Certificate) as of September end, up 9.75% from the year ago quarter.
The lender further informed that retail Funded Assets grew by 7% during Q2FY22 as compared to Q1-FY22, out of which Housing Loan registered strong QoQ growth of 11% and other retail loans registered QoQ growth of 6.3%.
Retail Funded Assets, including the PSL Buyouts where the underlying assets are retail in nature, constitutes 70% of the overall Funded Assets as of September 30, 2021. Within Retail Loans segment, mortgage backed loans now constitute 37.3% of the retail funded assets.
Shares of IDFC First Bank were trading over 0.5% higher at Rs47.9 per share on the BSE in Tuesday's second half of the trading session.
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