IDFC First Bank’s profit after tax for Q3 FY25 was Rs 339 crore
Mumbai Mumbai. IDFC First Bank has reported strong financial performance for the third quarter of FY25, with profit after tax (PAT) at Rs 339 crore and core operating profit growing by 15% YoY. The Bank witnessed significant growth across key areas, including 28.8% growth in customer deposits and 22% growth in loans and advances. Despite challenges in the microfinance sector, the Bank’s asset quality remains stable, supported by a solid capital position following its recent mergers.
Financial Results
IDFC First Bank today announced unaudited financial results for the quarter and nine months ended December 31, 2024.
Deposits and Lending
-Customer deposits grew 28.8% YoY to Rs 1,76,481 crore as of December 31, 2023 from Rs 2,27,316 crore as of December 31, 2024.
Deposits and Lending
-Customer deposits grew 28.8% YoY to Rs 1,76,481 crore as of December 31, 2023 from Rs 2,27,316 crore as of December 31, 2024. – Retail deposits grew 29.6% y-o-y from Rs 1,39,431 crore as of December 31, 2023 to Rs 1,80,752 crore as of December 31, 2024.
- CASA deposits grew 32.3% y-o-y from Rs 85,492 crore as of December 31, 2023 to Rs 1,13,078 crore as of December 31, 2024.
- CASA ratio stood at 47.7% as of December 31, 2024.
- Retail deposits account for 80% of total customer deposits as of December 31, 2024.
- Cost of funds for the bank was 6.49% in Q3-FY25. Excluding high-cost legacy borrowings, cost of funds was 6.43% in Q3-FY25. Cost of deposits remained stable at 6.38% as compared to Q2 FY25.
Other Businesses
- Credit cards issued by the Bank crossed the 3.2 million mark during the previous quarter.
- Wealth Management AUM (including deposit balances) grew 53% YoY to reach Rs 42,778 crore
- FASTag: The Bank continues to be the largest issuer with issuance of 22 million FASTags.
- Tax Collection: The Bank is empanelled to collect Direct Taxes on behalf of Central Board of Direct Taxes (CBDT) and GST collection on behalf of Central Board of Indirect Taxes and Customs (CBIC), Government of India. The Bank has completed technical integration and has started collecting taxes.
