IDFC First Bank Sheds 1% After Consumer Deposits Rise 35% In June Quarter

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Shares of IDFC First Bank were last trading 1.56 per cent lower at Rs 53.60 on the BSE.

Share price of IDFC First Bank declined over one per cent on Tuesday, July 6, a day after the bank reported that its consumer deposits had increased in the April-June quarter of the financial year 2021-22. On Tuesday, IDFC First Bank opened on the BSE at Rs 54.45, inching to an intra day high of Rs 54.65, and an intra day low of Rs 53.50, in the trading session so far. IDFC First Bank’s consumer deposits in the first quarter of the current fiscal year grew to 35.53 percent to Rs 84,583 crore, compared to Rs 62,409 crore in the corresponding period last year.

IDFC First Bank’s CASA ratio stood at 51.04 per cent, compared to 33.74 percent in the year-ago period, according to a regulatory filing by the bank to the stock exchanges. The bank’s consumer deposits grew 2.25 per cent quarter-on-quarter, as it stood at Rs 82,725 crore in the January-March quarter of fiscal 2020-21.

The gross funded assets grew 9.02 per cent to Rs 1,13,434 crore in the June quarter, compared to Rs 1,04,050 crore in the year-ago period. IDFC First Bank added in its statement that the retail funded assets recorded a de-growth of one per cent during the first quarter of the current fiscal, compared to the preceding fourth quarter of fiscal 2021.

On the NSE, IDFC First Bank opened at Rs 54.60, registering an intra day high of Rs 54.65 and an intra day low of Rs 53.55, in the session so far. It was last trading 1.47 per cent lower at Rs 53.65 on the NSE.
Shares of IDFC First Bank were last trading 1.56 per cent lower at Rs 53.60 on the BSE.



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