IDFC First Bank's Q2 Loan And Advances Grow 21.3% To Rs 2.22 Lakh Crore

IDFC First Bank Ltd.'s loan and advances grew 21.3% year-on-year to Rs 2.22 lakh crore in the July-September quarter of fiscal 2025. This compares to Rs 1.83 lakh crore in the same quarter of the previous financial year, according to provisional numbers disclosed to exchanges.

The customer deposits of the lender surged to Rs 2.17 lakh crore, denoting a 32.2% growth for the quarter ended Sept. 30 in financial year 2025. This compares to Rs 1.64 lakh crore for the same quarter of fiscal 2024.

"The bank grows deposits at a relatively high pace as compared to loan growth, as the bank also raises funds for repaying legacy borrowings," the filing said.

Current account savings account deposits grew by 37.6% year-on-year to reach Rs 1.09 lakh crore, suggesting the CASA ratio of 48.9% as of Sept. 30, 2024.

Further, the merger of IDFC Ltd. into IDFC First Bank has been completed and is effective from Oct. 1, 2024. As a result, IDFC First Bank is an independent institution with no promoters holding any shares, the filing said.

Public shareholders hold 43.78%, while foreign institutional investors acquired 27.84%, domestic institutional investors obtain 19.27% and the government of India holds 9.11% of the merged bank.

On Sept. 19, IDFC First Bank got RBI's approval to reappoint V. Vaidyanathan as the managing director and chief executive officer of the bank.

Vaidyanathan will serve in the position for a term of three years starting from Dec. 19, 2024, to Dec. 18, 2027.

Shares of IDFC First Bank closed 0.21% lower at Rs 71.83 apiece, compared to a 0.93% fall in the benchmark NSE Nifty.

The stock has fallen 21.71% in the last 12 months and 19.2% year-to-date. The relative strength index was 41.01.

Out of 21 analysts tracking the company, 12 maintain a 'buy' rating, seven recommend a 'hold' and two suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 17.4%.