'IDFC First Bank conducted a conference call on 25 January 2025 to discuss its financial results for the quarter ended December 2024. V. Vaidyanathan, MD&CEO of the bank addressed the call:
Highlights:
The bank has posted strong 29% growth in deposits to Rs 227316
crore end December 2024 from Rs 176481 crore end December 2023. Retail Deposits
grew by 29.6% yoy to Rs 180752 crore end December 2024 from Rs 139431 crore end
December 2023.
CASA Deposits grew by 32.3% yoy to Rs 113078 crore end
December 2024 from Rs 85492 crore end December 2023.
CASA Ratio stood at 47.7% end December 2024. Retail Deposits
constitute 80% of total customer deposits end December 2024.
Cost of Funds for the Bank was 6.49% in Q3FY25. Excluding
the high-cost legacy borrowings, the cost of funds was 6.43% in Q3FY25. The
cost of deposits remained stable at 6.38% over Q2FY25.
The credit card issued by the bank crossed the 3.2 million
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