IDFC FIRST Bank Merger Performance and Strategy Update
a. CASA Deposits
Section 5: Deposits & Borrowings
CASA Deposits - Bank has a demonstrated capability to grow CASA deposits
In May 2021, we reduced deposit rates for balances upto Rs. 10 lacs by 300 bps from 7% to 4%. Despite this, our CASA deposit growth continues
to be strong, growth of 27% YOY as of 30 June 2023.
The Bank provides high levels of customer service and is a brand with a reputation as a clean and ethical institution, which has helped us grow our
deposit base.
YoY-Jun-23 vs Jun-22
ā27%
QoQ-Jun-23 vs Mar-23^
ā 3%
Driven by granular retail CASA
4-Year CAGR: 74%
51,170
45,896
7,893
5,544
5,274
20,661
71,983
in Rs. crore
71,765
31 Mar 18
(Pre-Merger)
31 Dec 18
31 Mar 19
31 Mar 20
31 Mar 21
31 Mar 22
31 Mar 23
30 Jun 23
(At Merger)
^ Excluding the outflow of Rs. 2,131 crore from one large government banking current account (as already called out in Q4-FY23 results)
23
IDFC FIRST
BankView entire presentation