IDBI Bank on October 04 reported a 15% year-on-year growth in its total business, which rose to ₹4.78 lakh crore for the quarter ending September 2024. The bank’s net advances saw a substantial jump of 19%, reaching ₹2.01 lakh crore, up from ₹1.68 lakh crore in the same quarter last year.

Total deposits increased by 11% to ₹2.77 lakh crore, compared to ₹2.49 lakh crore a year ago, driven by both term and CASA (current and savings account) deposits.

CASA deposits, a key indicator of the bank’s low-cost deposit strength, grew modestly by 4% to ₹1.33 lakh crore. However, the slight dip from ₹1.34 lakh crore in the previous quarter suggests the need for further attention in maintaining CASA momentum.

Also read: IDFC First Bank Q2 Update: Deposits jump 32%, loans grow 21% on-year

These figures are provisional and subject to statutory audit.

This overall growth is in line with broader trends seen in the Indian banking sector. IDFC First Bank and Federal Bank, which also released their Q2 FY25 updates today, demonstrated similar performance trajectories.

IDFC First Bank reported an impressive 32% growth in deposits, reaching ₹1.58 lakh crore, along with a 21% increase in loans.

Also read: Federal Bank Q2 Update: Deposits surge 16%, advances grow by 19% on-year

Federal Bank posted a 16% rise in deposits and a 19% growth in advances, similar to IDBI’s figures, underscoring the steady demand for credit across the sector.