India's IDFC First Bank rises on strong FY loan and deposit growth

IDFC First Bank

03/04/2025 08:23

April 3 - ** Shares of IDFC First Bank IDFB.NS climb 3.2% to 59 rupees
** Private lender's loans and advances grows 20.3% y/y to 2.01 trillion rupees ($23.47 bln) as on March 31

** Bank's customer deposits rises 25.2% y/y to 1.94 trillion rupees as on March 31
** Stock heads for biggest weekly gain since week-ended June 12, 2023; up 7.8% for the week so far
** More than 94.2 mln shares traded, ~3x its 30-day moving avg
** Avg rating of 16 analysts covering the stock is "hold" and median PT is 67.5 rupees, ~14% higher than current price - data compiled by LSEG
** IDFB trims YTD losses to ~6%

($1 = 85.6500 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))