IDFC First Bank shares rose over 4% on Thursday, touching a day high of Rs 88.10, after pulling in a large chunk of NRI dollar deposits.

The bank mobilised around $3.57 billion, or roughly Rs 33,975 crore, from non-resident Indian customers through the Reserve Bank’s FCNR deposit scheme.

That amount works out to about 11% of the bank’s entire deposit base as of the end of June.

The rupee figures are based on the exchange rate as of August 31, and the bank has flagged that these numbers are still provisional and haven’t been audited yet. Part of these dollar inflows didn’t just sit as deposits either.

The bank’s IFSC Banking Unit used them to lend out around $2.60 billion, or about Rs 24,720 crore, during the same period. The bank has been busy on the fundraising front more broadly.

Earlier in August, it priced a $500 million three-year international bond, then upsized it to $600 million just a day later.

Add a fresh $350 million issuance on top of that, and IDFC First Bank has raised a total of $950 million through international bonds in under a week.

These bonds are set to be listed on the Vienna Multilateral Trading Facility and on exchanges in India’s international financial centre.

On the core business side, the bank’s loan book grew 20.6% year on year to Rs 3,05,488 crore as of June, while total deposits climbed 17.7% to Rs 3,11,874 crore. Its CASA ratio, a measure of low cost deposits, improved to 50.8%.

The stock closed at Rs 87.50 on the NSE on Thursday, up 2.83% for the day. IDFC First Bank shares have gained close to 24% over the past year.

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