On December 18, IDFC Bank completed its merger with Capital First to form IDFC First Bank. V Vaidyanathan, founder chairman of Capital First, will be the managing director and chief executive officer of the merged entity that will start operations with a combined loan book of Rs 1.03 trillion.
IDFC Bank was carved out of the erstwhile term-lending institution IDFC Ltd. in October 2015, being one of two entities to get a full-service bank licence from the Reserve Bank of India (RBI) in a decade. But the bank had a bloated balance sheet from legacy term loans, which it wanted to