Idfc Bank

UBS Group buys IDFC shares worth Rs 88 cr through open market transaction

Swiss financial services company UBS Group on Wednesday bought shares of IDFC Ltd for Rs 88 crore through an open market transaction. According to the bulk deal data available with the NSE, UBS through its arm UBS Principal Capital Asia purchased 81,48,705 shares or 0.51 per cent stake in IDFC Ltd. The shares were acquired at an average price of Rs 107.92 apiece, taking the transaction value to Rs 87.94 crore. Details of the sellers of IDFC's shares could not be ascertained on the National Stock Exchange (NSE). Shares of IDFC fell 1.09 per cent to close at Rs 108.78 apiece on the NSE. Last month, IDFC First Bank announced the completion of the merger of IDFC Ltd with the bank. Post the amalgamation, there will be a simplified corporate structure at the Bank with no holding company. In July 2023, IDFC First Bank announced the merger of its parent IDFC Ltd with itself in an all-stock transaction, marking another major deal in the Indian banking space days after the amalgamation of

RBI approves re-appointment of V Vaidyanathan as IDFC First Bank's MD & CEO

He took over as the MD and CEO of IDFC First Bank in December 2018, following the merger of Capital First and IDFC Bank

IDFC FIRST Bank revises credit card payment terms: Check details

The changes are effective September 2024, as per the IDFC FIRST Bank website

Warburg Pincus exits IDFC First Bank, sells entire stake for Rs 1,195 cr

Private equity major Warburg Pincus on Thursday sold its entire 2.25 per cent stake in private sector lender IDFC First Bank for Rs 1,195 crore through an open market transaction. Warburg Pincus offloaded the shares of IDFC First Bank through its affiliate Cloverdell Investment Ltd on the BSE. According to the bulk deal data available with the BSE, Cloverdell Investment sold more than 15.88 crore shares of IDFC First Bank. The shares were disposed of at an average price of Rs 75.24 apiece, taking the deal size to Rs 1,195.21 crore. As of December 2023, Warburg Pincus through its affiliate holds a 2.25 per cent stake in Mumbai-headquarted IDFC First Bank, shareholding data showed with the BSE. Details of the buyers of shares could not be ascertained. On Thursday, shares of IDFC First Bank plunged 3.11 per cent to close at Rs 75.39 apiece on the BSE. In January, IDFC First Bank reported an 18 per cent growth in net profit to Rs 716 crore in the third quarter ended December 31, 202

India's weightage climbs to highest level on MSCI Global Standard index

This marks "a significant increase over the past three years, almost doubling its weight," Nuvama Alternative & Quantitative Research said in a note

CCI approves merger of IDFC Ltd with its subsidiary IDFC FIRST Bank

Fair trade regulator Competition Commission of India (CCI) on Tuesday approved the merger of IDFC Ltd with IDFC FIRST Bank. IDFC FIRST Bank is in the business of providing banking services, while its parent IDFC Ltd (IDFCL) is an RBI-registered non-banking financial company. The deal is subject to conditions, including the merger of IDFC Financial Holding into IDFC Ltd in the first step and subsequently, the amalgamation of IDFCL with IDFC FIRST Bank. Further, CCI also approved the cancellation of the existing shares held by IDFC Financial Holding in IDFC FIRST Bank and then the issue of new shares of the bank to IDFCL's shareholders. IDFC Financial Holding is a non-operative financial holding company registered with the Reserve Bank of India (RBI). The Competition Commission said it has approved the deal under the green channel route. "There are no horizontal overlaps or vertical/complementary linkages between the business activities of the parties in the country. "Given the a

IDFC First Bank's MD and CEO V Vaidyanathan to raise stake in bank

GQG Partners acquires shares of IDFC First Bank through block deal

IDFC First Bank makes digital rupee app interoperable with UPI QR codes

IDFC First Bank on Monday announced the integration of UPI QR codes with its Central Bank Digital Currency (CBDC) app aimed to enhance the adoption of digital rupee and boost its utilisation. Being one of the banks that are a part of RBI's CBDC initiative for retail users, this new feature will simplify payment acceptance for merchants, enabling them to seamlessly accept payments made with digital rupee, IDFC First Bank said in a statement. Moreover, it said, individuals can effortlessly make payments using digital rupee through existing UPI QR codes at various merchants. The UPI interoperability feature will dramatically enhance the adoption of CBDC across the country, IDFC First Bank executive director Madhivanan Balakrishnan said. The digital rupee is an initiative by the Reserve Bank of India launched last year. This digital form of legal tender is issued by the central bank and shares the essential attributes of physical currency, such as trustworthiness, security, and ...

IDFC FIRST Bank net profit increases by 61% at Rs 765 cr in June quarter

IDFC FIRST Bank on Saturday said its net profit rose by 61 per cent year-on-year to Rs 765 crore in the April-June quarter this year mainly driven by strong growth in core operating income. The bank's net profit for the April-June quarter of 2022-23 was Rs 474 crore. "Core operating profit (pre-provision operating profit excluding trading gains) grew strongly by 45 per cent Y-o-Y from Rs 987 crore in Q1-FY23 to Rs 1,427 crore for the quarter Q1-FY24," the bank said in a statement. The bank's net interest income (NII) grew 36 per cent to Rs 3,745 crore in the first quarter of the current fiscal compared to Rs 2,751 crore in the year-ago period. Its Gross NPA improved to 2.17 per cent as of June 30, 2023, from 3.36 per cent as of end-June 2022. Net NPAs of the bank improved to 0.70 per cent at end-June 2023 from 1.30 per cent at June 30, 2022. Commenting on the result, V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, "We continue to build a strong franchise with a h

Liability management now top priority for lenders: Private bank CEOs

Private bankers said there were signs that the credit demand was durable and as such the landscape for banks' management of assets and liabilities would remain challenging for quite some time

Liquidity slips into deficit; RBI cash injections at over one-month high

Tax outflows drive tightness; banks face pressure to raise deposit rates

Buoyed by firm demand, HDFC Bank mulls fresh Rs 5,000-cr Tier 2 bond sale

The quantum raised through Tier 2 bonds is set to rise much further in coming days as Axis Bank is slated to sell Rs 12,000 crore of such instruments on Friday

Selecting a target maturity fund based on your horizon and risk appetite

Constitution of underlying indexes doesn't matter since all the three categories of bonds they invest in are safe

Banks jump on the ONDC bandwagon to draw synergy from the network

Nine banks have picked up stake in the Open Network for Digital Commerce (ONDC) network

HDFC Bank, IDFC First hike MCLR post repo rate hike by Reserve Bank

Most banks have revised their external benchmark linked loan rates by 50 bps

IDFC likely to announce sale of mutual fund business today evening

A consortium led by Bandhan Financial Holdings is leading the race to acquire IDFC mutual fund business.

IDFC First Bank board favours merger with promoter entities

Earlier in July, the Reserve Bank of India allowed IDFC Ltd to exit as the promoter of IDFC First Bank as the five year lock-in period ended

Veteran Banker Romesh Sobti set to join Aditya Birla Capital board

Rehauling of business strategy is presently underway; set to approach the RBI for banking license once final guidelines is released

Telecom to oil firms: Q2 results give no clear sign of broad revival

The economy is on the mend but sustained recovery will take time: that's the picture you get by studying the July-September quarter results of 1,286 listed companies. Devangshu Datta reads the numbers

Differentiated bank holdco norms on cards; Bandhan, IDFC First may benefit

Lenders that do not have subsidiaries in insurance, asset management, and broking may be exempt from having a non-operative financial holding company (NOFHC).