Page 4 - Idfc First Bank

High investor interest propels IDFC First Bank's stock to new highs

Lender's financial performance has been robust but high valuations may cap further gains

IDFC First Bank at over 6-yr high; zooms 47% in 2 months on stable outlook

In the past two months, the stock of IDFC First Bank has zoomed 47 per cent on a stable outlook

Liquidity surplus crosses Rs 1.75 trillion-mark on higher govt spending

The process to withdraw the Rs 2,000 note started from May 23

IDFC First Bank hits 52-week high; soars 6% on two-fold jump in Q4 net

The bank's Q4 net zoomed 134 per cent to Rs 802.62 crore from Rs 342.73 crore in the year ago period.

IDFC First Bank expects NIM to be stable from here on

In FY23, IDFC First bucked the industry trend of a decline in CASA share in total deposits

IDFC First Bank Q4 profit after tax more than doubles to Rs 803 crore

Private sector lender IDFC First Bank on Saturday reported a 134 per cent jump in profit after tax (PAT) to Rs 803 crore for the March 2023 quarter, driven by strong growth in core operating income. The bank's net profit was Rs 343 crore in the year-ago period. "Net Profit for the year stood at Rs 2,437 crore compared to Rs 145 crore in FY22," the lender said in a statement. The bank's core operating profit grew by 61 per cent year-on-year to Rs 1,342 crore. The bank has registered its highest-ever quarterly profit in Q4 FY23 and highest-ever yearly profit in 2022-23. Net Interest Income (NII) for the year grew 30 per cent to Rs 12,635 crore in FY23 from Rs 9,706 crore in FY22. On a quarterly basis, NII grew 35 per cent to Rs 3,597 crore in the January-March period of 2022-23 from Rs 2,669 crore in the fourth quarter of FY22. Gross non-performing advances improved to 2.51 per cent in the fourth quarter from 3.7 per cent in the year-ago period, as per the bank's filing on ...

IDFC First Bank partners Crunchfish to demonstrate offline retail payments

IDFC First Bank on Monday said it has partnered with Swedish company Crunchfish to pilot a project to demonstrate offline retail payments. IDFC First Bank, is set to be a part of RBI's pilot project to enable offline payments, the private sector lender said, adding that the project will give access to digital payments even when there is no network. The unique digital payment solution was designed by Crunchfish for merchants and customers under the RBI's Regulatory Sandbox Program, IDFC First Bank said in a release. "This project will provide support for offline retail payments based on a Digital Cash platform to the payment ecosystem of India. IDFC FIRST Bank will be one of the first few banks to be a part of this pilot project by HDFC Bank," it said. The application was approved by the RBI to demonstrate offline payments between two banks. The Development and Demonstration Agreement which is a non-commercial agreement has now been signed to give IDFC First Bank access to the Digit

IDFC First Bank to issue 377.5 million share to IDFC Financial Holding

This comes after IDFC Ltd decided to infuse Rs 2,200 crore into the bank as growth capital

IDFC First Bank to raise Rs 2,196 cr via preferential allotment of shares

IDFC First Bank on Saturday said its board has approved allotment of 37.75 crore shares to a subsidiary of IDFC on preferential basis for Rs 2,196 crore. Equity shares of face value of Rs 10 each fully paid-up, on a preferential basis will be issued IDFC Financial Holding Company Limited at a price of Rs 58.18 per unit, including premium of Rs 48.18 per share, IDFC First Bank said in a regulatory filing. The proposal is subject to acceptance of the offer by the board of IDFC and approval of the shareholders of the bank, it said.

IDFC twins gain more than 5% on Rs 2,000-crore capital infusion

At a meeting held on Wednesday, IDFC's board gave an in-principle approval to infuse Rs 2,000 crore "growth capital" into IDFC First Bank

IDFC Ltd to invest Rs 2,200 crore in IDFC First Bank, up its stake to 40%

IDFC board declares special interim dividend of Rs 11 per share; Govt of India, the firm's largest shareholder, to receive Rs 287 cr payout

ICICI Bank, RBL, Axis, IDFC First raise deposit rates to meet credit growth

Revisions mainly introduced for high-value deposits of Rs 2 cr and above; Continuous rate hikes over time raise concern about sustainability of healthy net interest margins

Stocks to watch: ICICI Bank, RIL, UltraTech, Adani Ent, SBI Life, Petronet

Stocks to Watch: Shares of Axis Bank, Canara Bank, IDBI, Jindal Stainless and Tata Communications will be in focus ahead of Q3 results on Monday.

IDFC First Bank announces waiver of charges on customer-centric services

Private sector IDFC First Bank has announced waiver of charges on a number of customer-centric services such as cash deposits, withdrawals, demand drafts, IMPS and SMS alerts, among others ahead of its Foundation Day on Sunday. On the occasion of its Foundation Day on 18th December, IDFC First Bank has announced 'Zero-fee banking' on savings accounts, the bank said in a release on Saturday. The lender said it has waived fees on 25 commonly used banking services related to savings accounts such as cash deposit and withdrawal at branches, third party cash transactions, demand drafts, IMPS, NEFT, RTGS, cheque book, SMS alerts, interest certificates, insufficient balance for ATM transactions, international ATM usage and so on. Customers maintaining as low as Rs 10,000 average monthly balance and Rs 25,000 AMB in savings accounts will be offered these services free of cost. This will benefit all customers, and particularly those with lesser financial literacy who find it difficult to ..

CBDC more anonymous than traditional e-transactions: IDFC First Bank CEO

In CBDC, the core banking will have a one-time debit for currency purchase, but all subsequent transactions, which move from wallet to wallet

Retail CBDC pilot starts Dec 1, to be tested in 4 banks, 4 cities initially

RBI says digital rupee for retail segment will be in the form of a digital token that represents legal tender, to be issued in same denominations as paper currency and coins

Rupee sheds 21p to dollar as Polish missile strike sparks risk aversion

Wider October trade deficit, contraction in exports drag down rupee

Edelweiss to slash wholesale loan book to Rs 2,900 crore in 2 years

In a filing with BSE, the company said improved macro environment and sell-down capabilities were driving faster book reduction

RBI's e-rupee pilot takes off; Day 1 bond trade deals hit Rs 275 crore

SBI, BoB hammer out first gilt deal using digital rupee; 48 transactions carried out

IDFC First Bank Q2 net profit jumps 266% to Rs 556 cr; NII climbs 32%

IDFC First Bank on Saturday reported a 266 per cent jump in its net profit at Rs 556 crore for the quarter ended September 2022 on the back of strong growth in core operating income. The private sector lender had posted a net profit of Rs 152 crore in the same quarter a year ago. Its core operating income (excluding trading gains) rose by 35 per cent from a year ago to Rs 3,947 crore in Q2 of 2022-23 fiscal year, it said in a regulatory filing. Net interest income climbed 32 per cent at Rs 3,002 crore, while fee and other income spurted by 44 per cent to Rs 945 crore in the September quarter of FY23. Total income in the three months to September rose to Rs 6,531.03 crore as against Rs 4880.29 crore in the same period of 2021-22. Asset quality was better with gross non-performing assets (NPA) coming down to 3.18 per cent of the gross advances as of end-September 2022 from 4.27 per cent a year ago. Net NPAs were also down at 1.09 per cent as against 2.19 per cent. The bank said it