The Bank's profitability is expected to improve over the medium term as the bank establishes its retail franchise and the economies of scale help improve operational efficiency
Retail business comprised 66.4 per cent of overall funded assets as of September 30, says private lender
Asset quality of the loans booked during last 1 year, on a like-to-like vintage comparison basis, is performing better than prior vintage periods, indicating improvement in asset quality going forward
The Indian rupee could decline to 82.50 against the dollar by March, driven by the greenback's surge and the country's balance of payment deficit, IDFC First Bank said in a research note
Petroleum, fertiliser imports to become expensive, subsidy bill set to rise
Coal India, City Union Bank, Cummins, IDFC First Bank and Piramal Enterprises are the five F&O stocks tha can deliver up to 21 per cent returns in the September series.
The bank's NII grew by 26 per cent YoY, and the asset quality also improved considerably.
Lender sees growth in new gold loan business and it is scaling up wealth management unit, he says
Bank says the economic impact of the coronavirus is diminishing to help its asset quality, lending
IDFC First Bank on Saturday posted over two-fold rise in net profit to Rs 343 crore in the March 2022 quarter on the back of strong core operating income and lower provisioning for bad loans.
So far, the story reads well. We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth
IDFC First Bank MD and CEO V Vaidyanathan has gifted 5 lakh shares of the bank held by him to family members of a deceased colleague, as per a regulatory filing. Vaidyanathan had earlier too gifted his shares to staff members, including his trainer, househelp and driver, to help them purchase homes. "V Vaidyanathan, Managing Director & CEO, has gifted 5,00,000 equity shares of IDFC FIRST Bank held by him to certain family members of a deceased colleague who was closely known to him for a long time, towards backing their education and for their financial security," the bank said in a regulatory filing on Thursday.
Hero Electric said it has joined hands with IDFC FIRST Bank for vehicle finance.
In addition, the bank said Rukmani Social Welfare Trust has disposed of 2 lakh equity shares to support social activities
IDFC FIRST Bank on Friday said its board has approved the appointment of former economist and IFS officer Jaimini Bhagwati as an additional director on its board for three years.
LIC corners 60% of maiden issue
Its net interest income grew by 36% on a YoY basis to reach Rs 2,580 cr in Q3FY22
It had posted a net profit of Rs 101 crore in the second quarter of the last financial year (Q2FY21)
Bank's provisioning for bad loans and contingencies were raised substantially for the September 2021 quarter at Rs 474.95 crore as bad loans moved up
According to the technical analyst from Anand Rathi, TCS has corrected from its all-time high and is hovering near its 61.80 percent Fibonacci retracement suggesting strong support levels