IDFC FIRST Bank Share Price Today

IDFC FIRST Bank is a modern Indian bank focused on ethical practices, digital services, and social good. It's unique for offering monthly interest on savings accounts and customer-friendly credit cards with no hidden fees, lifetime free usage, and non-expiring rewards. The bank uses advanced technology, including a feature-rich mobile app. This app helps customers manage personal finance, invest in mutual funds, make fast payments, and handle both personal and business banking needs. For businesses, it offers convenient payment options and integration with accounting systems.

IDFC FIRST Bank is committed to social banking, serving a wide range of customers including small businesses, farmers, and individuals. They have provided loans to millions of people for various purposes like buying cattle, improving homes, building toilets, purchasing vehicles, and supporting women entrepreneurs. They also offer rural-focused services like farmer credit cards and gold loans. You can track IDFC FIRST Bank’s share price on NSE as well as BSE.

As a full-service bank, IDFC FIRST provides corporate banking, international trade services, and treasury products. They support small and medium businesses, offer wealth management, and cater to non-resident Indians. The bank also handles specialised services like cash management, escrow accounts, and invoice financing. Overall, IDFC FIRST Bank aims to be a customer-friendly, technologically advanced bank that serves a broad spectrum of Indian society while maintaining ethical standards and promoting social good.

History of IDFC FIRST Bank

IDFC Limited was created in 1997 to help fund infrastructure projects. It focused on project finance and raising money for private infrastructure development. The company was good at connecting global and Indian money sources for infrastructure.

In 2005, Dr. Rajiv Lall joined IDFC and grew the business into new areas. In 2013, he applied for a banking licence. The next year, IDFC got approval to start a new private bank.

IDFC then split its infrastructure finance business into a new company called IDFC Bank in 2015. The bank launched in November that year. Over the next three years, IDFC Bank built strong systems, including IT, to grow its banking business.

The bank started with corporate banking but soon realised it needed to expand into retail banking to spread out risks and make more money. Retail banking required special skills and experience, so IDFC Bank looked for opportunities to merge with a retail lending partner.

This partner would ideally already have the size, profitability, and special skills needed in retail banking. The goal was to help IDFC Bank grow its retail business faster.

Key Personnel of IDBI FIRST Bank

V Vaidyanathan is the Managing Director and Chief Executive Officer at IDBI FIRST Bank.
Sanjeeb Chaudhari is the Part-Time Non-Executive Chairperson (Independent Director) in the Bank.
Pradeep Natarajan is the Executive Director at IDBI FIRST Bank>
The Independent Directors of the company are Aashish Kamat, Brinda Jagirdar, Matangi Gowrishankar, Pravir Vohra, and S Ganesh Kumar.
Jaimini Bhagwati, Mahendra N Shah and Vishal Mahadevia are the Non-Executive Non Independent Directors in the Bank.

Financial Performance of IDFC FIRST Bank

Net Profit for the fourth quarter FY24 of IDBI FIRST Bank stood at Rs 724 crore, down 10%.
IDFC FIRST Bank said in a Total income rose to Rs 9,861 crore from Rs 7,822 crore a year ago.
The Bank’s CRAR stood at 22.42% with YoY growth of 290 bps.

IDFC First Bank Ltd

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