IDFC First Bank
- IDFC First Bank was established in October 2015 and It was formed by the merger of IDFC Bank and Capital First Ltd., which was announced in January 2018
- The bank has expanded to more than 600 branches across India.
- It offers a wide range of services including consumer banking, credit cards, home loans, personal loans, vehicle loans, business loans, and wealth management.
- IDFC First Bank is known for being the first universal bank in India to offer Monthly interest credit on savings accounts and lifetime free credit cards with dynamic and low annual percentage rates
IDFC First Bank at a glance
- The company has been consistently maintaining a NIM of 5.28% since last 3 years.
- CASA stands at 49.77% of total deposits.
- Good Capital Adequacy Ratio of 16.82%.
- The company has delivered good Profit growth of 41.79% over the past 3 years.
- Strong Advances growth of 21.04% in the last 3 years.
On 10th Apr, CMP : 84.70; Target : 87.7 – 95 – 100
IDFC First Bank is recognized for pioneering a faceless and branchless banking model
This approach allows for efficient, round-the-clock banking services accessible from anywhere, reducing the need for customers to visit a branch in person. It’s part of a broader trend in the banking industry towards digital transformation and providing customers with more convenient and accessible services.
MARKET CAP:₹ 59,882.26 Cr. || P/E:19.73 || EPS : 4.29 || ROE :10.44 % ||ROCE:9.09%
