 "IDFC Bank to merge with Capital First, Vaidyanathan to succeed Lall")
Private sector lender IDFC First Bank has posted a net loss of Rs 1,538 crore for the third quarter ended December 2018 (QFy19) due to accelerated amortisation of intangible assets (goodwill).
This was the first result of private banking entity after finance company Capital First with IDFC Bank in December 2018.
Bank in filing with BSE said Under section 15 of the Banking Regulation Act 1949, banks are restricted from declaring dividend if a bank carries intangible assets such as goodwill on its Balance Sheet. Hence, as a prudent measure, intangible assets (goodwill) acquired or arising on amalgamation have been fully amortised
