Private sector lender IDFC Bank, which started its banking operations at the start of this month, has said its networth stands at Rs 13,322 crore. In an email sent to its shareholders it also said the bank has a balance sheet size of Rs 73,447 crore.
Post demerger, the networth of IDFC is Rs 9,580 crore and its portfolio of businesses include 53 per cent stake in IDFC Bank, 75 per cent stake in IDFC Asset Management Company, 100 per cent stake in IDFC Securities, 100 per cent stake in IDFC Alternatives and as of now, 100 per cent stake in IDFC Infrastructure Debt Fund.
The lender launched its banking operations with 23 branches out of which 15 are rural branches in Madhya Pradesh. IDFC also stated that the book value of IDFC share is Rs 60.10 and that of IDFC Bank share is Rs 39.11.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.