Page 3 - Idfc First Bank

Select private sector banks in focus; IDFC First, RBL, AU SFB rally upto 6%

Analysts on private banks: Overall, asset quality outlook is stable to positive, except for the unsecured retail loans and MFI segment; but it appears that stress in unsecured segment has peaked out.

Will work through it: IDFC First Bank responds to Warburg board seat denial

Shareholders approve fund infusion by Warburg and ADIA but reject proposal allowing Currant Sea Investments to nominate a non-executive director to the bank's board

IDFC First Bank shareholders reject Warburg Pincus board nomination

A special resolution to allow Warburg Pincus affiliate Currant Sea Investments to nominate a non-executive director failed to get the required 75% shareholder approval

IDFC Bank shareholders reject resolution for Warburg Pincus board seat

The special resolution received 64.1 per cent of the votes, falling short of the required 75 per cent threshold for it to pass

IDFC First Bank shareholders reject Warburg Pincus arm's board seat bid

IDFC First Bank on Monday said its shareholders have rejected the proposal to allow global private equity firm Warburg Pincus' arm to nominate a non-executive director on the bank board. Last month, IDFC First Bank board had approved a preferential equity issue of about Rs 4,876 crore to Currant Sea Investments BV, an affiliate company of investor Warburg Pincus LLC. Following that, the bank sought shareholders' nod through postal ballot to amend the Articles of Association of the bank. It sought their approval to provide a right to Currant Sea Investments BV(or any of its assignees) to nominate one non-retiring non-executive director by way of a special resolution. As per the results of the postal ballot disclosed to the stock exchanges on Monday, only 64.10 per cent of the votes were in favour of the resolution, while 35.90 per cent were against it. "... The special resolution... has not been passed due to lack of requisite majority," IDFC First Bank said in a BSE filing. Under

Warburg Pincus seeks CCI approval to buy 10% stake in IDFC First Bank

Private equity major Warburg Pincus has sought fair trade regulator CCI's approval to acquire 10 per cent stake in private sector lender IDFC First Bank. US-based Warburg Pincus through its arm Currant Sea Investments BV will acquire the stake in IDFC First Bank. "The acquirer (Currant Sea Investments B V) proposes to acquire up to 9.99 per cent of the paid up share capital (on a fully diluted basis) of the target (IDFC First Bank) by way of subscription to 81,26,94,722 compulsorily convertible cumulative preference shares," a notice filed with the CCI said on April 28. The deal has been notifiable to the Competition Commission of India under Section 5(a)(i)(A) of the Competition Act, 2002, it added. IDFC First Bank is engaged in the business of providing banking services as well as other financial solutions. The notice also said that Platinum Invictus B 2025 RSC Ltd, an arm of Abu-Dhabi Investment Authority (ADIA) plans to subscribe to 43.72 crore preference shares in IDFC First

Microfinance provisions peaked in Q4, says IDFC First Bank MD and CEO

Provisions against microfinance segment have peaked in Q4FY25

IDFC First Bank profit falls 58% on worsening asset quality of micro loans

Fresh slippages during the quarter was Rs 2,175 crore including Rs 572 crore from the micro loan book, as compared to Rs 4195 crore and Rs 437 crore

IDFC First Bank gets ₹7,500 crore investment from Warburg Pincus, ADIA

Fundraise 4th-largest by an Indian private-sector lender

Warburg Pincus, ADIA units to invest $877 million in IDFC FIRST Bank

The entities will invest the funds for a combined 15 per cent stake in the mid-sized private lender which has 971 branches

IDFC First Bank slips 4% after board approves ₹7,500 crore fund raise

The bank's board approved preferential issue of equity capital (CCPS) amounting to ₹7,500 crore to Currant Sea Investments B.V. and Platinum Invictus B 2025 RSC.

Boost your savings: Unlock higher interest rates with IDFC FIRST Bank savings accounts

.

Delhivery, Tata Elxsi: Trading strategies in stocks that hit 52-week lows

A total of 195 stocks hit fresh 52-week lows in intra-day trades on the BSE; off which among the top 500 shares Delhivery and Emcure Pharmaceuticals hit new all-time lows on Wednesday.

IDFC First Bank slips 8% after posting Q3 nos; net profit declines 53% YoY

The company's overall provisions, excluding tax doubled to Rs 1,338 crore from Rs 655 crore in the same quarter a year ago

IDFC First Bank Q3FY25 results: Net profit falls 53% to Rs 339 cr

IDFC First Bank on Saturday reported 53 per cent decline in net profit at Rs 339 crore for the third quarter ended December 2024 on increased provisions due to higher slippages of loans. The private sector lender had earned a net profit of Rs 716 crore in the same quarter a year ago. Total income increased to Rs 11,123 crore during the quarter from Rs 9,396 crore in the same period a year ago, IDFC First Bank said in a regulatory filing. Interest income increased to Rs 9,343 crore from Rs 7,879 crore a year ago. On the asset quality front, the bank's gross non-performing assets ratio improved to 1.94 per cent from 2.04 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.52 per cent from 0.68 per cent at the end of the third quarter last fiscal. However, overall provisions, excluding tax doubled to Rs 1,338 crore from Rs 655 crore in the same quarter a year ago. Provisions coverage ratio on non-performing loans was 78.2 per cent as on December 31, 2024. The gr

RBI expected to transfer another bumper payout to govt, say analysts

The RBI makes an annual payout to the government from the surplus income it earns on investments and valuation changes on its dollar holdings

IDFC First Bank gains after total biz climbs 25% to Rs 4.58 trillion

IDFC First Bank advanced 1.24% to Rs 65.50 after the bank's total business (loans & advances and customer deposits) jumped 25.2% from Rs 3,65,956 crore as of 31 December 2023 to Rs 4,58,213 crore as of 31 December 2024.

Govt plans to borrow Rs 3.9 trillion via treasury bills in Q4FY25

Market participants said that the gross borrowing amount was higher than expected

IDFC First slumps 10% after posting a 72% slip in its net profit in Q2FY25

IDFC First Bank's consolidated profit slipped 71.6 per cent to Rs 211.94 crore from Rs 746.85 crore a year ago

IDFC First Bank Q2FY25 results: Net profit falls 73% to Rs 201 cr

IDFC First Bank on Saturday posted a 73 per cent decline in its standalone profit to Rs 11,746 crore in the second quarter ended in September 2024. The private sector lender had earned a net profit of Rs 751 crore in the same quarter a year ago. However, total income increased to Rs 10,684 crore during the quarter under review against Rs 8,786 crore in the same period last year, IDFC First Bank said in a regulatory filing. The bank reported interest income of Rs 8,957 crore during the quarter compared to Rs 7,356 crore in the same period a year ago. Provisions for Q2 FY25 stood at Rs 1,732 crore, primarily on account of prudent provisioning buffer of Rs 568 crore, the bank said in a statement. Net Interest Income (NII) improved to Rs 4,788 crore, from Rs 3,950 crore in the second quarter of the previous year. As regards asset quality, the bank witnessed improvement with gross Non-Performing Assets (NPAs) declining to 1.92 per cent of the gross loans by the end of September 2024 fr