Page 5 - Idfc First Bank

IDFC First Bank looks to raise Rs 2,000 crore in second half of FY24

IDFC First Bank has board approval to raise 40 billion rupees. It has already raised close to half that amount through a preferential allotment to IDFC Ltd

Travel credit card launched by IDFC FIRST Bank, Club Vistara, & Mastercard

The card will offer Club Vistara points, lounge benefits, annual rewards, golf benefits, and cover for cancelled flight and hotel bookings

Sensex soars 274 pts, Nifty near 19,400 as Bajaj Fin leaps 7%, Hero Moto 5%

Closing Bell on July 4, 2023: The rally was led by Bajaj Finance, Bajaj Finserv, Hero Moto, Tech M, TCS, Wipro, Sun Pharma, Kotak Bank, Infosys, Cipla, HCL Tech, SBI, HDFC twins, and ICICI Bank

IDFC surges 5%, IDFC First Bank slips 3% after board approves merger

Shareholders of IDFC Ltd will get 155 shares of IDFC First Bank for every 100 shares held in the former

Stocks to Watch on July 4: RIL, IndusInd, IDFC, Adani Transmission, DMart

Stocks to Watch today, on Tuesday: Reliance Jio, the telecom arm of Reliance Industries, has announced the launch of the internet-enabled 'JioBharat' phones, at a price of Rs 999

IDFC First Bank to merge with IDFC, makes India's largest corporate deal

The share exchange ratio will result in a premium of about 20 per cent on the closing market price of the shares of IDFC vis-a-vis IDFC First Bank as of June 30, 2023

IDFC FIRST Bank raises Rs 1,500 crore via Tier-2 bonds in domestic market

Face value of Rs 1 cr, coupon rate 8.4%; paper has a tenure of 10 years with call option at the end of five years

High investor interest propels IDFC First Bank's stock to new highs

Lender's financial performance has been robust but high valuations may cap further gains

IDFC First Bank at over 6-yr high; zooms 47% in 2 months on stable outlook

In the past two months, the stock of IDFC First Bank has zoomed 47 per cent on a stable outlook

Liquidity surplus crosses Rs 1.75 trillion-mark on higher govt spending

The process to withdraw the Rs 2,000 note started from May 23

IDFC First Bank hits 52-week high; soars 6% on two-fold jump in Q4 net

The bank's Q4 net zoomed 134 per cent to Rs 802.62 crore from Rs 342.73 crore in the year ago period.

IDFC First Bank expects NIM to be stable from here on

In FY23, IDFC First bucked the industry trend of a decline in CASA share in total deposits

IDFC First Bank Q4 profit after tax more than doubles to Rs 803 crore

Private sector lender IDFC First Bank on Saturday reported a 134 per cent jump in profit after tax (PAT) to Rs 803 crore for the March 2023 quarter, driven by strong growth in core operating income. The bank's net profit was Rs 343 crore in the year-ago period. "Net Profit for the year stood at Rs 2,437 crore compared to Rs 145 crore in FY22," the lender said in a statement. The bank's core operating profit grew by 61 per cent year-on-year to Rs 1,342 crore. The bank has registered its highest-ever quarterly profit in Q4 FY23 and highest-ever yearly profit in 2022-23. Net Interest Income (NII) for the year grew 30 per cent to Rs 12,635 crore in FY23 from Rs 9,706 crore in FY22. On a quarterly basis, NII grew 35 per cent to Rs 3,597 crore in the January-March period of 2022-23 from Rs 2,669 crore in the fourth quarter of FY22. Gross non-performing advances improved to 2.51 per cent in the fourth quarter from 3.7 per cent in the year-ago period, as per the bank's filing on ...

IDFC First Bank partners Crunchfish to demonstrate offline retail payments

IDFC First Bank on Monday said it has partnered with Swedish company Crunchfish to pilot a project to demonstrate offline retail payments. IDFC First Bank, is set to be a part of RBI's pilot project to enable offline payments, the private sector lender said, adding that the project will give access to digital payments even when there is no network. The unique digital payment solution was designed by Crunchfish for merchants and customers under the RBI's Regulatory Sandbox Program, IDFC First Bank said in a release. "This project will provide support for offline retail payments based on a Digital Cash platform to the payment ecosystem of India. IDFC FIRST Bank will be one of the first few banks to be a part of this pilot project by HDFC Bank," it said. The application was approved by the RBI to demonstrate offline payments between two banks. The Development and Demonstration Agreement which is a non-commercial agreement has now been signed to give IDFC First Bank access to the Digit

IDFC First Bank to issue 377.5 million share to IDFC Financial Holding

This comes after IDFC Ltd decided to infuse Rs 2,200 crore into the bank as growth capital

IDFC First Bank to raise Rs 2,196 cr via preferential allotment of shares

IDFC First Bank on Saturday said its board has approved allotment of 37.75 crore shares to a subsidiary of IDFC on preferential basis for Rs 2,196 crore. Equity shares of face value of Rs 10 each fully paid-up, on a preferential basis will be issued IDFC Financial Holding Company Limited at a price of Rs 58.18 per unit, including premium of Rs 48.18 per share, IDFC First Bank said in a regulatory filing. The proposal is subject to acceptance of the offer by the board of IDFC and approval of the shareholders of the bank, it said.

IDFC twins gain more than 5% on Rs 2,000-crore capital infusion

At a meeting held on Wednesday, IDFC's board gave an in-principle approval to infuse Rs 2,000 crore "growth capital" into IDFC First Bank

IDFC Ltd to invest Rs 2,200 crore in IDFC First Bank, up its stake to 40%

IDFC board declares special interim dividend of Rs 11 per share; Govt of India, the firm's largest shareholder, to receive Rs 287 cr payout

ICICI Bank, RBL, Axis, IDFC First raise deposit rates to meet credit growth

Revisions mainly introduced for high-value deposits of Rs 2 cr and above; Continuous rate hikes over time raise concern about sustainability of healthy net interest margins

Stocks to watch: ICICI Bank, RIL, UltraTech, Adani Ent, SBI Life, Petronet

Stocks to Watch: Shares of Axis Bank, Canara Bank, IDBI, Jindal Stainless and Tata Communications will be in focus ahead of Q3 results on Monday.