How IDFC First bank will become Multibagger
IDFC First Bank was formed by the merger of the erstwhile IDFC Bank and Capital First in 2018. Retailisation of its business has been the key focus.
Retail and commercial funded assets form 72% of total funded assets
Branch network is at 641 as on March 2022
Q4FY22
Q4FY22 Results: IDFC First Bank reported a healthy operational performance.
GNPA down 27 bps QoQ to 3.7%; gross slippages at ₹ 1400 crore
NII up 36.2% YoY, NIMs up 37 bps QoQ to 6.27%, C/I steady at 76%
Provisions down 36% YoY; PAT up 128% YoY to ₹ 342.7 crore
Funded assets up 12.7% YoY at ₹ 1.3 lakh crore, retail grew 28% YoY
Mr. V. Vaidyanathan is the first Managing Director and CEO of IDFC FIRST Bank, a bank founded by the merger of Capital First and IDFC Bank in December 2018.
With over two decades in financial services in India, V. Vaidyanathan has seen India through many lens - first as a banker (1990-2000, Citibank), (2000-2009, ICICI Bank), then as an entrepreneur (2010-2019, Capital First) and a professional banker again (2019- date, after merging Capital First with IDFC Bank). He worked with Citibank Consumer Banking from 1990-2000, then set up ICICI Group's retail banking from 2000-2009 since its inception, built ICICI Bank's branch network to 1411 branches and 28 million customers, built a large CASA and retail deposits franchise, and built the retail lending businesses including mortgages, auto loans, credit cards and personal credit businesses to Rs. 1.35 trillion($30 bn). He was appointed at the Board of ICICI Bank in 2006 at age 38. In 2009, he became the MD and CEO of ICICI Prudential Life Insurance Company in India.