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IDFC First Bank Ltd - 539437 - Board Meeting Outcome for Outcome Of The Board Meeting Held On November 04, 2022

 This has reference to our earlier letter dated November 01, 2022.. In this connection and with the intent to further strengthening the balance sheet of the Bank and in order to sustain the growth plans of the Bank, the Board, at its meeting held today, has considered and approved the Capital Raise Plan of the Bank for the next one year, for an amount aggregating up to Rs. 4,000 Crore, to be raised in one or more tranches at an appropriate time, by way of issuance of equity shares/ Tier 1 Capital ('Capital Raise'), in accordance with the provisions of the applicable laws, subject to approval of the Shareholders of the Bank and regulatory / statutory approvals, and any other approvals as may be required.
04-11-2022

Niva Bupa and IDFC First Bank partner for bancassurance

 Through this partnership Niva Bupa will provide best-in-class health insurance solutions to IDFC First Bank's customers.
03-11-2022
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IDFC First Bank Ltd - 539437 - Announcement under Regulation 30 (LODR)-Credit Rating

 Pursuant to Regulation 30 of the SEBI Listing Regulations, we wish to inform that CRISIL Ratings Limited ('CRISIL') have re-affirmed its 'CRISIL AA' rating on the Tier II Bonds (Under Basel III) of IDFC FIRST Bank Limited ('Bank') amounting to ? 5,000 Crore and revised the outlook from 'Stable' to 'Positive'. The CRISIL has also re-affirmed 'CRISIL A1+' rating on the Bank's existing Certificate of Deposits amounting to ? 45,000 Crore.
01-11-2022
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IDFC First Bank Ltd - 539437 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

 This is to inform you that the 'Allotment, Transfer & Routine Matters Committee' of IDFC FIRST Bank Limited ('Bank') has on November 01, 2022, approved the allotment of 1,00,00,000 equity shares of face value of ? 10/- each fully paid-up to Mr. V. Vaidyanathan, MD & CEO, upon exercise of stock options vested with him under the Employee Stock Option Scheme of the Bank ('IDFC FIRST Bank ESOS').
01-11-2022
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Niva Bupa and IDFC FIRST Bank partner for Bancassurance

 The first Banca partnership for Niva Bupa this fiscal, said MD & CEO Ramachandran
01-11-2022
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IDFC First Bank Ltd - 539437 - Board Meeting Intimation for Intimation Of The Board Meeting

 IDFC First Bank Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/11/2022 ,inter alia, to consider and approve In accordance with the SEBI Listing Regulations, notice is hereby given that a meeting of the Board of Directors of the Bank is scheduled to be held on Friday, November 04, 2022, inter-alia, to consider Capital Plan of the Bank for the next one year and to explore raising of capital through various permissible modes, in accordance with the provisions of the applicable laws, subject to shareholders' approval, regulatory and any other approvals as may be required.
01-11-2022
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IDFC First Bank Ltd - 539437 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript

 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please find attached the transcript of the earnings call for the quarter and half year ended September 30, 2022 conducted after the meeting of Board of Directors held on October 22, 2022, for your information and records. The above information is also available on the Bank's website at the following link: https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/financial-results/Concall-Transcript-Q2-FY23.pdf
28-10-2022

Buy IDFC First Bank; target of Rs 70: ICICI Direct

 ICICI Direct is bullish on IDFC First Bank recommended buy rating on the stock with a target price of Rs 70 in its research report dated October 23, 2022.
26-10-2022
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Q2FY23 Quarterly Result Announced for IDFC First Bank Ltd.

 IDFC First Bank announced Q2FY23 results: NII grew by 32% on YoY basis to Rs. 3,002 crore in Q2FY23. Net Interest Margin improved by 15 bps on YoY basis to 5.98% in Q2FY23. Fee and Other Income grew by 44% YoY to Rs. 945 crore in Q2FY23. Core operating income (excl. trading gains) grew by 35% YoY to Rs. 3,947 crore in Q2FY23 Core operating profit (excl. trading gains) grew by 84% YoY to Rs. 1,052 crore in Q2FY23 Provisions were lower by 11% YoY basis at Rs. 424 crore in Q2FY23 at 1.2% (annualized) of average funded assets. Net Profit grew by 266% on YoY basis to Rs. 556 crore in Q2FY23. ROA (annualized) reached 1.07% and ROE (annualized) reached 10.13% in Q2FY23 Mr. V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, “We have built a strong foundation at the bank over the past three years. This includes a strong retail liabilities franchise with strong CASA ratio of 50% and great service standards. Our philosophy of ethical banking and high levels of corporate governance are also our pillars. I believe we can grow from here on in a stable manner.” “Our profit after tax has grown consistently for the 5th consecutive quarter, reflecting the resilience of our franchise. I am happy to share that we have posted the highest-ever profit in the history of the Bank this quarter at Rs. 556 crore, driven by strong growth in core operating income. We are confident of sustaining this trend as the new lines of businesses launched, such as cash management, wealth management, FASTag, credit cards, are at the start of the journey and have immense potential going forward. “ “On the asset quality front, we have a long track record of 12 years of maintaining our retail gross NPA and net NPA at around 2% and 1% respectively through the economic slowdown in 2010-2014, Demonetisation in 2016, GST implementation in 2017, and ILFS crisis in 2018-19. I am happy to share that even after COVID, the retail asset quality has reverted to long term sustainable levels with GNPA of 2.03% and NNPA of 0.73% as of September 30, 2022.” Going forward, we are optimistic about maintaining our growth momentum on the basis of strong foundations we have built at the Bank.” Result PDF
25-10-2022

IDFC First Bank stock gives over 101% returns in 4 months; Should you buy after Q2 results?

 IDFC First Bank's Q2FY23 numbers were strong with a growth of 266% in profitability to 556 crore compared to a profit of 152 crore in the same period last year. The PAT was driven by robust growth in core operating income.
24-10-2022
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