IDFC FIRST Bank appoints Jaimini Bhagwati on board as additional director

IDFC FIRST Bank on Friday said its board has approved the appointment of former economist and IFS officer Jaimini Bhagwati as an additional director on its board for three years.
18-02-2022
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IDFC First Bank Ltd - 539437 - Announcement under Regulation 30 (LODR)-Change in Directorate

We wish to inform that in accordance with the applicable provisions of the Listing Regulations and the Companies Act, 2013 and based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Bank has approved the appointment of Dr. Jaimini Bhagwati (DIN: 07274047), as an Additional Director, in the category of Non-Executive Non-Independent Director of the Bank, for a period of 3 consecutive years with effect from February 18, 2022, subject to approval of the shareholders. Dr. Jaimini Bhagwati is an Independent Director of IDFC Limited. Further, Dr. Jaimini Bhagwati is not related to any of the Directors of the Bank and is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other Regulatory/ Statutory authority. A brief profile of Dr. Jaimini Bhagwati is enclosed herewith.
18-02-2022
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IDFC First Bank Ltd - 539437 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

Pursuant to the provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we wish to inform that the Allotment, Transfer & Routine Matters Committee of the Bank has on February 17, 2022, approved the allotment of 9,59,040 fully paid up equity shares of ? 10 each to the allottees, upon exercise of stock options under the IDFC FIRST Bank Employee Stock Option Scheme. These equity shares shall rank pari passu, in all respects with the existing equity shares of the Bank. With the allotment of the above shares, the equity base of the Bank stands increased from present level of to 6,21,66,90,070 (Nos.) to 6,21,76,49,110 (Nos.) Equity Shares of ? 10/- each.
18-02-2022
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IDFC First Bank Ltd - 539437 - Intimation Of Sad Demise Of Chief Risk Officer (CRO) Of The Bank And Appointment Of New CRO

With profound grief, we regret to inform about the untimely demise of Mr. Pankaj Sanklecha, Chief Risk Officer of the Bank, early morning on February 08, 2022 due to ill health. Our Bank places on record its sincere appreciation for the leadership, contribution and valuable guidance provided by Mr. Sanklecha during his tenure at the Bank. All the Directors and employees of the Bank convey deep sympathy, sorrow and condolences to his family. The Bank has appointed Mr. Chetan Sanghvi as the Chief Risk Officer, in accordance with the succession plan of the Bank, as per the due process as required under the applicable laws. He has been appointed for a minimum period of three years with effect from February 08, 2022. A brief profile of Mr. Sanghvi is attached.
09-02-2022
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IDFC First Bank Ltd - 539437 - Announcement under Regulation 30 (LODR)-Allotment

We would like to inform that the duly authorized Committee of the Board at its meeting held today has approved the allotment of 1500 Unsecured, Subordinated, Rated, Listed, Non-Convertible, Fully Paid-Up, Taxable, Redeemable, Basel III, compliant Tier 2 Bonds (in the nature of Debentures) for a face value of Rs. 1 Crore each for cash aggregating to Rs. 1,500 Crores on Private Placement basis, as per the details set out in Attachment enclosed.
08-02-2022

Earnings Call for Q3FY22 of IDFC First Bank

Conference Call with IDFC First Bank Management and Analysts on Q3FY22 Performance and Outlook. Listen to the full earnings transcript.
02-02-2022
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Buy IDFC First Bank; target of Rs 65: ICICI Direct

ICICI Direct is bullish on IDFC First Bank has recommended buy rating on the stock with a target price of Rs 65 in its research report dated January 31, 2021.
01-02-2022
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IDFC First Bank Ltd - 539437 - IDFC FIRST Bank Limited - Update On Earnings Call (Q3-FY22)

In continuation to our letter no. IDFCFIRSTBANK/SD/272/2021-22 dated January 25, 2022, the audio replay of earnings call on the financial results for the period ended December 31, 2021, has been uploaded over our website and is available on https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/financial-results/ICI0420220129139622-audio.mp3.
31-01-2022
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Q3FY22 Quarterly Result Announced for IDFC First Bank Ltd.

Banks IDFC First Bank declares Q3FY22 result: IDFC FIRST Bank Q3 FY22 Profit After Tax up 117% YoY at Rs 281 crore Net Profit grew by 117% YoY basis to reach Rs 281 crore in Q3FY22 Core operating profit (excluding trading gains) grew by 54% YoY to reach Rs. 745 crore NII grew by 36% on a YoY basis to reach Rs 2,580 crore in Q3FY22. NIM stood at 5.90% excluding interest income pertaining to prior period for one telecom account. Including the same, NIM is at 6.18% for the quarter Fee and Other Income grew by 13% QoQ and 28% YoY to reach Rs 744 crore in Q3FY22 Core operating income (excl. trading gains) grew by 34% YoY to Rs. 3,324 crore in Q3FY22 Provisions other than tax were lower by 32% YoY basis at Rs 392 crore in Q3FY22 CASA balance: Grew by 18% YoY basis to reach Rs 47,859 crore CASA ratio: 51.59% as of Dec 31, 2021, as compared to 48.31% as of Dec 31, 2020 Avg. CASA Ratio: 50.54% as on Dec 31, 2021, as compared to 44.66% as on Dec 31,2020 Customer Deposits: Grew by 11% YoY to reach Rs 85,818 crore Mr. V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, “The business conditions are normalising. We are seeing strong growth in credit once again; our home loan business has grown by 44% year-on-year. For the last three years, we have been laying a strong foundation by building a strong deposit base, increasing CASA%, dealing with legacy loans, and scaling up core operating profits. Our net interest margin is strong at 5.9%. We have now begun to see the benefit of this work in terms of profitability “The strength of our business model is seen from the fact that, while the loan book has grown by only 17% since the merger quarter to December 2021, the core operating profits has grown by over 100% during the same period. This increase in profitability demonstrates the power of the bank’s business model. All our credit indicators, including cheque bounces, collections, recovery, vintage analysis show that the credit performance is improving. Based on these analysis, we would like to improve our guidance for credit costs next year FY 23 to 1.5% of the funded assets, absence of any lockdowns.” Result PDF
30-01-2022
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