Tag: IDFC FIRST Bank

Mumbai, January 25, 2025.  IDFC FIRST Bank has reported a strong financial performance for Q3 FY25, with a Profit After Tax (PAT) of Rs. 339 crore and a 15% YoY increase in core operating profit. The bank saw significant growth in key areas, including a 28.8% rise in customer deposits and a 22% increase in loans and advances. Despite challenges in the microfinance sector, the bank’s asset quality remains stable, supported by a solid capital position following its recent merger.  Financial results IDFC FIRST Bank today announced the unaudited financial results for the quarter and nine months ended December 31, 2024. Deposits & Borrowings •  Customer Deposits increased 28.8% YOY from Rs. 1,76,481 crore as of December 31, 2023 to Rs. 2,27,316 crore as of December ...

Mumbai, January 02, 2025. IDFC FIRST Bank is proud to announce the launch of IDFC FIRST Academy, a comprehensive financial literacy initiative available through digital platforms. This Academy reflects the Bank’s mission to enhance financial literacy, enabling individuals to better manage their financial matters. Participants can easily access the courses of IDFC FIRST Academy at https://www.idfcfirstacademy.com on the browser of the desktop or the mobile. For IDFC FIRST Bank customers, it is also available on the mobile Banking App. IDFC FIRST Academy has simplified complex financial subjects in easy-to-understand bite-size modules with easy, expert-designed content for quick and effective learning. It has blogs, videos, and interactive quizzes for diverse lea...

Bangalore, November 13, 20224. IDFC FIRST Bank, today announced the launch of startup lounge an exclusive space designed to support entrepreneurs and empower early-stage startups in India. Located in Koramangala, Bangalore, this unique space aims to provide essential resources, mentorship, and networking opportunities for entrepreneurs looking to scale their businesses. On the occasion Mr. Bhavesh Jatania, Head Start-up Banking, IDFC FIRST Bank said, “We are excited to announce the IDFC FIRST Bank Start-up Lounge, a first of its kind initiative by a bank in India. The Start-up Lounge will serve as meeting and collaboration point, providing entrepreneurs a conducive environment to innovate and grow. IDFC FIRST Bank will also partner with leading incubators, accelerators, venture capit...

Mumbai, July 30, 2023. The Board of Directors of IDFC FIRST Bank, in its meeting held today, approved the unaudited financial results for the quarter ended June 30, 2023. Profitability Net Profit for Q1-FY24 grew 61% YOY from Rs. 474 crore in Q1-FY23 to Rs. 765 crore in Q1-FY24 driven by strong growth in core operating income. Core Operating Profit (pre provision operating profit excluding trading gains) grew strongly by 45% YOY from Rs. 987 crore in Q1-FY23 to Rs. 1,427 crore for the quarter Q1-FY24. Net Interest Income (NII) grew 36% YOY from Rs. 2,751 crore in Q1-FY23 to Rs. 3,745 crore in Q1- FY24. Net interest Margin (gross of IBPC and selldown) was 6.33% in Q1-FY24 as compared to 5.77% in Q1- FY23 and 6.41% in Q4-FY23 Fee and Other Income grew by 49% YoY from Rs. 899 c...