IDFC First Bank - Revision history

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	== See also ==		== See also ==
	~~{{Portal\|Banks}}~~
	* [[Banking in India]]		* [[Banking in India]]
	* [[List of banks in India]]		* [[List of banks in India]]

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← Older revision		Revision as of 19:29, 14 June 2022
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			{{Short description\|Indian bank}}
	{{Use dmy dates\|date=April 2020}}		{{Use dmy dates\|date=April 2020}}
	{{Infobox company		{{Infobox company
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	\| logo = IDFC First Bank logo.jpg		\| logo = IDFC First Bank logo.jpg
	\| logo_caption = ''Always You First''		\| logo_caption = ''Always You First''
	\| type = ~~[[Public]]~~		\| type = Private
	\| traded_as = {{BSE\|539437}}<br />{{NSE\|IDFCFIRSTB}}		\| traded_as = {{BSE\|539437}}<br />{{NSE\|IDFCFIRSTB}}
			\| ISIN = INE092T01019
	\| industry = [[Banking]]<br />[[Financial service]]s		\| industry = [[Banking]]<br />[[Financial service]]s
	\| founded = {{Start date and age\|2015\|10\|\|df=yes}}		\| founded = {{Start date and age\|2015\|10\|\|df=yes}}
	\| key_people = {{Unbulleted_list\|\|[[Rajiv Lall]]<br />{{small\|(Non-Exe. Chairman)}}<ref>{{cite web\|url=https://www.livemint.com/Companies/nN8S5UjphAe4EjLTxmZ0IM/=Capital-First-merges-with-IDFC-Bank-to-create-IDFC-First-Ban.html\|title=Miss.priya Gupta will be Non-Exe Chairman}}</ref>		\| key_people = {{Unbulleted_list\|\|[[Rajiv Lall]]<br />{{small\|(Non-Exe. Chairman)}}<ref>{{cite web\|url=https://www.livemint.com/Companies/nN8S5UjphAe4EjLTxmZ0IM/=Capital-First-merges-with-IDFC-Bank-to-create-IDFC-First-Ban.html\|title=Miss.priya Gupta will be Non-Exe Chairman\|date=19 December 2018 }}</ref>
	\|[[V. Vaidyanathan]]<br /> {{small\|([[Managing director\|MD]] & [[Chief executive officer\|CEO]])}} <ref>{{cite news\|url=https://www.moneycontrol.com/news/business/rbi-approves-appointment-of-v-vaidyanathan-as-md-ceo-of-idfc-first-bank-3409961.html\|title=RBI approves appointment of V Vaidyanathan as MD, CEO of IDFC FIRST Bank}}</ref>}}		\|[[V. Vaidyanathan]]<br /> {{small\|([[Managing director\|MD]] & [[Chief executive officer\|CEO]])}} <ref>{{cite news\|url=https://www.moneycontrol.com/news/business/rbi-approves-appointment-of-v-vaidyanathan-as-md-ceo-of-idfc-first-bank-3409961.html\|title=RBI approves appointment of V Vaidyanathan as MD, CEO of IDFC FIRST Bank}}</ref>}}
	\| products = {{Bulleted_list\|[[Retail banking\|Consumer banking]]\|[[Home loan]]s\|[[Retail banking\|Loans against property]]\|[[Personal loans]]\|[[Retail banking\|Consumer Durable loans]]\|[[Retail banking\|Vehicle loans]]\|[[Retail banking\|Business loans]]\|[[Retail banking\|Micro Enterprise loans]]\|[[Private banking]]\|[[Wealth management]]\|[[Investment banking]]\|[[Commercial bank\|Corporate banking]]\|[[Wholesale banking]]}}		\| products = {{Bulleted_list\|[[Retail banking\|Consumer banking]]\|[[Credit card]]s\|[[Home loan]]s\|[[Retail banking\|Loans against property]]\|[[Personal loans]]\|[[Retail banking\|Consumer Durable loans]]\|[[Retail banking\|Vehicle loans]]\|[[Retail banking\|Business loans]]\|[[Retail banking\|Micro Enterprise loans]]\|[[Private banking]]\|[[Wealth management]]\|[[Investment banking]]\|[[Commercial bank\|Corporate banking]]\|[[Wholesale banking]]}}
	\| revenue = {{increase}}{{INRConvert\|46.79\|b}} (Q3FY20)<ref name="BalSheet">[https://www.idfcfirstbank.com/content/dam/IDFCFirstBank/PDF/IDFC-FIRST-Bank-Investor-Presentation-Q3FY20-FINAL.pdf"].</ref>		\| revenue = {{increase}}{{INRConvert\|46.79\|b}} (Q3FY20)<ref name="BalSheet">{{cite web \| url=https://www.idfcfirstbank.com/content/dam/IDFCFirstBank/PDF/IDFC-FIRST-Bank-Investor-Presentation-Q3FY20-FINAL.pdf" \| title=IDFC First Bank }}</ref>
	\| operating_income = {{increase}} {{INRConvert\|6.82\|b}} (Q3FY20)<ref name="BalSheet" />		\| operating_income = {{increase}} {{INRConvert\|6.82\|b}} (Q3FY20)<ref name="BalSheet" />
	\| assets = {{increase}}{{INRConvert\|1.60062\|t}} (Q3FY20)<ref name="BalSheet" />		\| assets = {{increase}}{{INRConvert\|1.60062\|t}} (Q3FY20)<ref name="BalSheet" />
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	}}		}}

	'''IDFC First Bank''' (formerly '''IDFC Bank'''<ref>{{Cite news\|url=https://www.business-standard.com/article/news-ians/idfc-bank-s-name-changed-to-idfc-first-bank-119011300004_1.html\|title=IDFC Bank's name changed to IDFC First Bank\|last=IANS\|date=2019-01-12\|work=Business Standard India\|access-date=2019-07-08}}</ref>) is an Indian ~~[[banking]] company with headquarters in [[Mumbai]]~~ that forms part of [[IDFC]], an integrated infrastructure finance company. The bank started operations on 1 October 2015.<ref>{{cite web \| url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-banks-on-psychometric-tests-for-senior-level-hirings/articleshow/49145618.cms \| title=IDFC banks on psychometric tests for senior level hirings \| work=Economic Times \| date=29 September 2015 \| access-date=30 September 2015 \| author=Sinha, Shilpy}}</ref> ~~IDFC FIRST received~~ a universal banking licence from the [[Reserve Bank of India]] (RBI) in July 2015.<ref>{{cite ~~web~~\|url=http://www.business-standard.com/article/companies/idfc-bank-to-start-operations-from-oct-1-115072400934_1.html \|title=IDFC Bank to start operations from Oct 1 \| Business Standard News \|publisher=Business-standard.com \|date=2015-07-25 \|access-date=2016-10-15}}</ref> ~~On 6 November 2015, IDFC Bank was~~ listed on [[Bombay Stock Exchange\|BSE]] and [[National Stock Exchange of India\|NSE]].<ref>{{cite web\|url=http://www.moneycontrol.com/news/buzzing-stocks/de-merger-listing-idfc-bank-debuts-at-rs-7050nse_4018661.html \|title=De-merger listing: IDFC Bank debuts at Rs 72 on NSE \|publisher=Moneycontrol.com \|date=2015-11-08 \|access-date=2016-10-15}}</ref>		'''IDFC First Bank''' (formerly '''IDFC Bank''')<ref>{{Cite news\|url=https://www.business-standard.com/article/news-ians/idfc-bank-s-name-changed-to-idfc-first-bank-119011300004_1.html\|title=IDFC Bank's name changed to IDFC First Bank\|last=IANS\|date=2019-01-12\|work=Business Standard India\|access-date=2019-07-08}}</ref> is an Indian Private Sector Bank that forms part of [[IDFC]], an integrated infrastructure finance company. The bank started operations on 1 October 2015,<ref>{{cite web \| url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-banks-on-psychometric-tests-for-senior-level-hirings/articleshow/49145618.cms \| title=IDFC banks on psychometric tests for senior level hirings \| work=Economic Times \| date=29 September 2015 \| access-date=30 September 2015 \| author=Sinha, Shilpy}}</ref> after receiving a universal banking licence from the [[Reserve Bank of India]] (RBI) in July 2015.<ref>{{cite news\|url=http://www.business-standard.com/article/companies/idfc-bank-to-start-operations-from-oct-1-115072400934_1.html \|title=IDFC Bank to start operations from Oct 1 \| Business Standard News \|newspaper=Business Standard India \|publisher=Business-standard.com \|date=2015-07-25 \|access-date=2016-10-15\|last1=Saha \|first1=Manojit }}</ref> It is listed on [[Bombay Stock Exchange\|BSE]] and [[National Stock Exchange of India\|NSE]].<ref>{{cite web\|url=http://www.moneycontrol.com/news/buzzing-stocks/de-merger-listing-idfc-bank-debuts-at-rs-7050nse_4018661.html \|title=De-merger listing: IDFC Bank debuts at Rs 72 on NSE \|publisher=Moneycontrol.com \|date=2015-11-08 \|access-date=2016-10-15}}</ref>

	== ~~Company information~~ ==		== History ==

	In 2014, the Reserve Bank of India ~~(RBI)~~ granted an in-principle approval to [[Infrastructure Development Finance Company\|IDFC]] Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this demerger from IDFC Limited in November 2015.		In 2014, the [[Reserve Bank of India]] granted an in-principle approval to [[Infrastructure Development Finance Company\|IDFC]] Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this demerger from IDFC Limited in November 2015.

	IDFC Bank started operations in 19 October 2015.<ref>{{cite web\|url=http://www.livemint.com/Industry/j297AiEAvv8KzEEC8htTdI/Narendra-Modi-inaugurates-IDFC-Bank-talks-of-banking-reform.html\|title=Narendra Modi inaugurates IDFC Bank, talks of banking reforms\|publisher=Livemint\|access-date=2016-10-15}}</ref><ref>{{cite ~~web~~\|url=http://www.business-standard.com/article/government-press-release/pm-inaugurates-idfc-bank-115101901137_1.html\|title=PM inaugurates IDFC Bank \| Business Standard News\|date=2015-10-19\|publisher=Business-standard.com\|access-date=2016-10-15}}</ref> ~~with 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata.~~ 15 branches are in settlements with a population of less than 10,000. IDFC ~~bank has~~ launched its 100th branch in Honnali, Karnataka in October 2017 <ref>{{cite web\|url=http://www.moneycontrol.com/news/business/idfc-bk-to-start-opsfew-branches-by-oct-1-rajiv-lall_1353937.html \|title=IDFC Bk to start ops with few branches by Oct 1: Rajiv Lall \|publisher=Moneycontrol.com \|date=2015-04-12 \|access-date=2016-10-15}}</ref>		IDFC Bank started operations in 19 October 2015, with 23 branches in Madhya Pradesh, [[Delhi]], [[Mumbai]], [[Hyderabad]], [[Bangalore\|Bengaluru]], [[Pune]], [[Chennai]], [[Ahmedabad]] and [[Kolkata]]. It has more than 600 branches across India till 2021.<ref>{{cite web\|url=http://www.livemint.com/Industry/j297AiEAvv8KzEEC8htTdI/Narendra-Modi-inaugurates-IDFC-Bank-talks-of-banking-reform.html\|title=Narendra Modi inaugurates IDFC Bank, talks of banking reforms\|date=19 October 2015 \|publisher=Livemint\|access-date=2016-10-15}}</ref><ref>{{cite news\|url=http://www.business-standard.com/article/government-press-release/pm-inaugurates-idfc-bank-115101901137_1.html\|title=PM inaugurates IDFC Bank \| Business Standard News\|newspaper=Business Standard India \|date=2015-10-19\|publisher=Business-standard.com\|access-date=2016-10-15}}</ref> 15 branches are in settlements with a population of less than 10,000. IDFC Bank launched its 100th branch in [[Honnali]], [[Karnataka]], in October 2017.<ref>{{cite web\|url=http://www.moneycontrol.com/news/business/idfc-bk-to-start-opsfew-branches-by-oct-1-rajiv-lall_1353937.html \|title=IDFC Bk to start ops with few branches by Oct 1: Rajiv Lall \|publisher=Moneycontrol.com \|date=2015-04-12 \|access-date=2016-10-15}}</ref>

	In January 2018, ~~Erstwhile~~ IDFC Bank and ~~Erstwhile~~ Capital First announced a merger. Shareholders of ~~Erstwhile~~ Capital First were to be issued 13.9 shares of the merged entity for every 1 share of ~~Erstwhile~~ Capital First. ~~Thus,~~ IDFC ~~FIRST~~ Bank was founded as a new entity ~~by the merger of Erstwhile IDFC Bank and Erstwhile Capital First~~ on December 18, 2018.<ref>{{cite ~~web~~\|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-capital-first-completes-merger-process-to-form-idfc-first-bank/articleshow/67149838.cms?from=mdr\|title=IDFC, Capital First completes merger process to form IDFC First Bank \|publisher=eonomictimes.com}}</ref>		In January 2018, IDFC Bank and non-banking financial company [[Capital First Ltd.\|Capital First]] announced a merger. Shareholders of Capital First were to be issued 13.9 shares of the merged entity for every 1 share of Capital First. IDFC First Bank was founded as a new entity on December 18, 2018.<ref>{{cite news\|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-capital-first-completes-merger-process-to-form-idfc-first-bank/articleshow/67149838.cms?from=mdr\|title=IDFC, Capital First completes merger process to form IDFC First Bank \|newspaper=The Economic Times \|publisher=eonomictimes.com\|last1=Sinha \|first1=Shilpy }}</ref>

	== Business focus ==		== Business focus ==

	The bank serves corporate and private customers in India including the infrastructure sector that IDFC specialized in from its founding in 1997. The bank also aims to provide services to people in rural areas and to the self-employed.<ref>{{cite web\|url=http://www.business-standard.com/article/finance/7-things-to-know-about-idfc-bank-115100100509_1.html \|title=7 things to know about IDFC Bank \| Business Standard News \|publisher=Business-standard.com \|date=2015-10-01 \|access-date=2016-10-15}}</ref><ref>{{cite web\|url=http://www.livemint.com/Industry/jiRoniiEnM79Djr99T6o9N/I-am-happy-to-overinvest-in-technology-IDFCs-Rajiv-Lall.html \|title=I am happy to over-invest in technology: ~~IDFC’s~~ Rajiv Lall \|publisher=Livemint \|date=2015-07-01 \|access-date=2016-10-15}}</ref>		The bank serves corporate and private customers in India including the infrastructure sector that IDFC specialized in from its founding in 1997. The bank also aims to provide services to people in rural areas and to the self-employed.<ref>{{cite web\|url=http://www.business-standard.com/article/finance/7-things-to-know-about-idfc-bank-115100100509_1.html \|title=7 things to know about IDFC Bank \| Business Standard News \|publisher=Business-standard.com \|date=2015-10-01 \|access-date=2016-10-15}}</ref><ref>{{cite web\|url=http://www.livemint.com/Industry/jiRoniiEnM79Djr99T6o9N/I-am-happy-to-overinvest-in-technology-IDFCs-Rajiv-Lall.html \|title=I am happy to over-invest in technology: IDFC's Rajiv Lall \|publisher=Livemint \|date=2015-07-01 \|access-date=2016-10-15}}</ref>

	The bank IDFC Bank is the first in India to launch [[Aadhaar]]-linked cashless merchant solution.<ref>{{Cite news\|url=http://www.thehindubusinessline.com/money-and-banking/idfc-bank-takes-the-lead-launches-aadhaar-pay/article9574037.ece\|title=IDFC Bank takes the lead, launches Aadhaar Pay\|last=K.R.Srivats\|date=2017-03-07\|work=The Hindu Business Line\|access-date=2017-03-09\|language=en}}</ref><ref>{{Cite news\|url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-bank-launches-aadhaar-linked-cashless-merchant-solution/articleshow/56170045.cms\|title=IDFC Bank launches aadhaar-linked cashless merchant solution – The Economic Times\|newspaper=The Economic Times\|access-date=2017-01-17}}</ref>		The bank IDFC Bank is the first in India to launch [[Aadhaar]]-linked cashless merchant solution.<ref>{{Cite news\|url=http://www.thehindubusinessline.com/money-and-banking/idfc-bank-takes-the-lead-launches-aadhaar-pay/article9574037.ece\|title=IDFC Bank takes the lead, launches Aadhaar Pay\|last=K.R.Srivats\|date=2017-03-07\|work=The Hindu Business Line\|access-date=2017-03-09\|language=en}}</ref><ref>{{Cite news\|url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-bank-launches-aadhaar-linked-cashless-merchant-solution/articleshow/56170045.cms\|title=IDFC Bank launches aadhaar-linked cashless merchant solution – The Economic Times\|newspaper=The Economic Times\|access-date=2017-01-17}}</ref>
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	On 8 November 2017, IDFC Bank entered into a strategic partnership with digital payments solution company MobiKwik to launch a co-branded virtual Visa prepaid card for customers of MobiKwik.		On 8 November 2017, IDFC Bank entered into a strategic partnership with digital payments solution company MobiKwik to launch a co-branded virtual Visa prepaid card for customers of MobiKwik.

	On 11 March 2020, the bank announced that it has signed Mr. [[Amitabh Bachchan]], as its first brand ambassador.<ref>{{Cite news\|last=IDFC FIRST Bank\|url=https://www.idfcfirstbank.com/content/dam/IDFCFirstBank/in-the-press/Mr-Amitabh-Bachchan-is-brand-ambassador-of-IDFC-FIRST-Bank.pdf\|title=IDFC FIRST Bank names ~~India’s~~ iconic personality Mr. Amitabh Bachchan as Brand Ambassador\|date=11 March 2020\|work=Press Release\|access-date=21 March 2020}}</ref>		On 11 March 2020, the bank announced that it has signed Mr. [[Amitabh Bachchan]], as its first brand ambassador.<ref>{{Cite news\|last=IDFC FIRST Bank\|url=https://www.idfcfirstbank.com/content/dam/IDFCFirstBank/in-the-press/Mr-Amitabh-Bachchan-is-brand-ambassador-of-IDFC-FIRST-Bank.pdf\|title=IDFC FIRST Bank names India's iconic personality Mr. Amitabh Bachchan as Brand Ambassador\|date=11 March 2020\|work=Press Release\|access-date=21 March 2020}}</ref>

	It announced the entry into credit card sector with low interest rates and interest free credit in 2021.<ref>{{Cite news\|last=Mint\|url=https://www.livemint.com/industry/banking/idfc-first-bank-to-offer-interest-free-cash-on-credit-cards-11611025437572.html\|title=IDFC First Bank to offer interest-free cash on credit cards\|date=19 January 2021\|access-date=21 January 2021}}</ref>		It announced the entry into credit card sector with low interest rates and interest free credit in 2021.<ref>{{Cite news\|last=Mint\|url=https://www.livemint.com/industry/banking/idfc-first-bank-to-offer-interest-free-cash-on-credit-cards-11611025437572.html\|title=IDFC First Bank to offer interest-free cash on credit cards\|date=19 January 2021\|access-date=21 January 2021}}</ref>
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	[[Category:IDFC First Bank]]		[[Category:IDFC First Bank]]
	[[Category:Warburg Pincus companies]]		[[Category:Warburg Pincus companies]]
	~~[[Category:List of Institutions using TCS BaNCS]]~~
	[[Category:Indian companies established in 2015]]		[[Category:Indian companies established in 2015]]
	[[Category:Banks established in 2015]]		[[Category:Banks established in 2015]]
			[[Category:Companies listed on the National Stock Exchange of India]]
			[[Category:Companies listed on the Bombay Stock Exchange]]

	{{India-company-stub}}		{{India-company-stub}}
	~~{{en-Wikipedia}}~~

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	'''IDFC First Bank''' (formerly '''IDFC Bank'''<ref>{{Cite news\|url=https://www.business-standard.com/article/news-ians/idfc-bank-s-name-changed-to-idfc-first-bank-119011300004_1.html\|title=IDFC Bank's name changed to IDFC First Bank\|last=IANS\|date=2019-01-12\|work=Business Standard India\|access-date=2019-07-08}}</ref> in [[Mumbai]] that forms part of [[IDFC]], an integrated infrastructure finance company. The bank started operations on 1 October 2015.<ref>{{cite web \| url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-banks-on-psychometric-tests-for-senior-level-hirings/articleshow/49145618.cms \| title=IDFC banks on psychometric tests for senior level hirings \| work=Economic Times \| date=29 September 2015 \| access-date=30 September 2015 \| author=Sinha, Shilpy}}</ref> IDFC FIRST received a universal banking licence from the [[Reserve Bank of India]] (RBI) in July 2015.<ref>{{cite web\|url=http://www.business-standard.com/article/companies/idfc-bank-to-start-operations-from-oct-1-115072400934_1.html \|title=IDFC Bank to start operations from Oct 1 \| Business Standard News \|publisher=Business-standard.com \|date=2015-07-25 \|access-date=2016-10-15}}</ref>was listed on [[Bombay Stock Exchange\|BSE]] and [[National Stock Exchange of India\|NSE]].<ref>{{cite web\|url=http://www.moneycontrol.com/news/buzzing-stocks/de-merger-listing-idfc-bank-debuts-at-rs-7050nse_4018661.html \|title=De-merger listing: IDFC Bank debuts at Rs 72 on NSE \|publisher=Moneycontrol.com \|date=2015-11-08 \|access-date=2016-10-15}}</ref>		'''IDFC First Bank''' (formerly '''IDFC Bank'''<ref>{{Cite news\|url=https://www.business-standard.com/article/news-ians/idfc-bank-s-name-changed-to-idfc-first-bank-119011300004_1.html\|title=IDFC Bank's name changed to IDFC First Bank\|last=IANS\|date=2019-01-12\|work=Business Standard India\|access-date=2019-07-08}}</ref>) is an Indian [[banking]] company with headquarters in [[Mumbai]] that forms part of [[IDFC]], an integrated infrastructure finance company. The bank started operations on 1 October 2015.<ref>{{cite web \| url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-banks-on-psychometric-tests-for-senior-level-hirings/articleshow/49145618.cms \| title=IDFC banks on psychometric tests for senior level hirings \| work=Economic Times \| date=29 September 2015 \| access-date=30 September 2015 \| author=Sinha, Shilpy}}</ref> IDFC FIRST received a universal banking licence from the [[Reserve Bank of India]] (RBI) in July 2015.<ref>{{cite web\|url=http://www.business-standard.com/article/companies/idfc-bank-to-start-operations-from-oct-1-115072400934_1.html \|title=IDFC Bank to start operations from Oct 1 \| Business Standard News \|publisher=Business-standard.com \|date=2015-07-25 \|access-date=2016-10-15}}</ref> On 6 November 2015, IDFC Bank was listed on [[Bombay Stock Exchange\|BSE]] and [[National Stock Exchange of India\|NSE]].<ref>{{cite web\|url=http://www.moneycontrol.com/news/buzzing-stocks/de-merger-listing-idfc-bank-debuts-at-rs-7050nse_4018661.html \|title=De-merger listing: IDFC Bank debuts at Rs 72 on NSE \|publisher=Moneycontrol.com \|date=2015-11-08 \|access-date=2016-10-15}}</ref>

	== Company information ==		== Company information ==

	In 2014, the [[Reserve Bank of India]] granted an in-principle approval to [[Infrastructure Development Finance Company\|IDFC]] Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this demerger from IDFC Limited in November 2015.		In 2014, the Reserve Bank of India (RBI) granted an in-principle approval to [[Infrastructure Development Finance Company\|IDFC]] Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this demerger from IDFC Limited in November 2015.

	IDFC Bank started operations in 19 October 2015.<ref>{{cite web\|url=http://www.livemint.com/Industry/j297AiEAvv8KzEEC8htTdI/Narendra-Modi-inaugurates-IDFC-Bank-talks-of-banking-reform.html\|title=Narendra Modi inaugurates IDFC Bank, talks of banking reforms\|publisher=Livemint\|access-date=2016-10-15}}</ref><ref>{{cite web\|url=http://www.business-standard.com/article/government-press-release/pm-inaugurates-idfc-bank-115101901137_1.html\|title=PM inaugurates IDFC Bank \| Business Standard News\|date=2015-10-19\|publisher=Business-standard.com\|access-date=2016-10-15}}</ref> with 23 branches in [[Madhya Pradesh]], [[Delhi]], [[Mumbai]], [[Hyderabad]], [[Bengaluru]], [[Pune]], [[Chennai]], [[Ahmedabad]] and [[Kolkata]]. 15 branches are in settlements with a population of less than 10,000. IDFC bank has launched its 100th branch in [[Honnali]], [[Karnataka]] in October 2017 <ref>{{cite web\|url=http://www.moneycontrol.com/news/business/idfc-bk-to-start-opsfew-branches-by-oct-1-rajiv-lall_1353937.html \|title=IDFC Bk to start ops with few branches by Oct 1: Rajiv Lall \|publisher=Moneycontrol.com \|date=2015-04-12 \|access-date=2016-10-15}}</ref>		IDFC Bank started operations in 19 October 2015.<ref>{{cite web\|url=http://www.livemint.com/Industry/j297AiEAvv8KzEEC8htTdI/Narendra-Modi-inaugurates-IDFC-Bank-talks-of-banking-reform.html\|title=Narendra Modi inaugurates IDFC Bank, talks of banking reforms\|publisher=Livemint\|access-date=2016-10-15}}</ref><ref>{{cite web\|url=http://www.business-standard.com/article/government-press-release/pm-inaugurates-idfc-bank-115101901137_1.html\|title=PM inaugurates IDFC Bank \| Business Standard News\|date=2015-10-19\|publisher=Business-standard.com\|access-date=2016-10-15}}</ref> with 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. 15 branches are in settlements with a population of less than 10,000. IDFC bank has launched its 100th branch in Honnali, Karnataka in October 2017 <ref>{{cite web\|url=http://www.moneycontrol.com/news/business/idfc-bk-to-start-opsfew-branches-by-oct-1-rajiv-lall_1353937.html \|title=IDFC Bk to start ops with few branches by Oct 1: Rajiv Lall \|publisher=Moneycontrol.com \|date=2015-04-12 \|access-date=2016-10-15}}</ref>

	In January 2018, Erstwhile IDFC Bank and Erstwhile Capital First announced a merger. Shareholders of Erstwhile Capital First were to be issued 13.9 shares of the merged entity for every 1 share of Erstwhile Capital First. Thus, IDFC FIRST Bank was founded as a new entity by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018.<ref>{{cite web\|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-capital-first-completes-merger-process-to-form-idfc-first-bank/articleshow/67149838.cms?from=mdr\|title=IDFC, Capital First completes merger process to form IDFC First Bank \|publisher=eonomictimes.com}}</ref>		In January 2018, Erstwhile IDFC Bank and Erstwhile Capital First announced a merger. Shareholders of Erstwhile Capital First were to be issued 13.9 shares of the merged entity for every 1 share of Erstwhile Capital First. Thus, IDFC FIRST Bank was founded as a new entity by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018.<ref>{{cite web\|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-capital-first-completes-merger-process-to-form-idfc-first-bank/articleshow/67149838.cms?from=mdr\|title=IDFC, Capital First completes merger process to form IDFC First Bank \|publisher=eonomictimes.com}}</ref>
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{{Use dmy dates|date=April 2020}}
{{Infobox company
| name = IDFC FIRST Bank
| logo = IDFC First Bank logo.jpg
| logo_caption = ''Always You First''
| type = [[Public]]
| traded_as = {{BSE|539437}} {{NSE|IDFCFIRSTB}}
| industry = [[Banking]] [[Financial service]]s
| founded = {{Start date and age|2015|10||df=yes}}
| key_people = {{Unbulleted_list||[[Rajiv Lall]] {{small|(Non-Exe. Chairman)}}<ref>{{cite web|url=https://www.livemint.com/Companies/nN8S5UjphAe4EjLTxmZ0IM/=Capital-First-merges-with-IDFC-Bank-to-create-IDFC-First-Ban.html|title=Miss.priya Gupta will be Non-Exe Chairman}}</ref>
|[[V. Vaidyanathan]] {{small|([[Managing director|MD]] & [[Chief executive officer|CEO]])}} <ref>{{cite news|url=https://www.moneycontrol.com/news/business/rbi-approves-appointment-of-v-vaidyanathan-as-md-ceo-of-idfc-first-bank-3409961.html|title=RBI approves appointment of V Vaidyanathan as MD, CEO of IDFC FIRST Bank}}</ref>}}
| products = {{Bulleted_list|[[Retail banking|Consumer banking]]|[[Home loan]]s|[[Retail banking|Loans against property]]|[[Personal loans]]|[[Retail banking|Consumer Durable loans]]|[[Retail banking|Vehicle loans]]|[[Retail banking|Business loans]]|[[Retail banking|Micro Enterprise loans]]|[[Private banking]]|[[Wealth management]]|[[Investment banking]]|[[Commercial bank|Corporate banking]]|[[Wholesale banking]]}}
| revenue = {{increase}}{{INRConvert|46.79|b}} (Q3FY20)<ref name="BalSheet">[https://www.idfcfirstbank.com/content/dam/IDFCFirstBank/PDF/IDFC-FIRST-Bank-Investor-Presentation-Q3FY20-FINAL.pdf"].</ref>
| operating_income = {{increase}} {{INRConvert|6.82|b}} (Q3FY20)<ref name="BalSheet" />
| assets = {{increase}}{{INRConvert|1.60062|t}} (Q3FY20)<ref name="BalSheet" />
| equity =
| num_employees = 20,222 (March 2020)
| ratio = 13.28% <ref name="BalSheet" />
| location = [[Mumbai]], [[Maharashtra]], India
| parent = [[Infrastructure Development Finance Company]]
| predecessor = IDFC Bank [[Capital First Ltd.]]
| homepage = {{url|https://www.idfcfirstbank.com/}}
}}

'''IDFC First Bank''' (formerly '''IDFC Bank'''<ref>{{Cite news|url=https://www.business-standard.com/article/news-ians/idfc-bank-s-name-changed-to-idfc-first-bank-119011300004_1.html|title=IDFC Bank's name changed to IDFC First Bank|last=IANS|date=2019-01-12|work=Business Standard India|access-date=2019-07-08}}</ref>) is an Indian [[banking]] company with headquarters in [[Mumbai]] that forms part of [[IDFC]], an integrated infrastructure finance company. The bank started operations on 1 October 2015.<ref>{{cite web | url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-banks-on-psychometric-tests-for-senior-level-hirings/articleshow/49145618.cms | title=IDFC banks on psychometric tests for senior level hirings | work=Economic Times | date=29 September 2015 | access-date=30 September 2015 | author=Sinha, Shilpy}}</ref> IDFC FIRST received a universal banking licence from the [[Reserve Bank of India]] (RBI) in July 2015.<ref>{{cite web|url=http://www.business-standard.com/article/companies/idfc-bank-to-start-operations-from-oct-1-115072400934_1.html |title=IDFC Bank to start operations from Oct 1 | Business Standard News |publisher=Business-standard.com |date=2015-07-25 |access-date=2016-10-15}}</ref> On 6 November 2015, IDFC Bank was listed on [[Bombay Stock Exchange|BSE]] and [[National Stock Exchange of India|NSE]].<ref>{{cite web|url=http://www.moneycontrol.com/news/buzzing-stocks/de-merger-listing-idfc-bank-debuts-at-rs-7050nse_4018661.html |title=De-merger listing: IDFC Bank debuts at Rs 72 on NSE |publisher=Moneycontrol.com |date=2015-11-08 |access-date=2016-10-15}}</ref>

== Company information ==

In 2014, the Reserve Bank of India (RBI) granted an in-principle approval to [[Infrastructure Development Finance Company|IDFC]] Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this demerger from IDFC Limited in November 2015.

IDFC Bank started operations in 19 October 2015.<ref>{{cite web|url=http://www.livemint.com/Industry/j297AiEAvv8KzEEC8htTdI/Narendra-Modi-inaugurates-IDFC-Bank-talks-of-banking-reform.html|title=Narendra Modi inaugurates IDFC Bank, talks of banking reforms|publisher=Livemint|access-date=2016-10-15}}</ref><ref>{{cite web|url=http://www.business-standard.com/article/government-press-release/pm-inaugurates-idfc-bank-115101901137_1.html|title=PM inaugurates IDFC Bank | Business Standard News|date=2015-10-19|publisher=Business-standard.com|access-date=2016-10-15}}</ref> with 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. 15 branches are in settlements with a population of less than 10,000. IDFC bank has launched its 100th branch in Honnali, Karnataka in October 2017 <ref>{{cite web|url=http://www.moneycontrol.com/news/business/idfc-bk-to-start-opsfew-branches-by-oct-1-rajiv-lall_1353937.html |title=IDFC Bk to start ops with few branches by Oct 1: Rajiv Lall |publisher=Moneycontrol.com |date=2015-04-12 |access-date=2016-10-15}}</ref>

In January 2018, Erstwhile IDFC Bank and Erstwhile Capital First announced a merger. Shareholders of Erstwhile Capital First were to be issued 13.9 shares of the merged entity for every 1 share of Erstwhile Capital First. Thus, IDFC FIRST Bank was founded as a new entity by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018.<ref>{{cite web|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-capital-first-completes-merger-process-to-form-idfc-first-bank/articleshow/67149838.cms?from=mdr|title=IDFC, Capital First completes merger process to form IDFC First Bank |publisher=eonomictimes.com}}</ref>

== Business focus ==

The bank serves corporate and private customers in India including the infrastructure sector that IDFC specialized in from its founding in 1997. The bank also aims to provide services to people in rural areas and to the self-employed.<ref>{{cite web|url=http://www.business-standard.com/article/finance/7-things-to-know-about-idfc-bank-115100100509_1.html |title=7 things to know about IDFC Bank | Business Standard News |publisher=Business-standard.com |date=2015-10-01 |access-date=2016-10-15}}</ref><ref>{{cite web|url=http://www.livemint.com/Industry/jiRoniiEnM79Djr99T6o9N/I-am-happy-to-overinvest-in-technology-IDFCs-Rajiv-Lall.html |title=I am happy to over-invest in technology: IDFC’s Rajiv Lall |publisher=Livemint |date=2015-07-01 |access-date=2016-10-15}}</ref>

The bank IDFC Bank is the first in India to launch [[Aadhaar]]-linked cashless merchant solution.<ref>{{Cite news|url=http://www.thehindubusinessline.com/money-and-banking/idfc-bank-takes-the-lead-launches-aadhaar-pay/article9574037.ece|title=IDFC Bank takes the lead, launches Aadhaar Pay|last=K.R.Srivats|date=2017-03-07|work=The Hindu Business Line|access-date=2017-03-09|language=en}}</ref><ref>{{Cite news|url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-bank-launches-aadhaar-linked-cashless-merchant-solution/articleshow/56170045.cms|title=IDFC Bank launches aadhaar-linked cashless merchant solution – The Economic Times|newspaper=The Economic Times|access-date=2017-01-17}}</ref>

One of its largest loans into e-commerce includes a {{INRConvert|3|b}} loan to [[Flipkart]].<ref>{{Cite news|url=http://timesofindia.indiatimes.com/companies/idfc-bank-gives-rs-300cr-loan-to-flipkart/articleshow/56095621.cms|title=IDFC Bank gives Rs 300 crore loan to Flipkart – Times of India|newspaper=The Times of India|access-date=2017-01-17}}</ref>
On 8 November 2017, IDFC Bank entered into a strategic partnership with digital payments solution company MobiKwik to launch a co-branded virtual Visa prepaid card for customers of MobiKwik.

On 11 March 2020, the bank announced that it has signed Mr. [[Amitabh Bachchan]], as its first brand ambassador.<ref>{{Cite news|last=IDFC FIRST Bank|url=https://www.idfcfirstbank.com/content/dam/IDFCFirstBank/in-the-press/Mr-Amitabh-Bachchan-is-brand-ambassador-of-IDFC-FIRST-Bank.pdf|title=IDFC FIRST Bank names India’s iconic personality Mr. Amitabh Bachchan as Brand Ambassador|date=11 March 2020|work=Press Release|access-date=21 March 2020}}</ref>

It announced the entry into credit card sector with low interest rates and interest free credit in 2021.<ref>{{Cite news|last=Mint|url=https://www.livemint.com/industry/banking/idfc-first-bank-to-offer-interest-free-cash-on-credit-cards-11611025437572.html|title=IDFC First Bank to offer interest-free cash on credit cards|date=19 January 2021|access-date=21 January 2021}}</ref>

==See also==
{{Portal|Banks}}
* [[Banking in India]]
* [[List of banks in India]]
* [[Reserve Bank of India]]
* [[Indian Financial System Code]]
* [[List of largest banks]]
* [[List of companies of India]]
* [[Make in India]]

== References ==
{{Reflist}}

{{Banking in India}}
{{Nifty 200 companies}}

[[Category:2015 establishments in Maharashtra]]
[[Category:Banks based in Mumbai]]
[[Category:IDFC First Bank]]
[[Category:Warburg Pincus companies]]
[[Category:List of Institutions using TCS BaNCS]]
[[Category:Indian companies established in 2015]]
[[Category:Banks established in 2015]]

{{India-company-stub}}

← Older revision		Revision as of 18:45, 31 May 2021
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	'''IDFC First Bank''' (formerly '''IDFC Bank'''<ref>{{Cite news\|url=https://www.business-standard.com/article/news-ians/idfc-bank-s-name-changed-to-idfc-first-bank-119011300004_1.html\|title=IDFC Bank's name changed to IDFC First Bank\|last=IANS\|date=2019-01-12\|work=Business Standard India\|access-date=2019-07-08}}</ref>~~) is an Indian [[banking]] company with headquarters~~ in [[Mumbai]] that forms part of [[IDFC]], an integrated infrastructure finance company. The bank started operations on 1 October 2015.<ref>{{cite web \| url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-banks-on-psychometric-tests-for-senior-level-hirings/articleshow/49145618.cms \| title=IDFC banks on psychometric tests for senior level hirings \| work=Economic Times \| date=29 September 2015 \| access-date=30 September 2015 \| author=Sinha, Shilpy}}</ref> IDFC FIRST received a universal banking licence from the [[Reserve Bank of India]] (RBI) in July 2015.<ref>{{cite web\|url=http://www.business-standard.com/article/companies/idfc-bank-to-start-operations-from-oct-1-115072400934_1.html \|title=IDFC Bank to start operations from Oct 1 \| Business Standard News \|publisher=Business-standard.com \|date=2015-07-25 \|access-date=2016-10-15}}</ref> ~~On 6 November 2015, IDFC Bank~~ was listed on [[Bombay Stock Exchange\|BSE]] and [[National Stock Exchange of India\|NSE]].<ref>{{cite web\|url=http://www.moneycontrol.com/news/buzzing-stocks/de-merger-listing-idfc-bank-debuts-at-rs-7050nse_4018661.html \|title=De-merger listing: IDFC Bank debuts at Rs 72 on NSE \|publisher=Moneycontrol.com \|date=2015-11-08 \|access-date=2016-10-15}}</ref>		'''IDFC First Bank''' (formerly '''IDFC Bank'''<ref>{{Cite news\|url=https://www.business-standard.com/article/news-ians/idfc-bank-s-name-changed-to-idfc-first-bank-119011300004_1.html\|title=IDFC Bank's name changed to IDFC First Bank\|last=IANS\|date=2019-01-12\|work=Business Standard India\|access-date=2019-07-08}}</ref> in [[Mumbai]] that forms part of [[IDFC]], an integrated infrastructure finance company. The bank started operations on 1 October 2015.<ref>{{cite web \| url=http://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-banks-on-psychometric-tests-for-senior-level-hirings/articleshow/49145618.cms \| title=IDFC banks on psychometric tests for senior level hirings \| work=Economic Times \| date=29 September 2015 \| access-date=30 September 2015 \| author=Sinha, Shilpy}}</ref> IDFC FIRST received a universal banking licence from the [[Reserve Bank of India]] (RBI) in July 2015.<ref>{{cite web\|url=http://www.business-standard.com/article/companies/idfc-bank-to-start-operations-from-oct-1-115072400934_1.html \|title=IDFC Bank to start operations from Oct 1 \| Business Standard News \|publisher=Business-standard.com \|date=2015-07-25 \|access-date=2016-10-15}}</ref>was listed on [[Bombay Stock Exchange\|BSE]] and [[National Stock Exchange of India\|NSE]].<ref>{{cite web\|url=http://www.moneycontrol.com/news/buzzing-stocks/de-merger-listing-idfc-bank-debuts-at-rs-7050nse_4018661.html \|title=De-merger listing: IDFC Bank debuts at Rs 72 on NSE \|publisher=Moneycontrol.com \|date=2015-11-08 \|access-date=2016-10-15}}</ref>

	== Company information ==		== Company information ==

	In 2014, the Reserve Bank of India ~~(RBI)~~ granted an in-principle approval to [[Infrastructure Development Finance Company\|IDFC]] Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this demerger from IDFC Limited in November 2015.		In 2014, the [[Reserve Bank of India]] granted an in-principle approval to [[Infrastructure Development Finance Company\|IDFC]] Limited to set up a new bank in the private sector. Following this, the IDFC Limited divested its infrastructure finance assets and liabilities to a new entity - IDFC Bank. The bank was launched through this demerger from IDFC Limited in November 2015.

	IDFC Bank started operations in 19 October 2015.<ref>{{cite web\|url=http://www.livemint.com/Industry/j297AiEAvv8KzEEC8htTdI/Narendra-Modi-inaugurates-IDFC-Bank-talks-of-banking-reform.html\|title=Narendra Modi inaugurates IDFC Bank, talks of banking reforms\|publisher=Livemint\|access-date=2016-10-15}}</ref><ref>{{cite web\|url=http://www.business-standard.com/article/government-press-release/pm-inaugurates-idfc-bank-115101901137_1.html\|title=PM inaugurates IDFC Bank \| Business Standard News\|date=2015-10-19\|publisher=Business-standard.com\|access-date=2016-10-15}}</ref> with 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. 15 branches are in settlements with a population of less than 10,000. IDFC bank has launched its 100th branch in Honnali, Karnataka in October 2017 <ref>{{cite web\|url=http://www.moneycontrol.com/news/business/idfc-bk-to-start-opsfew-branches-by-oct-1-rajiv-lall_1353937.html \|title=IDFC Bk to start ops with few branches by Oct 1: Rajiv Lall \|publisher=Moneycontrol.com \|date=2015-04-12 \|access-date=2016-10-15}}</ref>		IDFC Bank started operations in 19 October 2015.<ref>{{cite web\|url=http://www.livemint.com/Industry/j297AiEAvv8KzEEC8htTdI/Narendra-Modi-inaugurates-IDFC-Bank-talks-of-banking-reform.html\|title=Narendra Modi inaugurates IDFC Bank, talks of banking reforms\|publisher=Livemint\|access-date=2016-10-15}}</ref><ref>{{cite web\|url=http://www.business-standard.com/article/government-press-release/pm-inaugurates-idfc-bank-115101901137_1.html\|title=PM inaugurates IDFC Bank \| Business Standard News\|date=2015-10-19\|publisher=Business-standard.com\|access-date=2016-10-15}}</ref> with 23 branches in [[Madhya Pradesh]], [[Delhi]], [[Mumbai]], [[Hyderabad]], [[Bengaluru]], [[Pune]], [[Chennai]], [[Ahmedabad]] and [[Kolkata]]. 15 branches are in settlements with a population of less than 10,000. IDFC bank has launched its 100th branch in [[Honnali]], [[Karnataka]] in October 2017 <ref>{{cite web\|url=http://www.moneycontrol.com/news/business/idfc-bk-to-start-opsfew-branches-by-oct-1-rajiv-lall_1353937.html \|title=IDFC Bk to start ops with few branches by Oct 1: Rajiv Lall \|publisher=Moneycontrol.com \|date=2015-04-12 \|access-date=2016-10-15}}</ref>

	In January 2018, Erstwhile IDFC Bank and Erstwhile Capital First announced a merger. Shareholders of Erstwhile Capital First were to be issued 13.9 shares of the merged entity for every 1 share of Erstwhile Capital First. Thus, IDFC FIRST Bank was founded as a new entity by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018.<ref>{{cite web\|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-capital-first-completes-merger-process-to-form-idfc-first-bank/articleshow/67149838.cms?from=mdr\|title=IDFC, Capital First completes merger process to form IDFC First Bank \|publisher=eonomictimes.com}}</ref>		In January 2018, Erstwhile IDFC Bank and Erstwhile Capital First announced a merger. Shareholders of Erstwhile Capital First were to be issued 13.9 shares of the merged entity for every 1 share of Erstwhile Capital First. Thus, IDFC FIRST Bank was founded as a new entity by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018.<ref>{{cite web\|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/idfc-capital-first-completes-merger-process-to-form-idfc-first-bank/articleshow/67149838.cms?from=mdr\|title=IDFC, Capital First completes merger process to form IDFC First Bank \|publisher=eonomictimes.com}}</ref>