IDFC First Bank Share Price

IDFC FIRST Bank also known earlier as IDFC Bank is one of the most opted private sector banks which was formed by merging Infrastructure Development Finance Company and Capital First, a non-Bank Indian-based Financial Institution. IDFC FIRST Bank was the first universal bank that offered not only monthly interest credit on savings accounts but also lifetime free credit cards with dynamic and low annual percentage rates. 

They have gathered a whooping revenue of Rupees 22,728 crore in this current financial year. With over 22000 employees, IDFC FIRST Bank has an overall great performance which has brought profits from the  IDFCFIRSTB share prices.

Their headquarters is located in Mumbai, Maharashtra in India and Mr V Vaidyanathan is the current Managing Director and Chief Executive Officer of this bank. IDFC FIRST Bank is listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) as the IDFCFIRSTB stocks for investors to trade on IDFCFIRSTB shares. 

IDFC FIRST Bank has a very strong digital presence and provides online and mobile banking platforms to make banking processes easier remotely. As of late 2022, IDFC FIRST Bank held 36.38% promoter holding, 33.60% at institutional holding and rest 20.01% for public holding as IDFC FIRST Bank.

History of IDFC First Bank

IDFC LTD was first set up in 1997 as an infrastructure financial project but later in 2014, the Reserve Bank of India allowed IDFC to be a bank in the private sector. Since then IDFC Bank has been operating in multiple locations across the country including Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. They have over 600 branches to date.

When the Reserve Bank of India appointed Mr V. Vaidyanathan as Managing Director and CEO, the merger of Infrastructure Development Finance Company and Capital First became effective. 13.9  of IDFCBFIRST shares were issued for every IDFCBFIRST stock purchase after the merger as a scheme. As per recent reports, IDFCBFIRST shareholders who purchased  IDFCBFIRST shares after 2021 will be receiving 155 IDFCBFIRST shares for every 100 shares they currently own in IDFC First Bank LTD.

Awards received by IDFC First Bank

● IDFCBFIRST -  ESG SUMMIT and Awards 2023 awarded by Transformance Forums
● IDFCBFIRST -  ESB Rising Star Award 2023  awarded  by UBS Forums
● IDFCBFIRST-  Most Preferred Workplace awarded  by Team Marksmen
● IDFCBFIRST - Best Innovative Payment Solution of the Year  awarded  by Kamikaze Media
● IDFCBFIRST - Excellence in Onboarding Program  awarded by The Economic Times Human Capital Awards

Important Facts about IDFC First Bank

● IDFC First Bank was formed in November 2015 through the merger of IDFC Bank and Capital First, an NBFC. The merger aimed to create a strong banking institution with enhanced capabilities.

● They offer a comprehensive range of financial products and services, including savings and current accounts, fixed deposits, loans (including personal, home, and business loans), credit cards, insurance products, and wealth management services.

● The bank also has a strong digital presence and offers online and mobile banking platforms for convenient and secure banking transactions. It has invested in digital technologies to enhance the customer experience and provide innovative banking solutions.

● IDFC First Bank is actively involved in CSR activities, focusing on areas such as education, healthcare, skill development, and environmental sustainability. The bank is committed to financial inclusion and aims to serve the underserved and unbanked segments of the population. It has undertaken initiatives to reach out to rural and semi-urban areas, providing tailored products and promoting financial literacy.

IDFC First Bank Ltd is a prominent private sector bank in India, formed through the merger of IDFC Bank and Capital First. The bank has a strong emphasis on financial inclusion and strives to serve underserved populations, particularly in rural and semi-urban areas. With a focus on digital banking, it provides convenient and secure online and mobile banking platforms. 
IDFC First Bank is listed on the NSE and BSE as IDFCFIRSTB shares, allowing investors to trade its shares. Overall, the bank's commitment to customer-centric services, technological advancements, and financial inclusion solidifies its position as a leading player in India's banking industry.