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IDFC First Bank (stylised as IDFC FIRST Bank) is an Indian private sector bank based in Mumbai. Founded in 2015 as a banking subsidiary of IDFC Limited , it shifted focus from infrastructure financing to retail banking in the years after its 2018 merger with Capital First . [ 6 ]
Capital First Ltd. was an Indian non-bank financial institution providing debt financing to small entrepreneurs, MSMEs and consumers. In December 2018, it was merged into IDFC Bank to form IDFC First Bank .
[21] [22] Effectively Vaidyanathan successfully secured a banking license for Capital First through the merger and assumed control of the bank's management. [ 23 ] In September 2023, Vaidyanathan sold 5.07 crore shares of IDFC First Bank for ₹ 478.7 crore (US$55 million) to US-based GQG Partners through a block trade transaction.
In 2008–09, the company acquired 100% of the share capital of IDFC Capital (Singapore) Pvt Ltd. In the same year, the company established IDFC Foundation to focus on capacity building, policy advisory and sustainability initiatives. [9] IDFC Bank started operating banking services on 1 October 2015. [10]
On February 19, Capital One announced it would acquire Discover in an all-stock transaction worth $35.3 billion. Both companies are among the largest credit card issuers in the country while ...
Before joining Warburg Pincus in 1997, Rajiv Lall was the Head of Asian Economic Research with Morgan Stanley Asia. [3]In 2005, Lall joined IDFC as MD and CEO. he serves as a director of IDFC Trustee Company Pvt. Ltd., IDFC Capital Company Limited, IDFC Projects Limited, IDFC-SSKI Securities Limited, IDFC-SSKI Limited, IDFC Bank, STCI Finance Limited, National Stock Exchange of India Limited ...
IDFC Project Equity is a finance company based in India and subsidiary of Infrastructure Development Finance Company Limited . IDFC Project Equity manages the India Infrastructure Fund (IIF), a SEBI -registered domestic venture capital fund focused on infrastructure with a corpus of INR 35 billion (US$875 million).
First Citizens (FCNCA) completes the merger with CIT Group, leading to the creation of the 20th largest bank in the United States in terms of assets.