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In January 2018, IDFC Bank and MSME financing company Capital First announced a merger. [14] Capital First was founded as Future Capital Holdings under the Future Group, and was acquired by Warburg Pincus and V. Vaidyanathan in 2012. [15] [16] As per a September 2017 stock filing, Capital First had a retail loan portfolio of ₹ 229.7 billion.
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]
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On 13 January 2018, IDFC Bank and Capital First announced a merger. IDFC Bank issued 139 shares for every 10 shares of Capital First, and Vaidyanathan took over as the MD and CEO of the combined bank. [21] [22] Effectively Vaidyanathan successfully secured a banking license for Capital First through the merger and assumed control of the bank's ...
Getting approved for a first credit card can be an exciting time, but you’ll want to make sure you have a plan to maximize the experience. By using your card intentionally, avoiding long-term ...
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 .
The National Financial Switch was launched by the IDRBT on 27 August 2004, connecting the ATMs of three banks, Corporation Bank, Bank of Baroda and ICICI Bank. [3] [4] [5] The IDRBT then worked towards bringing all major banks in India on board and by December 2009, the network had grown to connect 49,880 ATMs of 37 banks, thereby emerging as the largest network of shared ATMs in the country.
On 23 November 2021, the bank announced its partnership with HDFC Bank, for a co-branded credit card. [16] In 2021, the boards of both Equitas Small Finance Bank and its holding company, Equitas Holding Company, approved a reverse merger between the two companies. [17] The merger was completed in March 2023. [18]