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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. The company was listed on the NSE and BSE prior to the merger. [6] [7] [8]
IDFC Bank started operating banking services on 1 October 2015. [10] On 1 October 2024, IDFC Limited was merged with the bank, with shareholders receiving 155 shares of IDFC First Bank for every 100 IDFC Limited shares. [11]
Date. Acquiring bank. Acquired bank. Purchase price. Sept. 30, 1998. Bank of America. NationsBank. $62 billion. July 1, 2004. J.P. Morgan Chase. Bank One. $58 billion
[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.
Rank Name of the Bank Year of Founding Year of Closing Fate Headquartered in References [1]; 1: The Madras Bank (1683) 1683: 1843: Merged with the Carnatic Bank, The British Bank of Madras (1795), and the Asiatic Bank to form the Bank of Madras in 1843
Capital ratio: 15.31% [4] Website: www ... IndusInd Bank Limited is an Indian banking and financial services company with its headquarters in ... The merger was ...
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 ...