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IDFC Bank is an Indian Banking Company. It was founded in the year 2015. It received its universal banking licence in July 2015 from the Reserve Bank of India. The headquarters of the bank are in Mumbai, Maharashtra, India. The current CEO of the IDFC First Bank is Mr V. Vaidhyanathan.
As of March 31 2019, the IDFC First Bank has built a national footprint through the operation of 242 branches. Out of 242, 133 are Urban Bank Branches and 109 are the Rural Bank Branches. It has 454 Corporate Business Correspondent (BC) branches, 141 ATMs and 102 asset-servicing branches spanning across cities in India. It also hosts 3 Central Processing Centers and 1 Clearing Hub primarily in the urban areas.
The IDFC First bank aims to serve corporate and private customers in India. This also includes the infrastructure sector that IDFC specialized in from its founding in 1997. The bank also strives to provide services to people in rural areas and to the self-employed.
The bank was the first bank in the country to launch the Aadhar linked cashless merchant solution. It also signed Mr.Amitabh Bacchan, the popular Bollywood actor as its brand ambassador in March 2020. The IDFC Bank also entered into a strategic partnership with MobiKwik. MobiKwik is a digital payment solution company. Together, they launched a co-branded virtual Visa prepaid card for customers of MobiKwik.
IDFC First Bank is listed on the National Stock Exchange of India and the Bombay Stock Exchange.
The bank management has the following core values at the heart of its operations: Honesty, Balance, Collaboration and Drive.
In January 2018, the formerly known IDFC Bank and Capital First went in for a merger. Their merger entity was named as the IDFC First Bank in December 2018. The shareholders of Erstwhile Capital First were to be issued 13.9 shares of the merged entity for every 1 share of Erstwhile Capital First. The merger was announced for the betterment of both the entities. It was aimed at strengthening the position of both.
IDFC First bank offers an array of services and products like Consumer banking, Home loans, Loans against property, Personal loans, Consumer Durable loans, Vehicle loans, Business loans, Micro-Enterprise loans, Private banking, Wealth Management, Investment banking, Corporate Banking, Wholesale banking.
Over its years of operation, IDFC First Bank has received several accolades for its excellent customer service and banking operations. Some of the laurels achieved by IDFC First Bank are as follows:
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A comparative analysis of the Private Banking Sector is available on the website. It helps to analyze the company's competitive position and its operating results over a specific period. It gives an investor a sense of whether the company is growing, stable or deteriorating. This gives investors clarity about which stock they should invest in.
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They offer IDFC First Bank Q1 FY 2020-21 Results Highlights and IDFC First Bank Stock Analysis based on Q4 FY 19-20 results as well. These IDFC First Bank annual report analysis help in fundamental and technical analysis of IDFC First Bank.
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Our website has information about 21 other private banks which give insight about the financials of the company. Companies include ICICI Bank, Axis Bank, IDBI Bank, Bandhan Bank, Yes Bank, IndusInd Bank, AU Small Finance Bank, HDFC Bank and Kotak Mahindra Bank.
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