IDFC FIRST Bank Company Profile: Products, Promoters and Clients

IDFC FIRST Bank Company Description:

IDFC FIRST Bank aspires to make a world- class bank guided by ethics, powered by technology, and aimed at being a force for social good. It operates as a universal bank with apan-India presence and offers a wide range of products, including retail, SME, pastoral, commercial, trade, cash operation services( CMS), wealth operation, NRI banking, and storeroom results

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Q1. What are the Product and service offerings of the company?

The IDFC FIRST Bank provides a comprehensive suite of fiscal products and services across multiple sectors Commercial Lending( including Working Capital Loans, Term Loans, and Commercial Bonds), FASTag services for risk, parking, and energy payments, Treasury & Forex results( similar as pressman banking, FX results, and SWIFT services), Trade Finance( covering Letter of Credit, Bank Guarantee, and Remittances), Transaction Banking & CMS( offering NEFT/ RTGS/ IMPS Payments, UPI, and Cash Management), CASA and Fixed Deposits, NRI Banking( with NRE/ NRO Accounts and Deposits), a range of Credit Cards, Wealth Management & Distribution( including Insurance and Investment products), SME Lending results( like Business Loans and Micro Enterprise support), Supply Chain Financing, and Retail Lending results( including Home Loans and Consumer Finance). These services feed to different requirements, from individual banking and wealth operation to commercial finance and transnational trade facilitation.

Q2. Who are the Promoters/Management of the company?

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IDFC Financial Holdings hold 37.43% in IDFC First Bank

Mr. V. Vaidyanathan became MD and CEO of IDFC FIRST Bank in December 2018 after merging Capital First and IDFC Bank. Previously, he led ICICI Bank's retail division and later ICICI Prudential Life Insurance. He transformed Capital First into a major retail lender before merging it with IDFC Bank. Under his leadership, IDFC FIRST Bank's loan book grew to ₹2,00,965 crores ($24 billion) by March 2024, with significant increases in deposits, CASA ratio, and profitability (FY24 PAT ₹2957 crores, $355 million). He aims to make the bank a leading ethical and technology-driven institution for social good.

Mr. Sanjeeb Chaudhuri is a board member and advisor to global organizations across Europe, the US, and Asia. He previously served as Regional Business Head for India and South Asia for Retail, Commercial, and Private Banking, as well as Global Head of Brand and Chief Marketing Officer at Standard Chartered Bank. Prior to that, he was CEO for Retail and Commercial Banking at Citigroup for Europe, the Middle East, and Africa. He holds an MBA in Marketing and has completed an Advanced Management Program.

Q3. Who are the Clients of the company?

The bank's loan portfolio, valued at Rs. 2,00,965 crore as of March 31, 2024, is diversified across more than 25 business lines, reflecting its robust client base. Approximately 28.5% of the loan book is secured by mortgage assets, with significant allocations to Home Loans (11%), Loan Against Property (12%), and various forms of vehicle financing including Two Wheeler Loans (7%) and Car Loans (3%). The bank serves a wide spectrum of clients, from individuals seeking personal loans such as Salaried Personal Loans (6%) and Digital Personal Loans (6%), to small businesses availing Business Banking (4%) and Micro Credit & MSME Loans (5%). It also caters to large corporates (1%), emerging corporates (6%), financial institutions (8%), and infrastructure projects (1%), demonstrating a comprehensive approach to lending across retail, corporate, and institutional segments.

Written By:Khush Kothari

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