IDFC FIRST Bank

IDFC FIRST Bank – Personal Banking, Loans, Accounts, Cards, Investment | IDFC FIRST Bank

IDFC FIRST Bank is a prominent private sector bank in India, formed by the merger of IDFC Bank and Capital First in December 2018¹. Here are some key details about the bank:

History and Formation

• Founded: IDFC Bank started operations in October 2015, and it merged with Capital First in December 2018 to form IDFC FIRST Bank¹.
• Headquarters: The bank is headquartered in Mumbai, Maharashtra¹.

Key Services and Products

• Consumer Banking: Offers a range of products including savings accounts, fixed deposits, personal loans, home loans, and credit cards¹.
• Business Banking: Provides services like current accounts, business loans, and trade finance¹.
• Digital Banking: Features robust internet and mobile banking platforms, allowing customers to manage accounts, transfer funds, and pay bills online².

Financial Performance

• Revenue: ₹36,257 crore (approximately US$4.3 billion) in 2024¹.
• Net Income: ₹2,942 crore (approximately US$350 million) in 2024¹.
• Total Assets: ₹296,210 crore (approximately US$35 billion) in 2024¹.

Innovations and Achievements

• Digital Transformation: The bank has been focusing on digital innovation to enhance customer experience and operational efficiency².
• Credit Rating: Holds a strong credit rating of CRISIL AA+/Stable¹.

Corporate Social Responsibility (CSR)

• Community Initiatives: Engages in various CSR activities, including education, healthcare, and environmental sustainability projects¹.

Global Presence

• International Operations: While primarily focused on the Indian market, the bank also caters to the banking needs of the Indian diaspora through its digital platforms¹.