1. IDFC FIRST Bank is born to be distinctly different from what it was earlier.
2. It has a renewed focus on retail business with an intent to fast-forward its growth trajectory, and to serve many more customer segments that are growth-drivers of the Indian economy.
3. Our new bank fuses state-of-the-art technology superior liability platform of erstwhile IDFC Bank with analytics-led lending capabilities, the retail DNA and strong profitability track record of erstwhile Capital First. It enables both the institutions to expand capabilities and reach and to better serve customers.
4. Thus, the merger sets the stage for the creation of a financially and strategically stronger entity.
5. IDFC FIRST Bank now has a strong funded asset base of more than ₹ 1,71,500 crore with 79% in the retail segment.
6. Its quarterly annualised Net Interest Margin has expanded from 1.9% to 6.3% in Q1 FY24. The Bank now enjoys a leading position in some of the retail asset segments.
7. The Bank’s tech-driven liabilities platform is ready to grow exponentially with a new focus on expanding footprint across the nation.