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IDFC First Bank (stylised as IDFC FIRST Bank) is an Indian private sector bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, an Indian non-bank financial institution.
On December 18, 2018, the IDFC Bank and Capital First merged, and subsequently renamed IDFC FIRST Bank. As of June 30, 2023, IDFC Limited through its non-financial holding company has 39.93% shareholding of IDFC FIRST Bank. IDFC FIRST Bank is operating as a full-service universal bank with pan-India presence.
History. IDFC FIRST Bank was founded by the merger of Erstwhile IDFC Bank and Erstwhile Capital First on December 18, 2018. Erstwhile IDFC BANK LTD. IDFC Limited was set up in 1997 to finance infrastructure, focusing primarily on project finance and mobilization of capital for private sector infrastructure development.
2 days ago · IDFC First Bank completed its merger with IDFC Limited, effective October 1, 2024, following necessary approvals. Shareholders will receive 155 bank shares for every 100 IDFC shares.
2 days ago · IDFC First Bank has announced the successful completion of its merger with IDFC Limited. The announcement, made on Friday, signifies the culmination of an extensive process that involved gaining ...
2 days ago · Appointed Date 1: September 30, 2024, for the merger of IDFC FHCL into IDFC Limited. Appointed Date 2: October 01, 2024, for the merger of IDFC Limited into IDFC FIRST Bank. The record date for ...
Jul 3, 2023 · IDFC Bank further strengthened its business following the merger with the Capital First Ltd in December 2018 and was subsequently renamed IDFC FIRST Bank Limited. As a promoter, IDFC was required to hold a minimum of 40% equity in the Bank for five years (till September 30, 2020).
