IDFC Bank Share Price?
Description:
IDFC First Bank operates within the banking sector. As of April 16, 2021, its market capitalization is at INR 33,226.39 Cr. In 2018, the bank was established. Revenue of INR 3,952.46 Cr was reported by the bank for the quarter that concluded in December 2020. This bank is represented by the Bombay Stock Exchange (BSE) code 539437 and the National Stock Exchange (NSE) symbol IDFCFIRSTB. The bank's headquarters in Mumbai. It believes in providing a wide range of retail banking options to customers across the country while maintaining technological integrity and great customer service. IDFC First Bank was formed by the merger of the IDFC Bank and Capital First. In 2014, the Reserve Bank of India (RBI) approved IDFC Limited's application to establish a new private sector bank. Following this, IDFC Limited transferred its infrastructure-related assets and liabilities to the IDFC Bank. The bank started operations with 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad, and Kolkata. Fifteen branches are located in communities with populations of fewer than 10,000. The bank opened its 100th branch in Hanneli, Karnataka, in October 2017.
In 2018 January, IDFC Bank and Capital First announced their merger. Capital First shareholders received 13.9 shares of the combined business for each Capital First share they owned. The bank serves both private and corporate customers around the country. It also aims to serve those in rural areas and self-employed persons. The bank is the first in India to offer an Aadhaar-enabled cashless merchant solution. One of its most major e-commerce loans is a?3 billion (US$42 million) loan to Flipkart. The bank has a collaboration with MobiKwik, a digital payments system provider. It released a co-marketed virtual Visa prepaid card for MobiKwik subscribers on November 8, 2017. On March 11, 2020, the bank announced that Mr. Amitabh Bachchan had been recruited as its first brand ambassador. It announced its entry into the credit card market with low interest rates and interest-free financing in 2021. The bank reported a profit after tax of Rs.130 crore during the third quarter of fiscal year 2021, compared to a loss of Rs.1,639 crore in the third quarter of fiscal year 2020. The profit after tax was set at Rs. 324 crores by December 31, 2020.
IDFC First Bank's share price as of June 25, 2024, is Rs. 82.95. The IDFC First Bank share price slumped by 6.22% in the previous six months but has risen by 6.69% in the last year. The share price of IDFC First Bank peaked at Rs. 100.7 after 52 weeks, having fallen as low as 70.8.
Social, Environmental, and governance
Established in Grama Vidiyal, Tamil Nadu, IDFC FIRST Bharat Limited (IFBL) was founded in 1986 as a Public Charitable Trust. In 2003, it evolved into Grama Vidiyal Micro Finance Limited (GVMFL) with dual focus on financial inclusion sustainability and women and family development.After acquiring GVMFL in 2016, IDFC Bank renamed it IDFC Bharat Limited, which went on to become a fully owned subsidiary of IDFC Bank. Following the merger with Capital First Limited, it became IDFC FIRST Bharat Limited.
