iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

IDFC First Bank gets board approval to raise Rs 4,000 cr

5 Nov 2022 , 09:15 AM

IDFC First Bank on Friday announced: with the intent to further strengthening the balance sheet of the Bank and in order to sustain the growth plans of the Bank, the Board, at its meeting held today, has considered and approved the Capital Raise Plan of the Bank for the next one year, for an amount aggregating up to Rs. 4,000 Crore, to be raised in one or more tranches at an appropriate time, by way of issuance of equity shares/ Tier 1 Capital (Capital Raise). In this regard, the board has authorized the Capital Raise & Corporate Restructuring Committee of the bank, to decide on various avenues, mode(s) and the timing of the said capital raise, as it may deem fit. IDFC First Bank was formed by the merger of erstwhile IDFC Bank and Capital First. As on 30 September 2022, the bank has 670 branches and 812 ATMs (including recyclers) across the country. The bank has added 29 branches and 93 ATMs since 31 March 2022. The private lender reported a net profit of Rs 555.57 crore in Q2 FY23, steeply higher than Rs 151.74 crore recorded in Q2 FY22, driven by strong growth in core operating income. Total Income jumped 33.82% to Rs 6531.03 crore in Q2 September 2022 from Rs 4880.29 crore in the corresponding quarter previous year. Net Interest Income (NII) grew by 32% year on year (YoY) to Rs 3,002 crore in Q2 FY23 as against Rs 2,272 crore reported in Q2 FY22. Net Interest Margin (NIM) increased to 5.98% in Q2 FY23 compared to 5.83% in Q2 FY22. Capitalisation is healthy for the bank, as reflected in Tier 1 capital adequacy ratio (CAR) of 13.67% and overall CAR of 15.35% as on 30 September 2022 (14.88% and 16.74%, respectively, as on 31 March 2022). Shares of IDFC First Bank fell 0.17% to Rs 57.10 on Friday, 4 November 2022. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.