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IDFC FIRST Bank to Raise Rs 3,200 cr Via Preferential Issue

NewsVoir Mumbai Maharashtra [India] May 31 IDFC FIRST Bank has laid a robust foundation with a strong and profitable business model The Bank is seeing strong traction in raising deposits with customer deposits growing by 42 in FY24 over FY23 The Bank also sees significant upcoming opportunities for loan growth with high asset quality The overall asset quality of the Bank continues to be good with GNPA of 188 and NNPA of 060 as of March 31 2024 In the retail rural and sme finance book the Gross and Net NPA continues to be quite low at 138 and 044 respectively as of March 31 2024 The Bank is also well positioned in terms of experience team technology systems risk management and controls to take advantage of the growth opportunities in a stable manner The business is also profitable with the profit after tax increasing to Rs 2957 crores in FY24 an increase of 21 over Rs 2437 crores in FY23 The capital adequacy as of March 31 2024 is strong at 1611 With the objective to take advantage of u

Business News | IDFC FIRST Bank to Raise Rs 3,200 Cr Via Preferential Issue

Get latest articles and stories on Business at LatestLY. Mumbai (Maharashtra) [India], May 31: IDFC FIRST Bank has laid a robust foundation with a strong and profitable business model. The Bank is seeing strong traction in raising deposits with customer deposits growing by 42% in FY24 over FY23. The Bank also sees significant upcoming opportunities for loan growth with high asset quality. The overall asset quality of the Bank continues to be good, with GNPA of 1.88% and NNPA of 0.60% as of March 31, 2024. In the retail, rural and sme finance book, the Gross and Net NPA continues to be quite low at 1.38% and 0.44% respectively as of March 31, 2024. Business News | IDFC FIRST Bank to Raise Rs 3,200 Cr Via Preferential Issue.

IDFC FIRST Bank to raise Rs 3,200 cr via preferential issue

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IDFC First Bank to raise Rs 3200 cr through preferential issue