Asset Strategy and Growth Post-Merger
Background of IDFC Bank
IDFC Bank Limited was formed as a part of demerger from its parent IDFC Limited on October 21, 2014.
SECTION 1: BACKGROUND
1997-2014
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2014-15
2015-16
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IDFC Limited, was set up in 1997 as a public private platform to finance infrastructure focusing primarily on project finance and mobilization of capital for private sector
infrastructure development. The growth of the Company has been driven by the substantial investment requirements of the infrastructure sector in India combined with
the growth in the Indian economy over the last several years. The Company's ability to tap global as well as Indian financial resources made it the acknowledged experts
in infrastructure finance.
In April 2014, the Reserve Bank of India (RBI) granted an in-principle approval to IDFC Limited to set up a new bank in the private sector, as per the RBI Guidelines for
Licensing of New Banks in the Private Sector. Subsequently, a Scheme of Arrangement was filed with the Madras High Court for Demerger of Financial Undertaking (the
lending business of IDFC) to IDFC Bank.
All the requisite approvals were obtained and the Madras High Court approved this Demerger by its Order dated June 25, 2015
On October 19, 2015, the Honorable Prime Minister, Mr. Narendra Modi inaugurated the opening of operations for the bank.
The bank launched 23 branches across India as a start of the operation. The bank launched corporate internet banking portal, and interoperable Aadhar-enabled Micro
ATMs.
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The shares of IDFC Bank Limited got listed in the exchanges in November 2015 at Rs. 70.5 a share.
2016-17
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IDFC Bank acquires Grama Vidiyal Micro Finance, one of the leading Micro Finance players in Southern India to boost its rural portfolio.
IDFC Bank Launches IDFC Aadhaar Pay, India's first Aadhaar-linked cashless merchant solution, following successful pilots across 16 states.
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2017-18
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IDFC Bank opens first branch in the North East, launches services in Meghalaya, Shillong.
The CASA deposits of the bank reached Rs. 2,094 Cr and the funded assets stood at Rs 66,567 Cr as of 31 March 2017.
IDFC Bank debuts in LinkedIn's Top Companies 2017 list, the only bank to be featured in the list.
Shriram Group and IDFC Bank explored merger possibility. In October, 2017 the merger discussions were aborted
IDFC Bank launches its 100th branch at Honnali, in Davanagere district of Karnataka. Total number of branches at the end of the financial year FY18 was 127 across 18
states across India.
On January 13, 2018, Capital First and IDFC Bank announced merger subject to regulatory approval.
The CASA deposits of the bank reached Rs. 5,710 Cr and the funded assets stood at Rs 70,099 Cr as of 31 March 2018.
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