Capital First Strategy, Loan Growth and Profitability Trends
"
Section 2: Key excerpts from MD & CEO's Letter - Annual Report 2018-19
Theme of inaugural Annual Report after merger AR 18-19: "A New Beginning"
Our founding philosophy:
"The founding years, which I call the next five years, are
particularly important, as the DNA we establish now will be
hard to correct later. We will make every effort to sell the
right products to customers, avoid mis-selling, avoid selling
such third-party products that make wonderful fees for us
but at the cost of expensive products for the customer. If we
make a mistake, we will apologise and correct it. After all,
we do not want to take this Bank to great heights in profits
and profitability while having earned any penny that truly
does not belong to us."
Strategy for the Bank:
We plan to implant the erstwhile Capital First's tried
and tested model of financing small entrepreneurs
and consumers [a retail franchise, growing at 29%
per annum and 5-year profit CAGR of 55%, (FY18
PAT grew by 37%)], on a bank platform, (IDFC Bank's
strong branch network of 242 and growing, excellent
technology stack, quality internet and mobile banking,
and strong rural presence). "
V Vaidyanathan, MD & CEO, IDFC FIRST Bank
Section 2: Vision and Mission
Our Vision
We want to create the world's best
bank, right here in India, for aspiring
Consumers and Entrepreneurs.
Our Mission
We want to touch the lives of millions of Indians in
a positive way by providing high-quality banking
products and services to them, with particular
focus on aspiring consumers and entrepreneurs
of our new India, using contemporary
technologies.
#alwaysyoufirst
When IDFC FIRST Bank was formed with the merger between erstwhile Capital First
and erstwhile IDFC Bank, we deliberated a lot on what our founding theme should be
and finalised on the theme 'Always You First' - where 'You' refers to our customer.
This theme cuts across the entire organisation and binds the bank to a single theme.
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IDFC FIRST
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