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Total deposits of the bank increased by 38.7 percent on-year from Rs 1. 45 lakh crore as of March 31, 2023 to Rs 2.01 lakh crore as of March 31, 2024.
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Vaidyanathan said the Rs 1 crore penalty imposed on the bank earlier this month was for the sanction of an infrastructure project financing loan to a Karnataka PSU company in 2016 or 2017.
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In the past Vaidyanathan has gifted shares to a deceased colleagues’ kin, his trainer, house help and driver
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The IDFC First Bank MD and CEO says the transformation of the ecosystem from a traditional one to a new-age digital one is heavily backed by startups
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Vaidyanathan said that innovation by startups and fintechs is leading a change in the Indian banking sector.
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Under the first pilot project that starts on December 1, four banks have created a wallet in their mobile banking applications where these CBDCs will be available to select customers.
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While Vaidyanathan gifted nine lakh shares, two lakh shares were disposed by Rukmani Social Welfare Trust for social activities. This works out to Rs 4.83 crore at February 21 market price.
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At Thursday's share price of Rs 55.30 rupees apiece, the shares are worth a total of approximately Rs 2.5 crores.
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Last month, IDFC Bank and non-banking financial company Capital First completed their merger, creating a combined loan asset book of Rs 1.03 lakh crore for the merged entity IDFC First Bank.
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GIC Singapore has taken close to 9 percent of stake in the company, additionally, taking their own stakeholding to 14 percent, said V Vaidyanathan, Chairman, Capital First.
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Capital First expects to grow by 25 percent over the next 4-5 years and promoters are not looking to offload their stake in the company as they believe in the long-term story, says V Vaidyanathan, Executive Chairman of Capital First.
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Chairman and Founder of Capital First, V Vaidyanathan says that although demonetisation did have an impact on the economy, it did not collapse businesses.
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For the first two weeks after the cash ban the collections were down by 50 percent, says V Vaidyanathan, Executive Chairman of Capital First.
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Capital First's Rs 340-crore preferential issue to Caladium Investment is likely to be completed in a month, says Chairman and Managing Director V Vaidyanathan.
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Discussing Capital First's second quarter results with CNBC-TV18 Chairman and Managing Director V Vaidyanathan says this was helped by 15 percent growth in the SME business and more than 40 percent growth in the consumer and two-wheeler financing businesses.
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Reacting to this development Dinesh Kanabar told CNBC-TV18 that this is an unexpected but brilliant move which will bring out the huge cash pile stacked away supporting the parallel economy.
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In an interview on CNBC-TV18, V Vaidyanathan of Capital First said that the cost of borrowing is expected to fall by 100 basis points and all NBFCs will see improvement in return on equity (RoE) due to the change in bond pricing.
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In his interview to Network 18, Narendra Modi had said that he did not reveal the full economic rot before his first Budget as he thought that it would depress business and investor sentiment further
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Brickwork Finance Academy
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We give a loan of Rs 1 crore for a tenure of about 15 years with interest of 12-12.5 percent to customers against security, but we also lend to unsecured customers, We also lend small sum of Rs 20,000-50,000 via algorithmic lending, says V Vaidyanathan, the CMD of Capital First in an interview to CNBC-TV18.
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After the company reported a strong AUM growth in the fourth quarter, Capital First CMD V Vaidyanathan is confident of replicating the story in FY17, too. He believes that a CAGR growth of 25 percent is quite manageable.
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The company's asset under management (AUM) grew at 24 percent to Rs 11,976 crore.
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The Warburg Pincus-backed Capital First Ltd, a non-banking finance company, which is largely into financing Micro, Small and Medium Enterprises (MSMEs), says MSMEs is a largely under-penetrated area.
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Capital First Limited The company will allot 83.6 lakh shares for Rs 128 crore to Warbug Pincus affiliate Cloverdell Investment and another 32.5 lakh shares to HDFC Standard Life Insurance Company for Rs 50 crore. Post the transcation, the Cap[ital First's combined Tier 1 and Tier 2 capital will increase to Rs 1791 crore.
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V Vaidyanathan, CMD of Capital First, says that there is no significant reason for the stock's price dipping 20% on Tuesday. The depreciation of the rupee has not affected the company's SME portfolio as of now, but it will now adopt a cautious approach.
