IDFC First Bank slips 4% as board approves ₹7,500 crore fund raise

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IDFC First Bank slips 4% as board approves ₹7,500 crore fund raise - Business Standard

Quick Summary:

The bank's board approved preferential issue of equity capital (CCPS) amounting to ₹7,500 crore to Currant Sea Investments B.V.and Platinum Invictus B 2025 RSC.

However, profitability dipped in the first nine months (April to December) of the financial year 2024-25 (9MFY25) due to industry wide challenges in microfinance, which the bank has navigated well.

The Bank’s customer deposits are growing at 25.2 per cent YoY and Loans & Advances growing by 20.3 per cent YoY (as of March 31, 2025 as per provisional disclosure) based on friendly user digital interface, ethical approach, and a strong brand.