ABOUT IDFC FIRST BANK 

IDFC FIRST Bank's vision is to build a world-class bank in India that's guided by ethics, powered by technology, and a force for social good. 

Philosophy: The Bank has a customer-first philosophy offering high-quality products including current accounts, savings accounts, fixed deposits, retail loans, business loans, corporate banking, cash management solutions, FASTag, wealth management, and 24/7 customer care services. IDFC FIRST bank is one of the select banks to work with the regulator for pilot projects for many banking technology initiatives for India like CBDC, UPI for foreigners etc. 

Unique Benefits for customers: The Bank is the first and only bank in India that offers Zero fees for 28 essential services on savings accounts including for ATM cash withdrawals, IMPS, RTGS, NEFT, Cash Deposits and Cash withdrawals at branches, SMS Alerts, Cheque book, Demand Drafts, Pay-order, duplicate statements, etc. IDFC FIRST Bank is the first bank to offer monthly credit on savings accounts, so customers earn more with us. The bank’s credit cards have unique features such as lifetime free, never-expiring rewards points, zero interest on cash withdrawal at ATMs and low APR. 

Ethics First: IDFC FIRST Bank prioritizes ethics in all its dealings and product design. The Bank believes income earned unethically is not worth earning. The Bank applies a "Near and Dear" Test in all product design, so that the employees of the Bank serve only such products to customers that they'd want for their own loved ones. 

Transformation: IDFC FIRST Bank has transformed from infrastructure to retail banking in four years since merger, increasing CASA ratio from 8.6% to 46.5% (June 30, 2023) and increased Retail Deposits as % of total deposits from 27% to 77%, and set up 824 branches and 1,069 ATMs. 

Financial Performance: The Bank recorded a PAT of Rs. 765 crore (~US$ 93 million) in Q1-FY24, with strong Capital Adequacy of 16.96%. The Bank has high asset quality, with Retail, Rural & SME book having Gross NPA of 1.53% and Net NPA of 0.52% as of June 30, 2023. Overall Gross NPA including infrastructure is 2.17% and Net NPA is 0.70%. 

ESG Goals: The Bank is highly committed to ESG. The Bank has high governance scores, the business lines naturally support social goals, and efforts are ongoing to achieve environmental goals