The managing director and CEO of IDFC First Bank Ltd., V. Vaidyanathan, and his group have excelled. The bank has accomplished an absolutely amazing turnaround during the last 22 quarters. Nearly all of the metrics that the team set out to achieve in December 2018 have been satisfied by the team. The stock price is still disappointing, though.
This is a depressing result. Long-term investors are disappointed since, despite the bank reaching all of its goals at the time of the merger in December 2018, the stock price has not reflected this. The bank has underperformed even the Nifty 50 during the past five years.
Fundamentally speaking, Centrum Broking believes that IDFC First Bank will continue to fall short of its projections for improving its return profile in FY25. However, this brokerage pointed out that despite challenges in the macro environment, IDFC First Bank has been continuously delivering on the balance sheet front following the bank’s Q1 results in July.
Is IDFC First Bank good or not?
The overall rating of IDFC First Bank is 4.1 out of 5, which is determined by more than 2,446 employee anonymous reviews. 82% of workers have a favorable outlook for IDFC First Bank and 79% would suggest the company to a friend. The last 12 months have seen no change in this rating.
About IDFC First Bank
Infrastructure Development Finance Company is the full name of IDFC Bank. It is a finance business that offers investment banking, asset management, and infrastructure finance and consultancy services. The company’s affiliate IDFC Bank just joined the banking industry. As of September 2019, Mr. Vaidyanathan serves as the CEO and Managing Director (MD) of IDFC First Bank. The RBI granted a banking licence to IDFC, a non-banking financial firm, on July 23, 2015. With 23 locations planned in Delhi, Madhya Pradesh, Mumbai, and three Madhya Pradesh districts, it started operations on October 1, 2015.
