IDFC FIRST Bank Raises Rs 877 Crore to Fuel a New Era of Ethical, Digital Banking Revolution

IDFC FIRST Bank is proud to announce a significant funding milestone, having raised 877000000, which marks a pivotal step in our journey toward building a world-class bank in India. Formed in December 2018 through the merger of infrastructure finance giant IDFC Bank and retail finance specialist Capital First, our bank has consistently demonstrated a commitment to ethical, customer-friendly, digital, and socially responsible banking practices. This successful funding round not only reinforces our vision but also provides the necessary resources to expand our universal banking services—including retail, MSME, rural, startup, and corporate banking, along with an extensive suite of cash and wealth management solutions. The raised capital will be strategically allocated to enhance our technological capabilities and digital platforms, ensuring that customers continue to enjoy seamless, innovative banking experiences via our award-winning mobile app and robust internet banking system. In addition, a portion of the funds will be dedicated to furthering our mission of financial inclusion and social good banking, with targeted investments to empower 4.3 million women entrepreneurs, support 16 million lifestyle improvement loans, and drive ESG initiatives throughout our operations. Our ethical banking principles, including the industry-first ZERO FEE Banking on savings account services and our unique 'Near and Dear' test, remain at the core of our operations, ensuring that our services are as accessible to our customers as they are to our employees. As we continue to set benchmarks in the Indian banking sector, this funding will undeniably accelerate our journey towards delivering superior customer service and sustainable growth, thereby solidifying our reputation as India’s premier ethical and innovative bank.