Capital First merges with IDFC Bank to create IDFC First Bank. 5 things to know
The boards of IDFC Bank and Capital First met yesterday to take note of all requisite approvals and the order from National Company Law Tribunal; and approved the scheme of amalgamation.
New Delhi: IDFC Bank and non-banking financial company (NBFC) Capital First have announced completion of their merger, creating a combined loan asset book of ₹ 1.03 lakh crore for the merged entity IDFC First Bank. “IDFC Bank and Capital First merged effective 18th December 2018. Merged entity to be called IDFC First Bank, subject to shareholders’ approval," the firms said in a joint statement.