IDFC Bank and non-banking financial company (NBFC) Capital First has announced the completion of their merger, creating a combined loan asset book of Rs 1.03 lakh crore for the merged entity IDFC First Bank. The merged entity to be called IDFC First Bank, subject to shareholders’ approval.
Following the merger, the board of IDFC Bank approved the appointment of V Vaidyanathan, founder and chairman of Capital First Ltd, as Managing Director and Chief Executive Officer of the merged entity. His appointment awaits shareholders’ approval.
Source- The Livemint
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- IDFC Bank Headquarters in Mumbai, Maharashtra.