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Indian private-sector bank formed from an infrastructure lender merging with a consumer-finance company, now focused on retail and MSME banking.
Indian private-sector bank formed from an infrastructure lender merging with a consumer-finance company, now focused on retail and MSME banking.
Makes money from the spread between loan rates and deposit costs plus fees on cards and payments, and its aim is to replace costly wholesale borrowing with cheaper savings and current-account deposits, since lower funding cost is what lifts that spread. Consumer and small-business loans now make up most of lending as the older infrastructure book shrinks.
In one line: A turnaround Indian retail bank.
Moat: none (distribution). Still building a low-cost deposit franchise; no durable structural edge over larger private banks yet.
Headquarters: Mumbai, India · Founded: 2015 · Employees: 43,059
Size IDFC First Bank (IDFCFIRSTB.NS) is an India Financials company (Regional Banks) with a market value of $7.05B, the 164th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹77.33 on 6 Nov 2026.
Performance Over six months the shares gained 9.9%, against +6.1% for the median peer and 0.0% for the India market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 13.4% over the last twelve months (peer median +5.5%); the operating margin is 11.7% (peer median 45.2%).
Valuation It trades at 1.35× book value against a peer median of 1.37× (11th cheapest of 21).
Price implies The share price implies a return on equity of about 24.3%; IDFC First Bank delivers 6.3%, so the price asks more than the business earns today.
Next results Next results expected around 25 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹523B | ₹486B | ₹433B | ₹362B | ₹272B |
| Revenue growth | — | +12% | +19% | +33% | — |
| Net income | ₹30.1B | ₹16.1B | ₹14.9B | ₹29.4B | ₹24.8B |
| Free cash flow | n/a | ₹82.8B | ₹85.6B | ₹43.1B | ₹39.9B |
| Capital expenditure | n/a | ₹7.77B | ₹9.19B | ₹13.7B | ₹11.9B |
| Total debt | ₹540B | ₹490B | ₹521B | ₹592B | ₹625B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| IDFC First Bank IDFCFIRSTB.NS | $7.05B | +10% | +13% | 6% | 1.35× | 24.3% |
| HDFC Bank HDFCBANK.NS | $129B | -1% | +5% | 14% | 2.00× | 24.8% |
| ICICI Bank ICICIBANK.NS | $119B | +23% | +8% | 16% | 2.89× | 36.7% |
| Axis Bank AXISBANK.NS | $43.6B | +2% | +7% | 14% | 1.78× | 25.1% |
| Kotak Mahindra Bank KOTAKBANK.NS | $50.5B | +27% | +12% | 12% | 2.45× | 29.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IDFCFIRSTB.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.8% | +1.5% | 7th lowest of 21 |
| 6-month return | +9.9% | +6.1% | 10th highest of 21 |
| Return on equity | 6.2% | 11.0% | lowest of 21 |
| Price / book | 1.35× | 1.37× | 11th cheapest of 21 |
| Trailing P/E | 22.4× | 13.1× | most expensive of 20 |
| ROE the price implies | 24.3% | 8.5% | 3rd most demanding of 20 |
| ROE delivered | 6.3% | 11.1% | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| IDFC First Bank IDFCFIRSTB.NS | India | $7.05B | +10% | +13% | 6% | 1.35× | 24.3% | 6.3% |
| Bank Millennium MIL.WA | Poland | $7.04B | +26% | -2% | 16% | 2.80× | 38.0% | 15.6% |
| Kyoto Financial Group,Inc 5844.T | Japan | $7.14B | -11% | +19% | 8% | 0.79× | 5.9% | 7.9% |
| KakaoBank 323410.KS | South Korea | $7.28B | -15% | +6% | 7% | 1.46× | 8.5% | n/a |
| AU Small Finance Bank AUBANK.NS | India | $7.39B | -10% | +17% | 16% | 3.21× | 44.0% | 15.7% |
| BNP Paribas Bank Polska Spolka Akcyjna BNP.WA | Poland | $6.65B | +20% | -8% | 16% | 1.59× | 14.8% | 16.2% |
| Shanghai Commercial & Savings Bank 5876.TW | Taiwan | $7.56B | +34% | -17% | 9% | 1.17× | 4.0% | 8.6% |
| United Bankshares UBSI | United States | $6.57B | +11% | +4% | 9% | 1.20× | 9.7% | 9.4% |
| Hachijuni Nagano Bank 8359.T | Japan | $6.53B | +6% | +20% | 7% | 0.85× | 5.6% | 6.5% |
| Ringkjobing Landbobank A/S RILBA.CO | Denmark | $6.44B | +16% | +2% | 20% | 3.58× | 10.2% | 20.5% |
| Bank of Suzhou 002966.SZ | China | $6.41B | +12% | +5% | 11% | 0.79× | 2.8% | 10.9% |
| Rakuten Bank 5838.T | Japan | $6.36B | -9% | +38% | 22% | 2.55× | 8.1% | 21.5% |
| Commerce Bancshares CBSH | United States | $7.82B | +6% | +9% | 15% | 1.87× | 12.1% | 14.9% |
| Luzerner Kantonalbank LUKN.SW | Switzerland | $7.86B | +28% | -3% | 9% | 1.76× | n/a | 8.9% |
| Glacier Bancorp GBCI | United States | $6.27B | -1% | +21% | 9% | 1.45× | 11.2% | 8.8% |
| Western Alliance Bancorp WAL | United States | $8.13B | -8% | +8% | 13% | 1.11× | 12.9% | 13.2% |
| Bank of Changsha 601577.SS | China | $6.03B | 0% | -9% | 11% | 0.52× | 2.8% | 11.1% |
| Qilu Bank 601665.SS | China | $6.02B | +2% | +1% | 12% | 0.75× | 3.2% | 12.2% |
| Home BancShares HOMB | United States | $5.97B | +12% | +2% | 11% | 1.31× | 10.2% | 11.1% |
| Gunma Bank 8334.T | Japan | $5.78B | +11% | +22% | 10% | 1.43× | 7.8% | 10.3% |
| Prosperity Bancshares, Inc.(R) PB | United States | $8.60B | +4% | +19% | 6% | 0.88× | 7.5% | 6.5% |