IDFCFIRSTB

May 20 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• IDFC FIRST BANK - SHAREHOLDERS APPROVE 75 BILLION RUPEES FUND RAISE

Source text: ID:nBSE90M5b

Further company coverage: IDFB.NS

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Updates with deal value in paragraphs 2-3

By Siddhi Nayak and Anton Bridge

MUMBAI/TOKYO, May 9 (Reuters) - Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) has signed a definitive agreement to take a 20% stake in Indian private lender Yes Bank YESB.NS, a deal that marks the largest cross-border merger and acquisition deal in India's financial sector.

The total value of the deal, which involves SMBC buying shares from eight existing shareholders, comes up to 134.8 billion rupees ($1.58 billion), Sumitomo Mitsui Financial Group 8316.T said in a statement.

SMBC, is a unit of Sumitomo Mitsui Financial Group and is Japan's second-biggest bank.

Restrictions on ownership, stricter capital requirements, and state domination of the banking sector have made cross-border deals a rarity across Indian banks. A takeover of troubled Lakshmi Vilas Bank by Singapore-based DBS Group DBSM.SI in 2020 was the last major deal in the sector.

SMBC's stake purchase in Yes Bank, which will make it the largest shareholder in the lender, also marks the latest major overseas acquisition by a Japanese financial institution as they look to secure new sources of growth after years of rock bottom interest rates at home and a shrinking domestic population.

Last month investment bank Nomura 8604.T acquired Macquarie Group's MQG.AX U.S. and European public asset management businesses for $1.8 billion and last December Nippon Life Insurance made Bermuda-based Resolution Life a wholly-owned subsidiary for around $8.2 billion.

As part of the deal, SMBC will acquire a 13.19% stake from State Bank of India SBI.NS, also its largest investor, and an aggregate of 6.81% from Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank Limited and Kotak Mahindra Bank, Yes Bank said in a stock exchange filing.

SBI holds a 24% stake in Yes Bank, as a result of the regulator-led restructuring of the lender in March 2020.

ICICI Bank ICBK.NS, HDFC Bank HDBK.NS, Kotak Mahindra Bank KTKM.NS, Axis Bank AXBK.NS and Life Insurance Corporation of India LIFI.NS together hold an 11.34% stake in Yes Bank.

The transaction is subject to regulatory approvals from the Reserve Bank of India, Competition Commission of India and shareholders of the Bank, Yes Bank said.

SMBC's investment "marks a pivotal step in our next phase of growth," CEO Prashant Kumar said in the release.

SMBC was advised by financial advisors JPMorgan and Jefferies, Yes Bank said.

Reuters had reported this week that SMBC was close to agreement on acquiring a stake in Yes Bank and had received a verbal go-ahead from the central bank.

Shares of Yes Bank closed nearly 10% higher ahead of the announcement on Friday and have gained 2.2% so far this year.

($1 = 85.3990 Indian rupees)

(Reporting by Siddhi Nayak in Mumbai and Anton Bridge in Tokyo
Editing by David Goodman and David Evans)

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** IDFC FIRST Bank IDFB.NS falls as much as 4.5% to 63.11 rupees

** Co's Q4 net profit falls 58% y/y fall as the bank doubled its provisions, keeping more funds aside to cover potential losses

** Jefferies says high credit costs, net interest margins (NIM) drag from microfinance loans resulted in weak Q4

** Expects trends to improve from Q2 FY26 as margin pressures from rate cuts start to normalise

** Bank's NIM fell 9 bps q/q to 5.95% in Q4

** Stock rated "hold" on avg; median PT is 69 rupees, per data compiled by LSEG

** YTD, IDFB gains 4.1%

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

April 17 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• IDFC FIRST BANK - APPROVES FUNDRAISE OF UP TO 75 BILLION RUPEES

• IDFC FIRST BANK - INVESTMENT AGREEMENT BETWEEN CURRANT SEA INVESTMENTS B.V., BANK

• IDFC FIRST BANK - APPROVED ISSUANCE OF SECURITIES BY WAY OF PREFERENTIAL ALLOTMENT

• IDFC FIRST BANK - APPROVED PREFERENTIAL ISSUE WORTH 48.76 BILLION RUPEES TO WARBURG PINCUS LLC AFFILIATE

• IDFC FIRST BANK - PREFERENTIAL ISSUE OF 26.24 BILLION RUPEES TO ABU DHABI INVESTMENT AUTHORITY UNIT

• IDFC FIRST BANK - WARBUG PINCUS TO HOLD 9.48%, ADIA TO HOLD 5.10% OF BANK ON CONVERSION OF CCPS

• IDFC FIRST BANK - PROPOSED FUND RAISE WILL INCREASE BOOK VALUE PER SHARE BY 2.3%

• IDFC FIRST BANK - PROPOSES TO GROW THE OVERALL LOAN BOOK AT ABOUT 20% FOR NEXT FEW YEARS

Source text: ID:nBSE5KPXDG

Further company coverage: IDFB.NS

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April 3 - ** Shares of IDFC First Bank IDFB.NS climb 3.2% to 59 rupees
** Private lender's loans and advances grows 20.3% y/y to 2.01 trillion rupees ($23.47 bln) as on March 31

** Bank's customer deposits rises 25.2% y/y to 1.94 trillion rupees as on March 31
** Stock heads for biggest weekly gain since week-ended June 12, 2023; up 7.8% for the week so far
** More than 94.2 mln shares traded, ~3x its 30-day moving avg
** Avg rating of 16 analysts covering the stock is "hold" and median PT is 67.5 rupees, ~14% higher than current price - data compiled by LSEG
** IDFB trims YTD losses to ~6%

($1 = 85.6500 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

Corrects media packaging code to "IDFC FIRST BANK-STOCKS/" from "IDFC FIRST BANK-STOCK/"

Jan 27 (Reuters) - Shares of IDFC First Bank IDFB.NS fell nearly 7% on Monday to their lowest in 21 months after the private lender reported its third-quarter profit more than halved, hurt by higher bad loan provisions in the microfinance business.

IDFC First Bank, on Saturday, reported that gross slippages, or the loans classified as non-performing for the first time, in the microfinance segment jumped nearly 49% on-quarter to 4.37 billion rupees.

"The microfinance industry continues to drag earnings and we see the pain continuing for three-four quarters," analysts at Jefferies said in a note.

The stock is down about 9% so far this month, after losing nearly 29% last year.

(Reporting by Sethuraman NR; Editing by Eileen Soreng)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

• India's FY25 fiscal deficit is estimated to be lower than budget but may not lead to any cut in borrowing via debt, IDFC First Bank says

• Says deficit estimated to be lower budget estimate by around 830 bln rupees ($9.66 bln)

• As a proportion of GDP, fiscal deficit is estimated at 4.7% vs 4.9% target

• Still, government is not expected to cut supply, given the strong demand for government bonds

• "Given expectation of fiscal deficit being lower than budget estimate plus strong non-competitive collection, there could be scope to cut t-bill issuance," economist Garua Sen Gupta says

• She expects 10-year benchmark bond yield IN067934G=CC to moderate to 6.50%-6.60% by March, from 6.76% current level

($1 = 85.9040 Indian rupees)

(Reporting by Dharamraj Dhutia)

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Jan 3 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• IDFC FIRST BANK LTD - CUSTOMER DEPOSITS GREW 28.8% Y/Y AS OF DEC END

• IDFC FIRST BANK LTD - LOANS & ADVANCES GREW 21.9% Y/Y AS OF DEC END

• IDFC FIRST BANK - TOTAL BUSINESS GREW 25.2% Y/Y AS OF DEC 31

Source text: [ID:]

Further company coverage: IDFB.NS

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Dec 27 (Reuters) - Reliance Infrastructure Ltd RLIN.NS:

• RELIANCE INFRASTRUCTURE - UNIT RECEIVES NOTICES FROM AXIS BANK AND IDFC FIRST BANK

• RELIANCE INFRASTRUCTURE LTD - NOTICES INVOKE RIGHT OF SUBSTITUTION UNDER CONCESSION AGREEMENT

• RELIANCE INFRASTRUCTURE LTD - NOTICES CITE ALLEGED DSRA DEFAULTS BY UNIT

• RELIANCE INFRASTRUCTURE - FINANCIAL IMPACT ON CO UNDETERMINED AT THIS STAGE

Source text: ID:nBSE3kWTMJ

Further company coverage: RLIN.NS

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Adds India's chief economic adviser's comments

By Manoj Kumar and Shivangi Acharya

NEW DELHI, Nov 29 (Reuters) - India's economic growth slowed much more than expected in the third quarter, hampered by weaker expansions in manufacturing and consumption, likely adding pressure on the central bank for interest rate cuts.

Gross domestic output INGDPQ=ECI in the world's fifth-biggest economy rose by 5.4% in July-September year-on-year, data showed on Friday, the slowest pace in seven quarters and below a Reuters poll of 6.5%. In the previous quarter it grew 6.7%.

The gross value added (GVA), a more stable measure of economic activity, also saw a modest 5.6% growth, easing from a 6.8% increase in the previous quarter.

India's chief economic adviser V. Anantha Nageswaran told reporters the growth figure was disappointing amid a challenging global environment.

"The bulk of the slowdown has been predominantly due to the manufacturing sector ... Some of it is also due to the presence of excess capacity elsewhere and imports dumping in India," he said, highlighting surging imports of cheap steel from China, Japan and South Korea.

The slowdown, visible across a number of sectors, was indeed most pronounced in manufacturing, where year-on-year growth dropped to 2.2% compared with 7% the previous quarter.

"The economy has hit a bump on its post-pandemic recovery path, with a much slower manufacturing sector and mining sector dragging down growth prospects," said Suman Chowdhury, chief economist at Acuite Ratings.

Economists say inflation, now running at around 6%, is biting into demand for goods ranging from soaps to shampoos to cars, particularly in urban areas. Private consumer spending rose 6.0% from a year earlier, compared with 7.4% in the previous quarter.

The slowdown also came despite government spending rising 4.4% year-on-year in July-September, compared with a 0.2% contraction the previous quarter.

Helped by a good monsoon, agricultural output did better, rising 3.5% compared from 2% growth the previous quarter.

The government adviser said that growth prospects were still resilient and that rural demand would remain a supporting factor.

RED FLAGS

Third-quarter corporate earnings had hinted at a slowdown in the country.

More than 50% of the 44 firms in the blue-chip Nifty 50 index .NSEI that have reported earnings have either missed analysts' estimates or reported results in line with expectations, according to data compiled by LSEG.

Companies like Maruti Suzuki MRTI.NS and FMCG giants Nestle India NEST.NS and Hindustan Unilever HLL.NS reported sluggish urban consumption in the September quarter.

Growth in inflation-adjusted wage costs for listed Indian firms - a proxy for the earnings of urban Indians - has remained below 2% for all the three quarters of 2024, well below the 10-year average of 4.4%, data from Citi showed.

Slower earnings growth prompted record foreign outflows of nearly $12 billion from the Indian equity markets in October.

PRESSURE ON RBI

Bond yields and overnight index swap rates, seen as an indicator of interest rates, fell after the GDP release, signalling an increased probability of an interest rate cut in February.

A few economists, however, said the Reserve Bank of India (RBI) may even consider a rate cut in December.

"Post today's (GDP) print, there is a high probability of an RBI rate cut in December," said Gaura Sen Gupta, economist at Mumbai-based IDFC First Bank.

India's finance and trade ministers have called for lower interest rates to help industries to ramp up investments and build capacities, although Nageswaran kept his council when speaking to reporters.

"All of us see the data, the central bank is also seeing the data. They know what to do and I will be not commenting on this question," the government's chief economic adviser said.

The RBI's Monetary Policy Committee (MPC) left its benchmark repo rate INREPO=ECI unchanged at 6.50% last month due to still high inflation, while tweaking its policy stance to "neutral".

The bank, which last cut rates in May 2020, announces its next policy decision on Dec. 6.

(Reporting by Manoj Kumar and Aftab Ahmed; Editing by Susan Fenton and Hugh Lawson)

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MUMBAI, Oct 31 (Reuters) - Indian banks' loan growth moderated this September, compared with the same month a year ago, central bank data showed on Thursday, as the impact of the Reserve Bank of India's clampdown on "exuberance" in retail lending continued.

Banks' credit grew at 14.4% year-on-year last month, slower than the 15.3% increase in September 2023, excluding the impact of HDFC Bank merging with parent Housing Development Finance Corp (HDFC), the RBI said.

Including the impact of the merger, banks' loans grew 13% last month, compared with 20% a year ago.

Loan growth had moderated in August as well.

Indian banks have consistently reported double-digit loan growth for a while, helped by healthy economic growth and urban consumption. However, the RBI, worried about the risk of bad loans, imposed higher capital requirements on banks late last year.

Despite that, some segments, such as personal loans and credit card loans posted strong growth, in excess of 25%, until earlier this year when the central bank governor warned against "exuberance".

The RBI followed up on its norms with a series of actions against non-complying entities and that, along with rising defaults especially in the once fast-growing segments like personal loans and credit cards, have slowed both loan growth.

Banks' personal loan growth halved to 12.1% in September from a year ago, while growth in credit card outstanding dropped to 18% from 31.4% a year ago, the RBI data showed.

A rise in defaults by over-leveraged small borrowers is hitting India's top lenders, with bank executives and analysts expecting higher levels of stress in these personal segments over the next year.

Credit growth to the services sector decelerated to 15.2% in September from 21.6% a year ago, primarily due to lower growth in credit to non-banking financial companies.

On the flip side, loans to industry grew by 9.1% year-on-year in September, quicker than the 6% growth last year.

(Reporting by Siddhi Nayak; Editing by Savio D'Souza)

(([email protected]; +91 22 6921 7848; Reuters Messaging: X: https://twitter.com/siddhiVnayak))

Adds name in editing credits

By Siddhi Nayak, Jaspreet Kalra

MUMBAI, Oct 29 (Reuters) - A rise in defaults by over-leveraged small borrowers is hitting India's top lenders, with bank executives and analysts expecting higher levels of stress in the personal loans and micro-credit segments over the next year.

The rise in defaults marks a turn in the credit cycle for Indian lenders, whose bad loans dropped to a multi-year low of 2.8% of all assets as of end-March, according to central bank data.

In the September quarter, however, five of the eight largest private sector banks have reported an increase in bad loans.

HDFC Bank HDBK.NS, Kotak Mahindra Bank KTKM.NS, IndusInd Bank INBK.NS, RBL Bank RATB.NS and IDFC First Bank IDFB.NS saw gross bad loans as a percentage of total assets rise between 2 basis points and 19 basis points during the quarter.

Most banks have also increased provisions, or funds set aside to cover bad loans, in anticipation of a rise in defaults.

The surge in retail loan defaults comes against the backdrop of a booming economy, which is seen expanding 7.2% in the current year to March 2025 with bank lending growing at twice that pace.

Segments such as personal loans and credit cards, in particular, saw much faster growth, in excess of 25% until earlier this year, forcing the central bank to step in to curb "exuberance" in retail lending.

Slippages, or the proportion of good loans turning bad, would be elevated and stress could remain high "for the next 3-4 quarters at least", said Pranav Gundlapalle, senior research analyst at Bernstein.

Rising defaults, along with higher capital requirements imposed on banks last year, and series of actions against exuberant lending practices have slowed growth in segments such as personal loans and credit cards.

While a moderate worsening of asset quality may not be an immediate cause of concern for well-capitalised banks, the trend of rising bad loans and slowing retail loan growth could weigh on their profitability outlook, analysts said.

"We do see a general trend, particularly in unsecured (loans), where there is stress across multiple segments," said Arjun Chowdhry, group executive for segments including cards and retail loans at Axis Bank AXBK.NS, the country's third-largest private lender.

Stress is being driven by "indebtedness" caused by over-leveraging, Chowdhry said on an analyst call.

RISING DEFAULTS

The surge in bad loans is being seen mainly among borrowers who have three or more unsecured personal loans, said Rajeev Jain, managing director of Bajaj Finance, India's largest retail non-bank lender, due to easy access to funding amid extensive competition to gain market share.

For example, Harpal Singh, a 45-year old Mumbai resident whose annual income is 780,000 Indian rupees ($9,278), racked up personal loans and credit card debt of five million rupees over the last six years and is now struggling with the repayments.

"Medical emergencies have completely wiped off my savings and the general cost of living in Mumbai is so high that there is hardly anything left to pay," Singh said.

Defaults have also risen in the microfinance segment, which includes loans given to low-income borrowers.

Climate-related disruptions to crops have eroded incomes in rural areas, said a banker with a state-run bank, declining to be identified as they are not allowed to speak to the media.

The central bank, which this month barred four non-bank lenders from fresh lending due to "usurious" pricing practices, has sought data from microfinance firms on loan spreads, said five sources familiar with the requests.

The sources declined to be identified as they are not authorised to speak to the media. An e-mail sent to the central bank was not answered.

($1 = 84.0740 Indian rupees)

(Reporting by Siddhi Nayak and Jaspreet Kalra; Editing by Ira Dugal and Raju Gopalakrishnan)

** Shares of IDFC First Bank IDFB.NS fall as much as 9.5% to 59.30 rupees, hitting their lowest in about one-and-a-half years; last down 1.3%

** Lender reports a 73% slump in Sept-qtr net profit due to higher provisions

** Misses Morgan Stanley's estimates on higher provisions in microfinance portfolio and a stressed toll account; brokerage cuts TP by ~17% to 60 rupees

** Emkay Global reduces TP by 24% to 65 rupees

** Morgan Stanley says steady asset quality trend in unsecured loans is among positives

** Busiest session for the stock in seven months; more than 135 mln shares change hands

** Eleven out of 17 analysts cut TP; avg rating at "hold"; median PT 70 rupees - LSEG data

** YTD, stock is down ~28%

(Reporting by Dimpal Gulwani in Bengaluru)

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Oct 11 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• ALLOTTED NEW AMALGAMATED COMPANY SHARES TO ELIGIBLE SHAREHOLDERS OF IDFC

Source text for Eikon: ID:nBSE4dyh95

Further company coverage: IDFB.NS

(([email protected];;))

Oct 4 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• LOANS AND ADVANCES GREW 21.3% Y/Y AS OF SEPT END

• CUSTOMER DEPOSITS GREW 32.2% Y/Y AS OF SEPT END

Source text for Eikon: [ID:]

Further company coverage: IDFB.NS

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Sept 27 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• APPOINTED DATE 1 FOR AMALGAMATION OF IDFC FHCL INTO IDFC WILL BE END OF SEP 30

• APPOINTED DATE 2 FOR AMALGAMATION OF IDFC INTO IDFC FIRST BANK WILL BE OCT 1

• PURSUANT TO SCHEME, IDFC FHCL, IDFC STAND DISSOLVED WITHOUT WOUND-UP, EFFECTIVE OCT 1

• PURSUANT TO SCHEME, BANK WILL CONTINUE TO BE MANAGED WITH ONLY PUBLIC SHAREHOLDERS, EFFECTIVE OCT 1

• THERE WILL BE NO CHANGE IN DIRECTORS OR MANAGEMENT OF IDFC FIRST BANK PURSUANT TO AMALGAMATION

Source text for Eikon: ID:nBSE6lQxQf

Further company coverage: IDFB.NS

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Sept 19 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• IDFC FIRST BANK LTD - RBI GRANTED ITS APPROVAL FOR RE-APPOINTMENT OF V. VAIDYANATHAN AS MD, CEO

Source text for Eikon: [ID:]

Further company coverage: IDFB.NS

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July 24 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• IDFC FIRST BANK - GOT TAX ORDER FOR PENALTY OF 24.5 MILLION RUPEES

Source text for Eikon: ID:nBSE4S504p

Further company coverage: IDFB.NS

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July 4 (Reuters) - Life Insurance Corporation of India LIFI.NS:

• INCREASED STAKE IN IDFC FIRST BANK FROM 0.20% TO 2.68%

Source text for Eikon: ID:nNSE1K3xsL

Further company coverage: LIFI.NS

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June 14 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• RBI APPROVED RE-APPOINTMENT OF SANJEEB CHAUDHURI AS PART-TIME CHAIRMAN OF BANK

Further company coverage: IDFB.NS

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May 31 (Reuters) - Aditya Birla Capital Ltd ADTB.NS:

• ADITYA BIRLA CAPITAL LTD - UNIT INFORMED CO ABOUT PROPOSED INVESTMENT OF UPTO 5 BILLION RUPEES IN EQUITY SHARES OF IDFC FIRST BANK

Source text for Eikon: [ID:]

Further company coverage: ADTB.NS

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May 30 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• IDFC FIRST BANK LTD - APPROVED FUND RAISING WORTH 32 BILLION RUPEES

• IDFC FIRST BANK LTD - APPROVED FUND RAISING VIA ISSUE OF SHARES ON PREFERENTIAL BASIS AT 80.63 RUPEES PER SHARE

Source text for Eikon: [ID:]

Further company coverage: IDFB.NS

(([email protected];))

** Shares of IDFC First Bank IDFB.NS down 4.4% at 81.1 rupees

** The Indian lender's net profit slid 9.8% y/y to 7.24 bln rupees ($86.8 mln) as a ~31% jump in expenses outweighed a ~28% increase in interest earned

** Net provisions for bad loans up ~50% y/y in reported qtr

** Trading vols 1.6x

** Analysts' avg rating on co "buy" and median TP is 90 rupees - LSEG data

** YTD, stock has fallen ~9% after a 51% jump in 2023 - its third straight annual gain

($1 = 83.4100 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

April 25 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• TO CONSIDER FUND RAISING

Further company coverage: IDFB.NS

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April 24 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• TO CONSIDER ENABLING PROPOSAL TO BORROW FUNDS VIA ISSUANCE OF DEBT SECURITIES

Source text for Eikon: ID:nBSE6lDqDx

Further company coverage: IDFB.NS

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** Shares of IDFC FIRST Bank IDFB.NS up 2.1% at 82.35 rupees, rose as much as 3.7%

** More than 1.4 mln shares changed hands in two blocks priced between 81.80-83 rupees/share - LSEG

** Stock top percentage gainer in Nifty bank index .NSEBANK, which is up 0.2%

** Stock on track for third consecutive session of gains, if trend holds

** Trading vol 1.8x 30-day daily avg

** Avg rating of 16 analysts equivalent of "buy", median PT is 91.50 rupees - LSEG

** IDFB fell 15.2% in March quarter vs 2.4% fall in Nifty bank index

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

April 5 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• RBI IMPOSES A MONETARY PENALTY OF 10 MILLION RUPEES

• PENALTY PERTAINING TO AN INFRASTRUCTURE LOAN GRANTED TO A PUBLIC SECTOR UNDERTAKING IN 2016 AND 2017

• SAID LOAN HAD ALREADY BEEN REPAID IN FULL WITH NO LOSS TO BANK AND CLOSED IN BOOKS

• DOES NOT UNDERTAKE INFRASTRUCTURE PROJECT FINANCING SINCE 2019 AS A PART OF ITS LENDING STRATEGY

Source text for Eikon: ID:nBSE6DzLPB

Further company coverage: IDFB.NS

(([email protected];))

** Shares of India's IDFC First Bank IDFB.NS fall as much as 3.5%, hitting their lowest level since June 2023

** Cloverdell Investment likely to sell its entire 2.25% stake in IDFB, local media reported

** Floor price for sale is set at 75 rupees per share implying a 4% discount on co's Wednesday close, report said

** More than 41 mln shares traded in block deals in price range of 75.15 rupees and 76.3 rupees per share on Thursday- LSEG data

** Trading Vols of IDFB at ~95 mln shares, most active session of 2024

** IDFB down ~15% YTD vs ~2.5% drop in NIFTY Bank Index.NSEBANK

(Reporitng by Nishit Navin)

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Feb 6 (Reuters) - IDFC First Bank Ltd IDFB.NS:

• CCAVENUE TO OFFER EMI SOLUTIONS TO IDFC FIRST BANK

• ANNOUNCES STRATEGIC ALLIANCE BETWEEN ITS PAYMENT BRAND, CCAVENUE, AND IDFC FIRST BANK

Source text for Eikon: ID:nBSE9c96rZ

Further company coverage: IDFB.NS

(([email protected];))

** Shares of IDFC FIRST Bank IDFB.NS rise as much as 4.6% to 83.75 rupees, mark sharpest intraday pct gain since Sept. 4

** Over 3.8 mln shares traded in five separate block deals priced in the range of 81.05-83.15 rupees - LSEG data

** Trading vol 1.5x the 30-day daily avg

** Avg rating of 15 analysts equivalent of "hold", median PT is 87.50 rupees - LSEG data

** IDFB rose 51.2% in 2023, its best yearly performance since listing in 2015

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))