The re-appointment will be effective from 19 December 2024 and it will extend for a period of three years, concluding on 18 December 2027.
IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, Internet and mobile. The bank provides customized financial solutions to corporate, individuals, small and micro enterprises (SMEs), entrepreneurs, financial institutions and the government.
The private bank's standalone net profit declined 11% to Rs 680.65 crore in Q1 FY25 as compared to Rs 765.16 crore recorded in Q1 FY24. Total income jumped 25.7% to Rs 10,407.75 crore in Q1 FY24 as against to Rs 8,281.54 crore posted in the corresponding quarter previous year.
The scrip shed 0.04% to Rs 73.78 on the BSE.