ICICI Direct: IDFC’s Upside Potential Led By Value Unlocking

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.In 2014, IDFC Ltd. received a license to set up a universal bank – IDFC Bank. To strengthen retail franchise, IDFC Bank Ltd., Capital First Ltd. engaged in a merger to form IDFC First Bank Ltd. in December 2018.Currently, IDFC holds 40% stake in IDFC First Bank. Apart from banking, IDFC owns a mutual fund (100% owned). Its asset under management stands at Rs 1,03,893 crore of which equity AUM – Rs 29,609 crore as of March 2020).IDFC First Bank has been able to continue its restructuring plan increasing the granularity of balance sheet with retail now forming approximately 55% of advances.Continued focused build-up of current account and savings account has increased its proportion to upwards of 30%. Prudent provisioning and recent capital raising of Rs 2000 crore provides cushion from any hiccups in asset quality.Healthy growth in the asset management company business with strong inflow in debt schemes aided by consistent performance bodes well for the future earnings..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Direct: IDFC’s Upside Potential Led By Value Unlocking

ICICI Direct: IDFC’s Upside Potential Led By Value Unlocking

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