The CEO and managing director of IDFC First Bank has turned around the lender on nearly every front. Will he win over investors?
If there were any doubts about V. Vaidyanathan’s banking credentials when he took charge as the CEO and managing director of IDFC First Bank in December 2018, after the merger of IDFC Bank with Capital First, he seems to have dispelled them. Or, at least most of them.
When he took the reins of the bank, there were several legacy problems. For instance, even though IDFC Bank came to the table with a loan book of Rs 75,332 crore, about 2.3 times that of Capital First, 72% of it was on the wholesale side, with exposure to stressed entities like …
Furquan covers banking and financial services at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
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furquan@mailtmc.com
Delhi