IDFC FIRST Bank has secured approval from the Reserve Bank of India (RBI) for the reappointment of V. Vaidyanathan as Managing Director and Chief Executive Officer. His new term will commence on 19th December 2024 and continue until 18th December 2027.

The reappointment reflects the bank’s confidence in Vaidyanathan’s leadership, which has been pivotal to its transformation and growth in recent years.

Vaidyanathan, a veteran in the banking industry, has been instrumental in reshaping IDFC FIRST Bank since its inception in 2018, following the merger of IDFC Bank and Capital First. Under his leadership, the bank has focused on expanding its retail loan book, reducing bad loans, and fostering a strong customer-centric approach.

Known for his visionary leadership, Vaidyanathan has spearheaded efforts to diversify the bank’s portfolio, enhance digital banking services, and strengthen its financial performance.

IDFC FIRST Bank, headquartered in Mumbai, has evolved into a full-service bank, catering to retail, corporate, and SME clients.

IDFC First Bank’s overall deposit stood at ₹2.09 trillion as on June end, up 36 per cent year-on-year (Y-o-Y), while total advances rose 22 per cent Y-o-Y to ₹2.09 trillion during the same period.

With its roots in infrastructure financing, the bank now boasts a strong retail banking segment, which has become its primary growth driver under Vaidyanathan’s guidance.

The reappointment of Vaidyanathan signals continued stability and a clear direction for the bank, as it aims to further strengthen its market position and deliver sustained growth.