IDFC First Bank Limited

Hope you permit me to disagree. After the merger was announced, Capital First continued to post stunning results till the last day. I.e. q4 18, q1 19, and q2 19, exactly in line with trends of five years of Capital First ( always stunning results after first 4 years of capital first 2010 to 2014 when they used to post bad results (loss after loss after loss)

Meanwhile idfcb posted horror results in each of these 3 quarters, in fact in sep 30 2018 results they sold a lot of bad loans to ARC.

So it is clear to me IDFCB dragged the stock down.

Those days Dewan went down ( sep 18) and isfc collapsed with it (simultaneously).

I was invested those days and he got many brickbats from all exactly the way he is getting now. I was a junior kid those days even i ranted. After 2015 suddenly he became God when results were good, you shouldnhave seen seasoned investors just adoring him.

Imho he truly inherited the bank at that price of 37.6, good results of capf could not lift a idfcfb stock, because idfc was the acquiring entity and was the larger entity with some 3x market cap of cfl

Btw their infra exposure alone was morenthan the networth! Wonder what all idfcb shareholders were smoking holding the stock, with 10 pc retail deposits 23% corporate deposits 33% certificate of deposits and ~ 34% odd in bonds.

I was an investor in capf so i have the full history studied them went to their branches etc.

Overall i believe (because i am supporting his positon when the popular mood is against him dont beat me up pls). I have been enuf against him in 2019 2020 2021 22 etc. See old posts…

Now after seeing the extent of his work am atleast an admirer of his work. I went to the cynergy branch and friended the staff and the admiration of the staff about his motivation, direction, systems focus, etc was something i was impressed with. (Apparently he cones there v often)

Am a user of their products and happy customer and also biased in that sense.

Have never seen anyone bashed up so much after fixing the bank. I am only hoping he can stand and fight his way out and not chicken. And repeat capf get bashed first and then deliver and be respected.

Btw i think he made a mistake marrying this bank. He could have gone and got a license and make cap first bank. Lige would have been better rsther than solving MEP and cox and kings and dewan and r capital and vodafone and 100 such names.