Investor Presentaiton
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Section 2: Key Excerpts about Vision, Mission and Strategy from MD and CEO's letter to
Shareholders in Annual Report 2019
On Our founding philosophy:
"The founding years, which I call the next five years, are
particularly important, as the DNA we establish now will be
hard to correct later. We will make every effort to sell the
right products to customers, avoid mis-selling, avoid selling
such third-party products that make wonderful fees for us
but at the cost of expensive products for the customer. If we
make a mistake, we will apologise and correct it. After all,
we do not want to take this Bank to great heights in profits
and profitability while having earned any penny that truly
does not belong to us."
On Strategy for the new Bank:
We plan to implant the erstwhile Capital First's tried
and tested model of financing small entrepreneurs
and consumers [a retail franchise, growing at 29%
per annum and 5-year profit CAGR of 55%, (FY18
PAT grew by 37%)], on a bank platform, (IDFC Bank's
strong branch network of 242 and growing, excellent
technology stack, quality internet and mobile banking,
and strong rural presence). "
On the Vision of the New Bank:
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Our new bank has a new vision. We want to create the world's best bank, right
here in India, for aspiring Consumers and for Entrepreneurs
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On Our Mission:
"I We want to touch the lives of millions of Indians in
a positive way by providing high quality banking
services to them, with particular focus on aspiring
consumers and entrepreneurs of our new India, using
contemporary technologies
On the Future Outlook:
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"I am quite confident that once we see through
this investment phase (expansion of branch
network, retailising assets, retailising liabilities),
barring unforeseen circumstances, the Bank
is set for a continuous and one-way growth in
profitability from thereon. "
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On Contribution to the Country:
We aspire to create millions of employment opportunities, and finance the growth of
business and consumption. This will lead to greater domestic production, greater
consumption, and we want to contribute in further the virtuous cycle of growth for our
great nation
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IDFC FIRST
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