Discover and read the best of Twitter Threads about #idfcfirstbank

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#IDFCFIRSTBank FIRST concall was right now. My key takeaways:

1. Credit costs of 2.5% in FY22, 2% in steady state.
In b/w lines: Bank has incremental NIMs of >9% which will support 2% credit costs. 1800cr provisions taken in Q1 represent a very conservative approach
A 850cr mumbai toll road account slipped into NPA due to covid lockdowns. There were partial payments. Expect it to come out of NPA post covid wave. VI exposure credit costs not included in 2.5% guidance.
2. Runway for growth is long
In b/w lines: Can grow loan book at 25% for a long time. Expecting 18-20% ROE from retail lending alone in steady state. CASA will also continue to grow enough to support retail lending needs. Enough cash right now.
Read 9 tweets
#idfcfirstbank is my largest and oldest investment. Thought of creating a thread to explain the business. If you like the thread, please spread the knowledge, retweet. Buckle up, because this is going to be a long one. :D
Quick summary of what a bank does. This enables me to establish a framework under which the analysis of the bank will become very structured.
Money is its raw material.
Bank takes customer deposits, raises money via borrowings (can issue its own bonds, takes loans from other banks etc). This is the input for the bank. Since the bank is liable to pay interest on it, it is also known as liabilities.
Read 66 tweets
1 new chart everyday, it could be from any space ~ equities / commodities / crypto / forex / bonds , etc

Will try to do it daily ๐Ÿ™๐Ÿ’ช

Here's the first one ๐Ÿ‘‡

SBI vs BankNifty

Ratio chart has given monthly breakout implying SBI could outperform BN in coming months.

#PB365 Image
(2) #DLF monthly chart

#PB365 Image
(3) #VodafoneIdea weekly chart

#PB365 Image
Read 160 tweets
#IDFCFIRSTBank a detailed thread! ๐Ÿงต

@VijayKedia1 @sanjiv_bhasin Image
Merged with Capital First

@Atulsingh_asan Image
Breakneck growth!

@soicfinance ImageImageImage
Read 5 tweets
IDFC FIRST BANK - 'Always you first.'
My stock pick for the next decade.
Key Reasons:
->Quality & Ethical Management
->Good Sector
->Sustainable Moat(difficult to get new banking license in India)
->Retail Focused Bank
->Available at cheap valuations
#IDFCFirstBank Image
Headed by Visionary and Ethical Leader : Mr. V Vaidyanathan ImageImage
Company's Vision : 'We want to create the world's best bank, right here in India, for aspiring Consumers and for Enterpreneurs.' Image
Read 9 tweets
#Thread
Been reading a bunch of Annual Reports last few days. Creating this thread to capture and share interesting tidbits from the ones I am reading this season. Will be updated on an ongoing basis next few weeks.

1/n
2. Few bluechips have reported their #EconomicValueAdded (EVA), a good measure of shareholder value creation. HUL AR does a great job of explaining details. EVA as % avg capital employed over a period of time can be a good leading indicator. Pidilite also shares EVA details
3. Chairman's letter+MD&A section of top 2/3 key players provide great overview of economy and sector dynamics.
Few suggested section reads are HUL, Kotak, PEL, Sterlite Tech, Everest Ind+Visaka, Godrej Prop, OCCL, Hikal, Aavas, RBL, L&T Infotech, Zydus Wellness.

Suggest more!
Read 7 tweets

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