A new player has emerged in the Indian banking sector. IDFC FIRST Bank was born from the merger of two financial institutions with strong legacies. The 2018 merger paired IDFC Bank — which brought a banking license and infrastructure financing experience to the deal — with Capital First, which had proven to be a retail growth machine. The combined network comprises 523 branches and 509 ATMs across the country. The newly formed entity took immediate steps to address structural issues and reported tremendous progress with the diversification of loans and deposits as well as increases in net interest margin and core pre-provision operating profit. IDFC FIRST Bank made proactive provisions for legacy infrastructure and troubled accounts. It turned up the focus on lending to MSMEs, entrepreneurs, rural customers and consumers. All these efforts have contributed to customer confidence and strong inflows: retail deposits have grown by 157 percent (FY 20) and show no signs of stopping — even in the face of the pandemic. IDFC FIRST Bank registered an uptick during the “Covid quarter” (Q4-FY20), and the same trend appears to be continuing into the 20-21 fiscal year. IDFC FIRST Bank has implemented strong corporate governance policies aligned with international best practice and focused on transparent client engagement. The CFI.co judging panel recognises the high-growth performance and prospects of IDFC FIRST Bank with the 2020 award for Most Transformed New Bank (India).