# IDFC First Bank built Rs 2.38 lakh crore deposit base with 1,155 branches 2026-08-09T22:43:32+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet IDFC First Bank grew its retail deposit base 23-fold from Rs 10,400 crore in December 2018 to Rs 2.38 lakh crore by June 2026 with only 1,155 branches, says CEO V Vaidyanathan. He told shareholders that conventional benchmarks would have required about 2,500 branches. The bank's cloud-first technology platform helped it reach 39 million customers, while total deposits crossed Rs 3.12 lakh crore in the first quarter of FY27, up 18 per cent year-on-year. The bank also reported a Rs 646 crore fraud at its Chandigarh branch discovered in February 2026. An independent KPMG forensic investigation confirmed collusion between some bank employees, customer staff and third parties. Vaidyanathan said it was an isolated incident involving a single branch, and the bank has since introduced centralised oversight and additional technology-led controls. ## Coverage - bfsi.economictimes.indiatimes.com Tags: fraud, IDFC FIRST Bank, KPMG, retail deposits, ROE, technology Canonical: https://indianopinion.org/idfc-first-bank-1155-branches-match-2500-for-deposits/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/idfc-first-bank-1155-branches-match-2500-for-deposits/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.