IDFC FIRST Bank Secures Its First International Rating With Investment Grade From S&P Global Ratings

 

MUMBAI, India, Aug 17 (Bernama-BUSINESS WIRE) -- IDFC FIRST Bank is pleased to announce that S&P Global Ratings has assigned the Bank its inaugural international investment-grade issuer credit ratings of ‘BBB-’ long-term and ‘A-3’ short-term, with a Stable Outlook.

Commenting on the rating, Mr. Sudhanshu Jain - Chief Financial Officer & Head Corporate Centre, said, "We are delighted to receive our first international investment grade Rating from S&P with a Stable Outlook.

We view this rating as an important milestone in our progress. The investment-grade rating is expected to enhance the Bank's standing with global investors and financial institutions, support access to international funding markets, facilitate Standby Letter of Credit (SBLC) lines, strengthen foreign currency funding at the Bank's GIFT City International Banking Unit, support mobilisation of FCNR(B) deposits, and deepen correspondent banking and cross-border trade finance relationships.”

Key excerpts from S&P Global Ratings' rating rationale:

• Expects IDFC FIRST Bank to maintain strong capitalization over the next 18-24 months, with its Risk-Adjusted Capital (RAC) ratio projected at 10.0%-10.5%, supported by regular capital raising, improving profitability and a low dividend payout policy.
• The agency also noted the Bank's demonstrated ability to access equity markets and raise capital to support growth.
• S&P Global Ratings expects further improvement in the Bank's profitability, supported by healthy revenue growth, declining credit costs and improving operating leverage. The agency expects the Bank's cost-to-income ratio to improve to 65%-70% from 75% in FY2026 over the next two years.
• S&P expects the Bank's asset quality to remain stable, supported by technology-driven underwriting, portfolio diversification and a growing focus on lower-risk lending segments. The Stable Outlook reflects the agency's expectation that the Bank will maintain strong capitalization, manageable asset quality risks and a granular retail funding profile over the next two years.
• S&P noted the Bank's experienced management team and strong digital capabilities, which have supported the expansion of a scalable retail banking franchise with nationwide reach.
• S&P further highlighted the Bank's strong funding profile, with a CASA ratio of 50.8% as of June 30, 2026.

The investment-grade rating is expected to strengthen the Bank's access to international markets and funding sources, support trade and SBLC lines, foreign currency funding, FCNR(B) deposit mobilisation, correspondent banking relationships and cross-border trade finance activities.

About the Bank

1. Vision: To build a world-class Bank in India, founded with principles of Ethical, Digital, and Social Good Banking.
2. Scale: IDFC FIRST Bank is one of India’s fast-growing private banks, building its UI, UX, and tech stack like a fintech. As of June 30, 2026, the Bank serves 39 million customers, with a customer business at Rs. 6,04,776 crore ($65.9b) comprising customer deposits of Rs. 2,99,405 crore ($32.6b) and loans & advances of Rs. 3,05,370 crore ($33.3b). Customer deposits grew 16.6% YOY and loans 20.6% YOY. We reach over 60,000 cities, towns, and villages, operating through 1,155 branches.
3. Scope: We are a universal Bank offering a complete range of services, including Retail, MSME, Rural, Startups, Corporate Banking, Cash Management, Credit Cards, Wealth Management, Deposits, Government Banking, Working Capital, Trade Finance, and Treasury solutions.
4. Ethical Banking: We are committed to doing right even when customers are not watching. We have simplified descriptions, calculations, and legal jargon to avoid confusing customers.
5. Digital Banking: The Bank's modern technology stack delivers high-quality services across all channels like mobile, branch, internet banking, call centers and relationship managers. Built on cloud-native, API-led, microservices architecture, supported with data, analytics, AI, and fine aesthetics, we strive to deliver fintech-grade experiences on banking platform.
6. Social Good: We work for society. We have impacted over 40 million lives including 3.6 million women entrepreneurs. We have financed over 7.5 million lifestyle improvement loans (for laptops, washing machines, refrigerators etc. that enhance the quality of life of the middle class), 2.5 lakh electric 2W and 3W vehicles, 2.7 lakh water, sanitation, and hygiene loans, 2 million livelihood (cattle) loans, and 300,000+ SMEs. On deposits, we provide access to premium investment research, which is usually reserved for the wealthy, even to those holding balances as low as Rs. 5,000. Our ESG scores are high and improving.
7. Customer Friendly Banking: We make banking easy by having a customer first approach. We have waived fees on 36 essential savings account services which are commonly charged in the market, the first and only bank in India to do so. We create “pull” products that customers actively seek out.
8. Governance: We adhere to regulatory guidelines in letter and spirit and actively work with regulators to make things better. We take pride in maintaining highest levels of corporate governance.
9. Shareholders: We are building a well-diversified universal banking portfolio designed to deliver consistent ROE of 16%+.
10. Employees: IDFC FIRST Bank is designed to be a happy place to work, with cutting-edge roles, meaningful growth opportunities, and a culture of meritocracy. Compensation is healthy, efforts are recognized, and employees experience the pride and excitement of creating a world-class Bank in India.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20260814899061/en/

Contact

Media Contact: Media.queries@idfcfirst.bank.in

Source : IDFC FIRST Bank

SBC MEDICAL REPORTS 13 PCT RISE IN Q2 REVENUE, NET INCOME JUMPS 335 PCT

KUALA LUMPUR, Aug 14 (Bernama) -- SBC Medical Group Holdings Inc (SBC Medical) reported a 13 per cent year-on-year (yoy) increase in consolidated revenue to US$49 million for the second quarter (Q2) of fiscal 2026 ended June 30. (US$1 = RM4.08)

Net income attributable to SBC Medical surged 335 per cent yoy to US$11 million, while adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 32 per cent to US$20 million.

Basic earnings per share jumped 400 per cent year-on-year to US$0.10, while net income margin increased 16 percentage points to 22 per cent and adjusted EBITDA margin climbed six percentage points to 41 per cent.

In a statement, SBC Medical Chairman and Chief Executive Officer, Yoshiyuki Aikawa said the company was increasingly confident that its growth reacceleration reflected strengthening underlying fundamentals, with the convergence of healthcare and artificial intelligence (AI) becoming a source of competitive advantage.

He said the company is leveraging more than 26 years of accumulated management data to develop AI-enabled services, including AI-powered call centres, AI-driven marketing and AI-assisted site selection for new clinics.

The company said the quarter marked a reacceleration in growth, supported by the expansion of its points business following a change in operating policy and higher service fees driven by enhanced AI-enabled support capabilities.

The medical corporations supported by SBC Medical also continued to expand, with the number of locations increasing by 34 yoy to 287 as of end-June. Last-12-month patient visits reached 6.9 million, up 10 per cent yoy, while average spending per visit rose nine per cent to US$287.

The company said fee revisions for call centre services provided to five affiliated medical corporations, together with separate fee revisions reflecting expanded support for Rize Clinic and Gorilla Clinic, are expected to increase annual service fees by approximately US$15 million if their impact is realised for a full year.

Looking ahead, SBC Medical said it will deepen its multi-brand strategy in aesthetic dermatology in Japan, expand its non-aesthetic business and accelerate international growth through its collaboration with OrangeTwist in the United States and expansion in Southeast Asia, anchored in Thailand. The company also plans to enter the longevity market.

-- BERNAMA

IHERB MARKS 30TH ANNIVERSARY WITH GLOBAL SALE, PLATFORM EXPANSION

KUALA LUMPUR, Aug 13 (Bernama) -- iHerb, a global eCommerce retailer of vitamins, minerals, supplements and health and wellness products, is celebrating its 30th anniversary with its biggest sales event of the year and the addition of 10 newly supported languages to its shopping platform.

In a statement, the company said the milestone comes as it serves well over 16 million customers across approximately 180 countries, reflecting growing consumer interest in proactive health and wellness.

The anniversary promotions will begin on Aug 19 ahead of the company's September anniversary, offering discounts of up to 30 per cent across more than 600 brands, alongside daily flash deals and other customer rewards.

iHerb Chief Executive Officer, Emun Zabihi said the company's 30-year milestone reflects the growth of its customers and team members, adding that it remains focused on improving the customer experience and investing in trust, access and convenience.

The platform's newly supported languages include European Spanish, European Portuguese, Georgian, Bosnian, Azerbaijani, Kazakh, Armenian, Farsi, Hindi and Cantonese, bringing its total language offerings to 46.

iHerb said each language experience is localised to enable customers across the Americas, Europe, the Middle East and Asia to browse products and complete purchases in their preferred language.

Founded in 1996, iHerb has grown from selling its first supplement online from an apartment in Pasadena, California, into a global direct-to-consumer wellness platform, supported by a logistics network of climate-controlled and GMP and/or ISO-compliant facilities.

-- BERNAMA

Fortude's AI-Driven Delivery Model Shortens ERP Implementation Timelines

KUALA LUMPUR, Aug 7 (Bernama) -- Fortude, a global digital solutions company, has introduced its artificial intelligence (AI)-driven delivery model for Infor CloudSuite implementations.

The model combines industry accelerators, a suite of AI agents and human-led project governance to reduce repetitive effort across the implementation lifecycle and shorten the time required for customers to build a working enterprise resource planning (ERP) foundation.

“ERP is the digital foundation every business builds on, and it needs to be delivered and upgraded faster and more affordably so that companies can focus on data, automation, and AI initiatives that support their growth.

“By bringing agentic AI into the heart of how we deliver Infor solutions, we believe we are disrupting the paradigm on implementation costs. This is a genuine breakthrough for the ecosystem,” said Fortude President and Chief Executive Officer, Arjuna Sirinanda.

Fortude in a statement said its AI agents collect and organise project knowledge, generate implementation artefacts, and automate repeatable steps.

The company said the model also reduces the consulting footprint, enabling a faster and more affordable ERP foundation, while AI is also being applied to transform core business processes and create additional value for customers.

At the core of the offering is a three-layered model. The first layer comprises pre-built assets that encode Fortude's delivery patterns, configuration templates and best-practice guidance by industry vertical.

The second is an AI-driven delivery layer, where multiple agents organise project knowledge, draft implementation artefacts and automate repeatable build steps, while the third layer provides governance assistance by supporting progress tracking, status reporting and risk visibility.

According to Fortude, the delivery model is currently available in the food and beverage, manufacturing, fashion and distribution sectors, with additional industry accelerators under development.

-- BERNAMA

How India’s automotive rise could reshape competition in Malaysia

KUALA LUMPUR, Aug 6 (Bernama) -- As Malaysia’s automotive market becomes increasingly diverse, India’s growing strength in engineering, manufacturing and mobility could introduce another source of global competition, giving consumers more reasons to expect better. 

For much of Malaysia’s modern automotive history, the competitive map was relatively easy to read. National marques occupied a unique position, Japanese manufacturers built deep consumer trust, European brands dominated much of the premium segment, while Korean automakers steadily gained ground through design, technology and value.

More recently, Chinese manufacturers have transformed that landscape, bringing greater competition, accelerating electric vehicle adoption and raising expectations around technology, features and pricing.

Long recognised as one of the world's largest automotive markets, India is increasingly evolving beyond its reputation as a cost-efficient manufacturing hub. Today, its competitive advantage lies not only in production scale, but also in engineering talent, software expertise, advanced components and a sophisticated supplier ecosystem, positioning the country as a growing source of globally competitive vehicles and mobility solutions.

This matters for Malaysia. A broader pool of credible automotive players has the potential to sharpen competition, raise industry standards and ultimately deliver greater value for consumers.

In the 2024–25 financial year, India exported more than 5.3 million vehicles while passenger vehicle exports reached a record of around 770,000 units. McKinsey also projects strong growth for India's automotive components sector, driven by increasing global demand, skilled talent and shifting international supply chains.

Modern automotive competitiveness is no longer measured solely by the number of vehicles produced. Increasingly, it depends on the quality of engineering, software integration, electronics, safety technologies and the ability to meet diverse consumer expectations across international markets. As Indian manufacturers invest in these capabilities, they are seeking to compete not only on affordability, but also on technology, quality and overall ownership experience.

Companies such as Tata Motors illustrate this broader evolution.

Part of the Tata Group, one of India's largest and most established global enterprises, Tata Motors has grown into an international automotive company with operations spanning passenger vehicles, commercial vehicles and electric mobility. Its presence across multiple international markets reflects decades of engineering development and manufacturing experience rather than a first attempt at overseas expansion.

While speculation occasionally surrounds the company's potential interest in new markets, any future success would ultimately depend on the same fundamentals expected of every automotive brand — products that meet local needs, dependable after-sales support and the ability to build lasting consumer confidence. Its significance lies less in representing a single company than in demonstrating how India's automotive sector has evolved into one capable of producing globally competitive manufacturers.

Malaysia's increasingly competitive automotive landscape has made these considerations more important than ever. As India's automotive industry continues to mature, its manufacturers will increasingly be judged against these same expectations. Engineering capability may attract attention, but lasting success will depend on product quality, customer experience and sustained investment in local markets.

Ultimately, greater competition is rarely about having more brands alone. It is about creating better products, higher standards and more meaningful choices for consumers.

SOURCE: GO COMMUNICATIONS

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Celine Lau
Tel: 016-292 2111
Email: celinelau@gocomm.com.my 

--BERNAMA 

Bitget Signs Cooperation Agreement with Gelephu Mindfulness City Authority to Explore Licensed Digital Asset Presence in Bhutan

VICTORIA, Seychelles and GELEPHU, Bhutan, Aug 7 (Bernama-GLOBE NEWSWIRE) -- Bitget, the world’s leading Universal Exchange, has signed a cooperation agreement with the Gelephu Mindfulness City Authority, marking a step toward establishing a local presence in Gelephu Mindfulness City, Bhutan.

The agreement sets out a framework for Bitget to establish a legal presence in GMC, prepare an application for the relevant Financial Services Licence under the regulatory framework administered by the Gelephu Financial Services Office, and work with GMCA on operational, regulatory and ecosystem-building workstreams. The cooperation is intended to support the growth of the digital asset ecosystem in GMC, subject to the required approvals.

“Bhutan is approaching digital assets with a rare mix of long-term thinking, clean-energy advantage and regulatory clarity,” said Gracy Chen, CEO at Bitget. “GMC is the emerging hotbed for digital finance, and Bitget looks forward to contributing exchange experience, infrastructure knowledge and local talent development as this ecosystem grows.”

Bhutan has become one of the most closely watched sovereign stories in digital assets. The country has used its hydropower resources to support green cryptocurrency mining as part of a broader strategy to stimulate economic growth, create new employment pathways and retain young talent.

GMC adds a new dimension to this story. As a Special Administrative Region in southern Bhutan, GMC is being developed as a next-generation international financial and innovation hub. Its financial services and virtual asset regime is governed by the Financial Services Act 2025 and subsidiary rulebooks, with firms carrying on regulated financial services or virtual asset activities in or from GMC required to obtain a Financial Services Licence from the GFSO.

“Our objective is to build a world-class digital asset ecosystem founded on robust regulation, institutional standards and long-term economic value. Partners such as Bitget play an important role in bringing global expertise while contributing to the development of local capabilities and the broader financial ecosystem,” said Jigdrel Singay, Board Director of Gelephu Mindfulness City.

Bhutan’s broader openness to responsible digital innovation has already drawn international attention. In Dec 2025, through the Bitcoin Development Pledge, Bhutan has signalled its long-term commitment to responsibly integrating digital assets into its economic development strategy, while fostering an ecosystem built on sound regulation, institutional participation and long-term value creation.

Through this cooperation, Bitget intends to contribute global exchange experience, market infrastructure knowledge and digital asset industry expertise to GMC’s emerging ecosystem. The planned local setup includes local hiring and office presence over time, helping support GMC’s wider focus on substance, talent development, knowledge transfer and long-term capability building.

About Bitget

Bitget is the world's largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 500+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships such as MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry's lowest fees and highest liquidity across 150 regions worldwide.

For more information, visit: Website | X | Telegram | LinkedIn | Discord

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

About Gelephu Mindfulness City

The Gelephu Mindfulness City Special Administrative Region is a visionary initiative creating a world-class economic hub in southern Bhutan, centered on mindfulness, sustainability, and innovation. The SAR integrates traditional Bhutanese values with globally recognized legal frameworks, cutting-edge design and technology, while harnessing the Kingdom’s abundant renewable energy resources to serve as a global exemplar of holistic development.

For more information, visit www.gmc.bt or contact info@gmc.bt

Investment inquiries: invest@gmc.bt

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9844bc4e-17d8-4724-af40-c4fa909e340a 

SOURCE: Bitget Limited

DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.

--BERNAMA

EMERGINE INTRODUCES AI SEARCH VISIBILITY PLATFORM IN SINGAPORE

 

KUALA LUMPUR, Aug 7 (Bernama) -- Emergine has made its global debut at the What'sNEXT 2026 conference in Singapore, marking the international launch of its artificial intelligence (AI)-powered search visibility platform.

The platform evolved from KAWO GEO and was developed by the team behind KAWO, a social media intelligence platform serving more than 500 brands.

In a statement, Emergine said the platform is designed to help brands navigate, monitor and manage the rapidly evolving generative search landscape across leading global and local AI ecosystems.

During the event, the company also previewed its "2026 Overview of GEO Citations for Mainstream AI Models" research report, which was officially released on Aug 5.

The report, jointly produced by Emergine and GrowthBox, analyses thousands of real AI interactions across multiple industries and models to examine how AI engines discover, evaluate and reference brand content.

Emergine aims to help brands navigate the evolving AI-driven search landscape by turning complex algorithmic insights into actionable intelligence.

As more users rely on AI platforms to discover information and make decisions, the platform enables businesses to better understand how their content is identified, evaluated and referenced across global AI ecosystems.

-- BERNAMA