INSUBCONTINENT EXCLUSIVE:
US$116.37 billion is now joined by US$63.8 billion from HDFC Ltd, as the Bombay Stock Exchange (BSE) reported.The merger becomes effective
(Photo Internet reproduction)HDFC Bank CEO Sashi Jagdishan expressed confidence in the merger, calling it a significant milestone that would
enable them to create a comprehensive financial services ecosystem.With a combined market capitalization of over US$170 billion, the newly
Bank.The announcement of the merger in April 2022 initially raised doubts, leading to an 18% decline in share prices for both
official completion.The merger aligns with regulatory changes by the Reserve Bank of India (RBI), which has facilitated mergers by lowering
barriers for banks and non-banking financial institutions.HDFC Bank currently operates over 7,800 branches and nearly 20,000 ATMs across
3,800 locations, while HDFC Ltd has 651 branches.
