HDFC Ltd-HDFC Bank Merger
HDFC Ltd-HDFC Bank merger is the merger of HDFC Ltd (Housing Finance Arm of HDFC) and HDFC Bank and with market capitalisation of $154 billion, the later became seventh most valuable bank and fourth largest lender in the world.
History and Objective[edit]
HDFC Ltd-HDFC Bank merger[1] on 1 July 2023[2] had made HDFC Bank rise among the World's top 100 lenders in terms of assets.[3] The merger made the bank 7th most valuable bank in the world as its market capitalisation rose to $154 billion.[4]
Financial Market Effects[edit]
HDFC Ltd-HDFC Bank merger has created following effects in Financial Markets [5][6]
- Increase in Customer base to 120 million, exceeding German population in size.
- Increase in Bank Headcount to 1,77,000 employees.
- Second largest Bank in India after State Bank of India.[7]
- Increase in branches to 8300.
- Growth in Bank deposits
- Fourth largest lender in the world.
- Largest lender in Private sector in India
- Largest weight Nifty50 and Sensex.
Equity Issue[edit]
HDFC Ltd-HDFC Bank merger makes HDFC Bank issue 42 shares in exchange for 25 shares held by them in former.[8] This will raise the Equity Capital of HDFC Bank.[9]
See also[edit]
References[edit]
- ^ "HDFC Bank completes merger with HDFC after final board approval". The Economic Times. 1 July 2023. Retrieved 27 December 2023.
- ^ Mishra, Lalatendu (1 July 2023). "HDFC Bank completes merger formalities, rebrands HDFC Ltd. offices, branches". The Hindu. Retrieved 27 December 2023.
- ^ "HDFC Ltd-HDFC Bank merger: Behind Sashi Jagdishan's big plans for HDFC Bank". Business Today. 20 July 2023. Retrieved 27 December 2023.
- ^ Mascarenhas, Rajesh (18 July 2023). "HDFC Bank becomes world's 7th largest lender post merger". The Economic Times. Retrieved 27 December 2023.
- ^ "Bank giant bigger than Morgan Stanley arises from HDFC Bank, HDFC Ltd merger". The Times of India. 30 June 2023. Retrieved 27 December 2023.
- ^ "HDFC Ltd and HDFC Bank complete their merger today: Take a look at what's happened so far". Zee Business. 1 July 2023. Retrieved 27 December 2023.
- ^ "Spotlight on HDFC Ltd and HDFC Bank Merger !". CNBCTV18. 3 July 2023. Retrieved 27 December 2023.
- ^ "HDFC-HDFC Bank merger likely to be effective July 1, HDFC to be delisted on July 13: Deepak Parekh". Business Today. 27 June 2023. Retrieved 27 December 2023.
- ^ Tan, Charmaine Jacob,Joanna (3 July 2023). "India's HDFC Bank completes $40 billion takeover of the country's largest mortgage lender. Here's what it means". CNBC. Retrieved 27 December 2023.
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