HDFC Bank director says Indian mega merger won't face 'insurmountable challenges'
Publishing timestamp: 2023-07-04 05:25:55
Summary
The merger between India's HDFC Bank and HDFC will provide more opportunities for cross-selling. The merger will increase the entity's customer base and improve the bank's mortgage portfolio. HDFC Bank will now be able to offer a range of financial services to home loan customers and tap into a customer base that has not taken housing loans. The merger is significant in terms of total assets, total deposits, and market capitalization. HDFC Bank will have access to low-cost deposits and a wider distribution platform. The merger is expected to be EPS accretive for HDFC Bank and synergies between HDFC Bank and other group companies will deepen over time.
Sentiment: POSITIVE
Tickers: HDFCBANK-IN, HDFC-IN, RELIANCE-IN,
Keywords: hdfc bank ltd, business news, banks, asia economy, india, housing development finance corporation ltd,