BUSINESS

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BUSINESS

HDFC to become world's 4th largest bank

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HDFC merger

HDFC and HDFC Bank's merger effective from July 1 will create one of the world's largest banks, competing with American and Chinese lenders.

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Mega bank emerges

The proposed HDFC-HDFC Bank merger will result in a market capitalization of $171.8 billion, making it the 4th largest bank by market cap.

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Growing giant firm

The new entity will have 120 million customers and 177,000 employees. It plans to grow by 18-20% and double its branches in four years.

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Expand reach

The new entity plans to tap into each other's customer base. The resultant bank can grow its deposit base and offer in-house loan products.

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New entity

HDFC-HDFC Bank merger will create a fully publicly-owned bank. HDFC shareholders will own 41% of the resulting entity.