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On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [25] [26] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
In July 2023, HDFC merged with HDFC Bank, India’s largest private-sector bank. The merger aimed to broaden the group's financial offerings and enhance customer access by leveraging the bank's extensive network and diverse portfolio. This strategic consolidation marked a significant milestone in India's financial services landscape. [12]
HDFC Securities is the stock-broking arm of India’s largest private-sector lender, HDFC Bank, [2] and began operations in April 2000. It began as a joint venture between HDFC Bank Limited, HDFC Limited and Indocean eSecurities Holdings Limited. [3] Along with its stock broking services, HDFC Securities is a distributor of financial products.
Bank of America (NYSE: BAC) shareholders have plenty to celebrate heading into 2025. The megabank's upcoming fourth-quarter earnings report on Jan. 16 will be an opportunity for management to ...
Date. Acquiring bank. Acquired bank. Purchase price. Sept. 30, 1998. Bank of America. NationsBank. $62 billion. July 1, 2004. J.P. Morgan Chase. Bank One. $58 billion
Russia tapped the Russian National Wealth Fund to buy the central bank's stake in Sberbank, ending years of debate about potential conflicts of interest arising from the central bank controlling the country's top lender. [421] [422] 11 2008 China Unicom: China Netcom: 24.0 34
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In 2013, Tata Capital Growth Fund picked up a minority stake in the company. [12] Home First Finance turned profitable in 2014. [13] In February 2017, private equity firm True North acquired a majority stake in Home First Finance for over ₹ 600 crore.