Mortgage lender HDFC is set to merge with HDFC Bank to create India’s third-biggest financial entity in terms of market capitalisation. With the proposed merger, HDFC Bank can build its own housing loan portfolio and also enhance its existing customer base.
HDFC Bank will be 100% owned by public shareholders. The scheme is subject to the receipt of multiple approvals.
HDFC Bank CEO: Sashidhar Jagdishan
Headquarters: Mumbai
