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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. [23] [24] 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.
HDFC held 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a fee. [22] The key business areas of HDFC Bank were wholesale and retail banking and treasury operations. As of April 2023, its market capitalisation was ₹ 941,386 crore (US$110 billion), making it India's third largest publicly traded company. [23]
HDFC Bank is one of the LMD 100 companies in Sri Lanka. The bank ranked 78th in the 2020/21 edition. [2] Brand Finance calculated the brand value of HDFC Bank to be LKR763 million in 2022. [3] Due to the effects of the Sri Lankan economic crisis, Fitch Ratings placed the bank along with twelve other Sri Lankan banks on Rating Watch Negative.
Industrial and Commercial Bank of China, the world’s largest bank by total assets This list is based on the April 2024 S&P Global Market Intelligence report of the 100 largest banks in the world. The ranking was based upon assets as reported and was not adjusted for different accounting treatments. [ 1 ]
Other richly valued momentum names such as Palantir and AMD have sold off more than 10% in the past month as traders price in a more elevated interest rate backdrop — among other factors.
Microfinance initially had a limited definition: the provision of microloans to small scale entrepreneurs and small (informal sectors) businesses lacking access to credit. [4] The two main mechanisms for the delivery of financial services to such clients were: (1) relationship-based banking for individual entrepreneurs and small businesses; and
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
Each of these banks is to open at least 25% of its branches in areas that do not have any other bank branches (unbanked regions). A small finance bank should hold 75% of its net credits in loans to firms in priority sector lending, and 50% of the loans in its portfolio must be less than ₹25 lakh (US$34,000). [78]