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HDFC Bank (HDB) has been upgraded to a Zacks Rank 2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
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 the largest private sector bank by market cap in India, and the future could still be bright for this banking powerhouse. Led by longtime CEO Aditya Puri, the full-service bank has a ...
It will be integrated with banks, fintechs and e-commerce players. Initially it will go live with AU Small Finance Bank, Axis Bank, HDFC Bank, IDFC First Bank, and YES Bank. [63] During Diwali week, ONDC recorded nearly 1.2 million transactions from 6 November to 13 November 2023 across 600+ cities. [64]
The second-largest bank in the U.S. is Bank of America, which has assets of $3.3 billion despite the U.S. banking industry being many times larger than Canada's. Outsized market share has allowed ...
HDFC Life was established in 2000 becoming the first private sector life insurance company in India. [10] By 2001, the company had its 100th customer, strengthened its employee force to 100, and had settled its first claim. HDFC Life launched its first TV advertising campaign 'Sar Utha Ke Jiyo' in 2005.
The largest bank in the U.S., with $3.9 trillion in assets as of the end of 2023, JPMorgan shares the spotlight with Bank of America and Wells Fargo as one of the best national banks for 2024 ...