HDFC and HDFC Bank merger will facilitate higher credit growth in India: HDFC Bank chairman
Source: ANI
Mumbai, July 16: The proposed merger of HDFC Bank and HDFC will lead to a large and more stable balance sheet and help boost credit growth in the country, HDFC Bank Chairman Atanu Chakraborty said on Saturday.
“Housing Finance is going to be a huge growth opportunity and one of the key drivers of India’s GDP over the next decade. With the advantage of lower cost of funds and the strong distribution network that we have built, among several other factors, there is huge merit in seizing this opportunity,” Chakraborty said in his address at the 28th Annual General Meeting of HDFC Bank.
“A large and more stable balance sheet that the merger would create, would also enable us to step up our exposures and facilitate higher credit growth in the economy,” he said.
On April 4, 2022, HDFC Bank and HDFC Limited announced a composite of scheme of amalgamation, subject to various regulatory approvals.
