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India's HDFC units merge to create banking juggernaut

Country's largest private bank to 'boost affordable housing,' infrastructure

The merger will help HDFC Bank close its gap with India's largest bank, the State Bank of India.   © Reuters

BENGALURU -- HDFC, India's largest housing finance company, will fold into the group's banking unit, HDFC Bank, to create a juggernaut. Its loan book will eclipse the combined credit extended by the next two biggest private banks, Axis Bank and ICICI Bank.

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