ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

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.

Total advances by HDFC Bank on Dec. 31 were 12.6 trillion rupees ($166.8 billion), and HDFC's were 5.2 trillion rupees. In comparison, Axis Bank clocked advances of 6.6 trillion rupees and ICICI Bank 8.1 trillion rupees. The merger will also help HDFC Bank close its gap with India's largest bank, the State Bank of India (SBI). The public-sector lender reported advances of 26.6 trillion rupees on Dec. 31.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more