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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. [24] [25] 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.
The bank achieved a profit after tax (PAT) of ₹2,437 crore in the financial year 2023, maintaining a capital adequacy ratio of 16.82%. The bank's retail loans showing a gross non-performing asset (NPA) ratio of 1.65% and a net NPA ratio of 0.55% as of March 31, 2023. The overall gross NPA ratio is 2.51%, while the net NPA ratio is 0.86%.
Punjab National Bank (abbreviated as PNB) is an Indian government public sector bank based in New Delhi. [5] It was founded in May 1894 and is the second-largest public sector bank in India in terms of its business volumes, with over 180 million customers, 12,248 branches, and 13,000+ ATMs.
These investors include State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Rakesh Jhunjhunwala, Radhakishan Damani and Azim Premji trust. [ 49 ] On 6 March 2020, ICRA downgraded the rating of Yes Bank's ₹ 52,600 crore (equivalent to ₹ 620 billion or US$7.4 billion in 2023) in core bonds to a "D" rating, while Moody ...
Union Bank of India, commonly referred to as Union Bank, is an Indian public sector bank headquartered in Mumbai. It has 153+ million customers and a total business of Rs.21,36,405 crores as of June 30 2024 . [7]
Established in 1993 as ICICI Infotech Ltd., 3i Infotech was a wholly owned subsidiary of ICICI/ICICI Bank until ICICI divested the majority of the shares in March 2002, at which point the company ceased to be a subsidiary of ICICI. Demerging from ICICI, the company embraced a wider range of industries, encompassing telecom, retail ...
RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private sector bank founded in 1943 and headquartered in Mumbai. [3] It offers services across five verticals: corporate banking, commercial banking, branch banking and retail liabilities, retail assets, and treasury and financial markets operations.
In 2002, ICICI Limited merged with its subsidiary ICICI Bank and with ICICI PFS Limited. Post-merger, he became the Head of Retail Banking in charge of both Lending and Retail Liabilities in the merged entity, ICICI Bank Limited. He also built the ICICI Bank's SME business in 2003, and managed the Rural Banking Business after 2007. [14] He was ...
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