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HDFC Merger
July 7 , 2023
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- The merger of HDFC Bank Ltd. and Housing Development Finance Corp took place on July 1.
- The new HDFC Bank entity will have around 120 million customers.
- This is greater than the population of Germany.
- The new entity has a combined asset base of around Rs 18 lakh crore.
- This merger creates a lender that ranks fourth in equity market capitalization globally.
- It was only behind JPMorgan Chase & Co., Industrial and Commercial Bank of China Ltd. and Bank of America Corp.
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