He has been in a sense the person who guided the institution, he created the entire financial conglomerate along with his esteemed colleagues of whom Keki Mistry and Renu Karnad have joined the board."
The bank, which has always reported NIMs between 4-4.4 percent range, is confident of getting the profitability or the returns back to historical levels in up to 18 months, he said.
HDFC Bank merged with HDFC on July 1. The largest merger in India s corporate history made the Mumbai-based private sector lender the world s seventh most valuable bank
“The bank has demonstrated that it can do business in a rangebound manner. We operate within a range of 4% to 4.4% over multiple business and interest rate cycles,” said Jagdishan. “But with the merger and because the home loan is now going to be a significant part of the total advances book and it carries a lesser spread. The NIMs will drop, I think in Q2, which will be declared sometime in the later part of October. It will be visible as to where the impact of NIM will be.”