With the merger likely effective July 1, the new HDFC Bank entity will have around 120 million customers that’s greater than the population of Germany.
A homegrown Indian company will for the first time rank among the world's most valuable banks after completing a merger, marking a new challenger to the largest American and Chinese lenders occupying the coveted top spots.
The tieup of HDFC Bank & Housing Development Finance Corp creates a lender that ranks 4th in equity m-cap, behind JPMorgan Chase, Industrial and Commercial Bank of China and Bank of America Corp
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