As regards the rationale for the merger, IDFC FIRST Bank said it would lead to a simplification of the corporate structure of IDFC Financial Holding, IDFC Ltd., and IDFC FIRST Bank by consolidating them into a single entity and will help streamline the regulatory compliance of the aforesaid entities.
It seems to be a merger season in the Indian banking sector. On Monday, the Board of Directors of listed IDFC FIRST Bank Ltd approved the composite scheme of amalgamation amongst IDFC Financial Holding Company Ltd, IDFC Ltd and the bank.The .