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HDFC-HDFC Bank merger value accretive, good for system, economy, says Deepak Parekh
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HDFC-HDFC Bank merger value accretive, good for system, economy, says Deepak Parekh
Apr 4, 2022 6:03 AM

HDFC is set to fold into HDFC Bank in an epic move that will propel the bank closer to SBI in size and way ahead of private peers ICICI Bank and Axis Bank.

In an interview to CNBC-TV18, Deepak Parekh, Chairman of HDFC said the merger is value accretive, good for the system and economy. He expects RBI to approve the proposal.

“The merger is value accretive, it is good for the system, it is good for the economy. RBI themselves in their report has said that large NBFCs must become banks, so it fits in with the RBI’s strategy also. So I guess they will approve and bless our proposal.”

He said there will be no change in chairman and CEO of HDFC Bank.

Watch video for more.

First Published:Apr 4, 2022 3:03 PM IST

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