As Indian media announced the closure of India’s homegrown gargantuan mortgage lender HDFC Ltd at the end of June 2023 following a decision to merge with its banking arm, HDFC Bank, tipped as the largest transaction in India’s corporate history, there was a sense of nostalgia tinged with bittersweet memories of its genesis and meteoric rise to become a corporate powerhouse. HDFC Ltd revolutionized India’s domestic retail housing mortgage ecosystem at a time when there were no non-banking financial institutions (NBFI) in India offering the facility to Indians who were dreaming of owning a home before retirement, growing exponentially over the years by making housing affordable to the middle class. The entity was also the face of a rising global economic dynamo, signaling to the world how its domestic market possessed enormous potential for growth and gains. The merger announced in 2022 was a strategic move to create one of the world’s most valuable banks by amalgamating two asset-rich organizations—the reverse takeover of the parent company for $40 billion by HDFC Bank. Following the merger, HDFC Bank became a fully publicly owned entity, with shareholders of HDFC Ltd receiving 41 percent ownership in the HDFC Bank. HDFC Bank owns all subsidiaries of HDFC Ltd following the tie-up. This inorganic growth gives the newly merged entity a competitive advantage in size and market capitalization, two sizable pools of resources to make it an entity with a combined value of $172 billion and customer bases of 120 million, making it the fourth largest Bank in the world by market capitalization next to JPMorgan Chase and Company, Industrial and Commercial Bank of China Ltd and Bank of America.
ãã®èšäºã¯ Business Today Sri Lanka ã® August 2023 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Business Today Sri Lanka ã® August 2023 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Breaking Barriers: Peoples Leasing & Finance PLC and Hayleys Solar Collaborate
Peopleâs Leasing & Finance PLC (PLC) and Hayleys Solar have entered into an agreement through a Memorandum of Understanding (MoU).
NSB Continued to Prove its Resilience within an Economic Shudder
NSB demonstrated its mettle by recording a Profit after Tax (PAT) of 7.2 billion rupees for the fiscal year ended December 31, 2023.
Pan Asia Bank Posts Steady Performance in 1Q 2024
Pan Asia Banking Corporation reported a steady performance reflecting improved macro economic conditions as the Bank reported its financial performance during 1Q 2024, which showed judicious portfolio management and prudency in dealing with possible fallout on its asset quality in challenging times.
AWS Beats Azure to Top Global Cloud Computing Market Chart with a 31 percent Share
The cloud computing market attracts users worldwide, and the battle for dominance among top providers is a constant narrative.
Ban Ki-moon Appreciates Growing Close Partnership between GGGI and Sri Lanka
During a meeting between Sri Lankan Prime Minister Dinesh Gunawardena and the Chairman of the Global Green Growth Institute (GGGI), Ban Ki-moon, the former expressed his gratitude for the close partnership that exists between Sri Lanka and GGGI.
Korea Provides Support to Several Sectors
Ambassador of Republic of Korea, Miyon Lee met with Prime Minister Dinesh Gunawardena to discuss follow up actions on the decisions taken at the discussions held during the Prime Ministerâs visit to Korea.
Many Benefits to a Number of Sectors in Sri Lanka as a result of PM Dinesh Gunawardena's visit to Korea
During a meeting, the Governor of Gyeongsangbuk-du Province of the Peopleâs Republic of South Korea, Lee Cheol Woo, met with Sri Lankan Prime Minister Dinesh Gunawardena.
The Good Cashmere Standard Boosts its Sustainability Credentials with Focus on Animal Welfare and Transparency
By revising the standardâs criteria and embarking on a new collaboration with TextileGenesis, A Lectra Company, the Aid by Trade Foundation (AbTF) is boosting the credentials of The Good Cashmere Standard (GCS) as an independent seal for sustainably produced and traceable cashmere fibers from Inner Mongolia.
The Central Bank of Sri Lanka Releases its inaugural Annual Economic Review and Financial Statements and Operations of the Central Bank for the Year 2023
The inaugural publication under Section 80 of the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA),namely, the Annual Economic Review 2023, and the inaugural publication under Section 99 of the CBA, namely, Financial Statements and Operations of the Central Bank 2023, were presented to Ranil Wickremesinghe, the President and Minister of Finance, Economic Stabilization and National Policies, by Dr. P Nandalal Weerasinghe, the Governor of the Central Bank of Sri Lanka.
President Ranil Wickremesinghe at the Opening of ITC Batnadina Hotel
President Ranil Wickremesinghe expressed his dedication to fostering an economic landscape in the nation that would prevent future struggles among its citizens.