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HDFC Bank chief flags funding risk in 1st post-merger AGM
Business Standard
|August 12, 2023
The merger with HDFC is all set to impact the NIMs of the bank because of the higher proportion of the low-interest yielding housing loans, CEO & MD Sashidhar Jagdishan said
HDFC Bank Managing Director and CEO Sashidhar Jagdishan on Friday flagged funding as a risk for the lender, after the completion of the $40-billion amalgamation with Housing Development Finance Corporation (HDFC) on July 1.
"The risks of the merger are the funding part of it," Jagdishan told shareholders of the largest private sector lender at its first post-merger annual general meeting. HDFC Bank Chairman Atanu Chakraborty, on the other hand, expressed confidence that the private sector lender would benefit from the low cost of funds that a bank traditionally enjoys.
This story is from the August 12, 2023 edition of Business Standard.
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