Deepak Parekh retires ahead of HDFC, HDFC Bank merger
1 year, 5 months ago

Deepak Parekh retires ahead of HDFC, HDFC Bank merger

The Hindu  

Deepak Parekh, chairman, Housing Development Finance Corporation Ltd., on Friday announced his retirement ahead of the merger of HDFC Ltd. with HDFC Bank Ltd, ending his 45-year association with the mortgage lender. While this will be my last communication to shareholders of HDFC, rest assured we now stride tall into a very exciting future of growth and prosperity.” Mr Parekh said in a letter to HDFC Ltd’s shareholders. He said as HDFC hands the baton, “my wish is that our core founding values of kindness, fairness, efficiency and effectiveness gets woven deeper into the fabric of the HDFC group.” “To all our employees transitioning to HDFC Bank, know that you will always carry the indelible mark of ‘HDFC’ with you. Mr. Parekh said the biggest risk organisations face today “is staying with the status quo, believing what worked well yesterday will continue in the future.

Hdfc Bank Hdfc Parekh Mr Parekh  mr  retires  bank  continue  ahead  deepak  change  merger  hdfc  parekh  finance  future  growth

History of this topic

HDFC to merge with HDFC Bank today, biggest transaction in history of India Inc
1 year, 5 months ago

HDFC to merge with HDFC Bank today, biggest transaction in history of India Inc

Deccan Chronicle  

New Delhi: Housing finance major HDFC will merge with its subsidiary HDFC Bank on Saturday as their respective boards have cleared the proposal on Friday. The board has fixed July 12, 2023, for the transfer of non-convertible debentures while July 7 for the transfer of commercial papers of HDFC Ltd in the name of HDFC Bank. Termed as the biggest …

HDFC Ltd, HDFC Bank Ltd. boards approve merger
1 year, 5 months ago

HDFC Ltd, HDFC Bank Ltd. boards approve merger

The Hindu  

HDFC Bank Ltd. on Friday announced the completion of merger of Housing Development Finance Corporation Ltd. with itself, following the receipt of all requisite shareholder and regulatory approvals. Pursuant to the share exchange ratio as per the merger scheme, HDFC Bank will issue and allot to eligible shareholders 42 new equity shares of the face value of ₹ 1 each, …

HDFC Bank-HDFC merger in effect from July 1, to become one of world's most valuable banks
1 year, 5 months ago

HDFC Bank-HDFC merger in effect from July 1, to become one of world's most valuable banks

India TV News  

HDFC Bank-HDFC merger: The merger of the HDFC Bank and the Housing Development Finance Corp will be completed on July 1, making HDFC Bank one of the world's most valuable banks. According to HDFC Group Chairman Deepak Parekh, the boards of HDFC Bank and HDFC will schedule a meeting on June 30 after market hours. If a customer wants to …

HDFC denies Deepak Parekh’s comments on effective date of July 1 for merger
1 year, 5 months ago

HDFC denies Deepak Parekh’s comments on effective date of July 1 for merger

Live Mint  

HDFC Bank-HDFC merger: NBFC giant HDFC on Tuesday clarified on media reports about the tentative dates for the completion of its merger with HDFC Bank. Many media reports took rounds referring to the press interaction of HDFC's chairman Deepak Parekh wherein the tentative effective date of the scheme was said as July 1, 2023, and the tentative 'record date' for …

All HDFC stocks closed higher, following the announcement of the merger
1 year, 5 months ago

All HDFC stocks closed higher, following the announcement of the merger

Live Mint  

HDFC Bank shares closed at ₹1,658.00, up 1.38% from the previous day's close. following Deepak Parekh, chairman of HDFC, announcing that the merger of HDFC and HDFC Bank would take place on July 1 onwards. This buying sentinements improved for other banking stocks also, and the Bank Nifty rose 1.2% as a result, following the announcement of the merger of …

Merger of HDFC with HDFC Bank effective from July 1, says Deepak Parekh
1 year, 5 months ago

Merger of HDFC with HDFC Bank effective from July 1, says Deepak Parekh

The Hindu  

The merger of housing finance major HDFC with the country's largest private lender HDFC Bank will be effective from July 1, HDFC Chairman Deepak Parekh said on June 27. The boards of HDFC and the private bank will meet on June 30 post to clear and approve the merger, Mr. Parekh told reporters in Mumbai. The merger of the corporation …

Merger With Home Loan Major HDFC To Take 8-10 Months More: HDFC Bank
2 years ago

Merger With Home Loan Major HDFC To Take 8-10 Months More: HDFC Bank

ABP News  

HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday. "We believe going by the past practice and going by past trends, it will take about 8-10 months time before an effective date is announced," HDFC Bank's chief executive and managing director Sashidharan Jagdishan said at the …

HDFC Bank to double network in 3-5 yrs, to open up to 2,000 branches per year
2 years, 6 months ago

HDFC Bank to double network in 3-5 yrs, to open up to 2,000 branches per year

Live Mint  

HDFC Bank MD and CEO, Sashidhar Jagdishan said the proposed merger with HDFC is an opportunity that the bank cannot afford to miss. Talking about the merger with HDFC, the HDFC Bank CEO said, "We look forward to the phenomenal set of talent, deep product knowledge and expertise, the processes, and systems that HDFC Ltd will add to the Bank’s …

HDFC Bank, HDFC Stocks Slump Post Merger News; Brokerages See Robust Growth, Should You Buy?
2 years, 8 months ago

HDFC Bank, HDFC Stocks Slump Post Merger News; Brokerages See Robust Growth, Should You Buy?

News 18  

HDFC and HDFC Bank fell sharply for the third straight day after the announcement of merger deals. “The proposed transaction would create meaningful value for various stakeholders including respective shareholders, customers, employees, as the combined business would benefit from increased scale, comprehensive product offering, balance sheet resiliency and the ability to drive synergies across revenue opportunities, operating efficiencies and underwriting …

Merger Between HDFC, HDFC Bank: Benefits, Challenges & Market Impact of the Deal
2 years, 8 months ago

Merger Between HDFC, HDFC Bank: Benefits, Challenges & Market Impact of the Deal

The Quint  

The first was a change in regulations for Non-Banking Financial Companies and Housing Finance Companies. After that, the Reserve Bank of India had tightened its regulations for NBFCs and housing finance companies. You’re now starting to see those regulations converge," Dugal said, adding that it was less beneficial for HDFC Ltd to stay an HFC and not be part of …

Discover Related