HDFC Bank merged with HDFC on July 1 in a $40 billion merger, the largest in India’s corporate history, entering the coveted list of the world’s top 10 banks by market capitalisation.
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HDFC Bank on Wednesday said its merged loan book with Housing Development Finance Corporation stood at about 22.45 trillion rupees ($273.77 billion) as at the end of the June quarter. HDFC Bank merged with HDFC on July 1 in a $40 billion merger, the largest in India’s corporate history, entering the coveted list of the world’s top 10 banks by market capitalisation.
HDFC Bank said its loan book rose 13.1% in the June quarter from a year ago on a proforma basis, though some numbers may not be directly comparable with those of the previous year. The merged entity’s deposits aggregated to about 20.64 trillion rupees as of June end, up 16.2% from a year ago.
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The combined entity’s liquidity coverage ratio, a measure of how much cash-like assets the bank has, was around 120% on a proforma basis for the quarter ended June 30, HDFC Bank said in an exchange filing. The bank’s standalone gross advances rose about 15.8% to 16.16 trillion rupees as of June end, while deposits rose 19.2% to 19.13 trillion rupees.
