(CNBC) India’s largest private lender HDFC Bank has completed its merger with Housing Development Finance Corporation, the country’s biggest mortgage lender, in a deal that pits the new entity against the world’s largest banks. The merger took effect on July 1, following shareholder and regulatory approvals. The merged entity will be the world’s fourth largest bank by market cap in the world — behind JPMorgan Chase, Industrial and Commercial Bank of China and Bank of America.
India’s HDFC Bank completes $40 billion takeover of the country’s largest mortgage lender. Here’s what it means
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