A customer walks into a HDFC Bank branch in Mumbai.
| Photo Credit:
INDRANIL MUKHERJEE
Because of the merger between HDFC Bank and HDFC Ltd the larger balance sheet of the bank would offer to the national economy possibilities of higher credit growth, a larger bouquet of financial products and higher flows into affordable housing, agriculture, and MSME said Atanu Chakraborty, Part-time Chairman and Independent Director, HDFC Bank Ltd. at the Annual General Meeting on Friday here.
“As a consequence of the merger, the bank is poised to benefit from the addition of a market-leading home loan product which can now be directly offered through the bank’s large network of branches, helping a greater number of people fulfil their aspirations to be home owners. The home-loan business will also benefit from the low cost of funds that a bank traditionally enjoys,” he said.
“It will also enable the bank to offer to its wider customer base, a full suite of financial products like life insurance, general insurance, health insurance, and investment products like mutual funds, by leveraging the strength of major entities like, HDFC Ergo, HDFC Life and HDFC Mutual Fund, which now come into the Bank’s fold, as a result of the merger,” he added.