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Homegrown bank giant bigger than Morgan Stanley to arise from India merger

Business Standard


By Preeti Singh and Divya Patil


A homegrown Indian company will for the first time rank among the world’s most valuable banks after completing a merger, marking a new challenger to the largest American and Chinese lenders occupying the coveted top spots. 

 


The tieup of HDFC Bank Ltd. and Housing Development Finance Corp. creates a lender that ranks fourth in equity market capitalization, behind JPMorgan Chase & Co.,…


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