Merger raises HDFC Bank’s total business to over Rs 41 trn in FY23

The reverse merger of HDFC with its subsidiary HDFC Bank effective Saturday has increased the total business of the merged entity to over Rs 41 lakh crore, closer to the country’s biggest lender SBI.

The total business (deposit and advances) of State Bank of India (SBI) stood at Rs 70.30 lakh crore at the end of March 31, 2023.

However, the combined profit is higher at Rs 60,000 crore as compared to Rs 50,232 crore recorded by SBI in…