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ICICI Securities Report
Senior management team of HDFC Bank Ltd. during its analyst day on May 31, 2022 shared their perspective and thoughts on:
Why this is an opportune time to fructify the merger given housing loan growth opportunity with deeper penetration, regulatory convergence, conducive market development, pricing convergence, portfolio rebalancing, enhanced cross-sell, etc.
What gives them confidence on merger being approved in the proposed form and structure.
How the merged entity will continue to grow at well above industry average as demonstrated in the past.
Reversion in return on equity is estimated to be quick as capital is consumed and
How it will significantly accelerate its deposit engine through deeper and broader network expansion, reactivating front-end team aggression and not being an outlier on deposit rates.
The interaction addressed some of the queries relating to the merger and provided better visibility on strategic intent and how synergy benefits would more than offset any statutory drag.
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