ICICI Bank
Former HDFC Chief Reveals ICICI Bank Once Tried to Acquire HDFC in a Bold Move
Anthony Lane
Former HDFC Chairman, Deepak Parekh, revealed that ICICI Bank once tried to acquire HDFC, but the proposal was rejected due to concerns over brand identity. The eventual merger of HDFC Ltd. with HDFC Bank in 2023 was driven by regulatory changes and the need for stronger institutions to compete globally. The merger offers insights into the evolving banking landscape and the role of mergers in industry growth.
