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Quote on IDFC Ltd & IDFC First Bank merger By Dr. V K Vijayakumar, Geojit Financial Services
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Below Quote on IDFC Ltd & IDFC First Bank merger 04 July 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
IDFC’s proposed merger with IDFC Bank, on the line of the reverse merger of the parent HDFC Ltd with HDFC Bank indicates the consolidation happening in the Indian banking system. This is a healthy development.
IDFC Bank has been constrained by its high cost borrowing and this high cost-income ratio has been weighing on profitability. But during the last one year the cost-income ratio has been steadily coming down and the GNPAs and NNPAs also have been showing a declining trend. Deposit growth also is impressive. The merger can accelerate this trend and make the bank stronger.
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