Boards approve HDFC Bank and Centurion Bank of Punjab Merger

Mumbai, Feb. 23 The boards of HDFC Bank and Centurion Bank of Punjab have approved in principle a merger between the two banks.



In a joint statement, the banks said the merger will be subject to “satisfactory due diligence, a fair share-swap ratio, requisite statutory, regulatory and corporate approvals, including those from the Reserve Bank of India, the stock exchanges and shareholders of both banks.”