The upgrade of HDFC Bank’s local currency deposit ratings is underpinned by the significant growth in the bank’s balance sheet in recent years, with an increased market share in terms of assets, deposits and advances, and its growing systemic importance in the Indian banking community, Moody’s said. The ratings agency also assigned ‘Baa2’ foreign currency long-term ratings to notes to be issued under HDFC Bank’s 1 bln usd medium term note programme. The challenge for HDFC Bank will be to integrate the business and cultures of HDFC Bank with its merger partner Centurion Bank of Punjab/Lord Krishna Bank, into a single cohesive unit, the ratings agency noted. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Intraday data provided by ComStock , an Interactive Data Company and subject to the Terms of Use . Historical, current end-of-day data, and splits data provided by FT Interactive Data . read more
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