HDFC Bank Completes Sale of HDFC Credila Stake

20 Mar 2024 , 11:42 AM

On Wednesday, HDFC Bank said that it has successfully sold its interest in HDFC Credila, the education finance division, to private equity companies BPEA EQT and ChrysCapital for ₹95.53 billion ($1.15 billion).

The transaction, which was made public in June of last year, was required by regulatory regulations prior to the conclusion of the merger between HDFC Bank and mortgage lender Housing Development Finance Corp.

The agreement closes before HDFC Bank’s fourth-quarter earnings report the following month.

Although HDFC Bank reported a third-quarter profit that above expectations, experts noted that the bank was experiencing liquidity challenges and that its margins were weak, which led to a sharp decline in the share price of the bank.

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