M&A Deal Summary

HDFC Bank Acquires Times Bank

On February 1, 2000, HDFC Bank acquired financial services company Times Bank

Acquisition Highlights
  • This is HDFC Bank’s 1st transaction in the Financial Services sector.
  • This is HDFC Bank’s 1st transaction in India.

M&A Deal Summary

Date 2000-02-01
Target Times Bank
Sector Financial Services
Buyer(s) HDFC Bank
Deal Type Add-on Acquisition

Target

Times Bank

India
Times Bank Ltd. is a provider of financial services for commercial and individuals.

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Buyer(S) 1

Buyer

HDFC Bank

Mumbai, India

website


Category Company
Founded 1994
Sector Financial Services
Employees134,412
Revenue 1,019.4B INR (2022)
DESCRIPTION

HDFC Bank is a premier private sector banks. The bank’s founding sponsor is the Housing Development Finance Corporation, India’s leading mortgage lender with an outstanding franchise among consumers in India’s financial services sector. HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. HDFC Bank was founded in 1994 and is based in Mumbai, India.


DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 1 of 2
Country (India) 1 of 2
Year (2000) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-23 Centurion Bank of Punjab

Mumbai, India

Centurion Bank of Punjab Ltd. which primarily focused on retail, SMEs and agriculture, had a nationwide retail distribution reach with 240 branches and 386 ATMs.

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