HDFC Bank sees profits more than doubling to $15 bn in 5 years after merger

CEO Sashidhar Jagdishan tells analysts merger with HDFC gives the lender the opportunity to double its balance sheet every five years

The merger of HDFC Bank and HDFC will create a financial powerhouse, which will see the lender more than double its profits as well as balance sheet size in five years, Sashidhar Jagdishan, MD & CEO of HDFC Bank, said on Tuesday.

While addressing analysts, Jagdishan said capital or loan growth will not be an issue for the bank. The only challenge will be liabilities. To garner more deposits, the bank will add 1,500 to 2,000 branches each year for the next three years, which will result in doubling of the distribution network by three years, he said. According to