HDFC Bank offloads its entire 4.31 per cent stake in Bandhan Bank

Srinivasan Vaidyanathan, Chief Financial Officer of HDFC Bank, has confirmed the development in the post-earnings media call without divulging any details

HDFC Bank has sold its entire 4.31 per cent stake in Bandhan Bank during the December quarter, according to the latest shareholding pattern data of the latter. 

Srinivasan Vaidyanathan, chief financial officer, HDFC Bank confirmed the development in the post-earnings media call without divulging any details, on Tuesday. 

“We do not have any material stake as we speak. It is a part of our treasury action. It was a portfolio of our treasury and they determine at an appropriate time, appropriate value, and assessment,” he said. The erstwhile mortgage financier HDFC Ltd held nearly 10 per cent in Bandhan Bank few years back. HDFC’s stake was transferred to HDFC Bank after their merger.