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Feb 21, 2008 · HDFC Bank will take over Centurion Bank of Punjab (CBoP) in an all-stock deal. The respective bank boards are likely to meet on Saturday to consider the merger proposal. The share-swap deal, worth over Rs 10,000 crore, may be worked around the current market price of Rs 57 a share of CBoP.
- George Smith Alexander
Mumbai, February 25, 2008: The Boards of HDFC Bank and Centurion Bank of Punjab met today and approved, subject to due diligence, the share swap ratio for the proposed merger of Centurion Bank of Punjab with HDFC Bank.
Sep 22, 2023 · HDFC Bank approved the acquisition of Centurion Bank of Punjab for $2.4 billion, becoming one of the largest mergers in the financial sector in India. Recently, HDFC Ltd. (a mortgage lender) merged with HDFC Bank with the aim of rebranding itself.
On 29 June 2005, the boards of directors of Centurion Bank and Bank of Punjab agreed to a merger of the two banks. The combined bank took as its name Centurion Bank of Punjab. Bank of Punjab also had been founded in 1994.
The merger of Centurion Bank of Punjab Ltd (CBoP) with HDFC Bank Limited became effective on May 23, 2008 as per the order of Reserve Bank of India (RBI) with April 1, 2008 as the appointed date.
Feb 26, 2008 · HDFC Bank has acquired Centurion Bank of Punjab for Rs95 billion ($2.38 billion) creating IndiaÆs second largest bank measured in terms of number of branches. The merger is an all-share deal with shareholders of Centurion being offered one HDFC Bank share for every 29 shares they hold in Centurion.
HDFC Bank, India’s third-biggest by market value, has agreed to buy Centurion Bank of Punjab in a deal likely to trigger further consolidation in the country’s banking sector ahead of moves...
