View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
December 20, 2017

IndusInd Bank-Bharat Financial merger receives Competition Commission’s approval

The Competition Commission of India (CCI) has given go ahead to the proposed merger of microfinance company Bharat Financial Inclusion with IndusInd Bank.

The deal, first announced in October this year, is also subject to the approvals from the Reserve Bank of India and other statutory and regulatory approvals, including the approvals of the Stock Exchanges, SEBI, the National Company Law Tribunal and respective shareholders.

The merger will be effected through an all-stock transaction of BFIL into IndusInd through a composite scheme of arrangement.

After completion of merger, the combined entity will have 4,000 branches and outlets with around 16 million customers.

BFIL, formerly SKS Microfinance, had a customer base of 6.8 million and loan portfolio of INR77bn ($1.2bn) as of 30 June 2017.

Topics in this article: , , , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Retail Banker International