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Mergers, Acquisitions and Takeovers Case Study

Case Title:

HDFC's Acquisition of Centurion Bank: Aiming for No.1 among India’s Private Sector Banks?

Publication Year : 2010

Authors: A Chakraborty, K Ray, S Chaganty

Industry: Banking, Insurance and Financial Services


Case Code: MAA0185IRC

Teaching Note: Not Available

Structured Assignment:  Available

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HDFC Bank, the second largest private sector bank had dominated the Indian banking sector since its establishment in 1994. Since its inception, over the years HDFC Bank had developed itself into one of the nation's leading private banks in India, providing diversified financial services and products. In order to consolidate its position in the Indian banking sector, HDFC Bank acquired 100% stakes in Centurion Bank of Punjab on 20 May 2008. The expansion was in line with HDFC Bank's focus on expanding its operations in the Indian banking sector. Post acquisition HDFC Bank had planned to be the leading Indian private bank ahead of ICICI Bank. The merger would provide HDFC Bank with greater access to the North (Punjab and Haryana) as well as the South (particularly Kerala), thereby strengthening its presence in those regions. Apart from the strong retail focus of both the banks, Centurion Bank's strong small and medium enterprise relationships would complement HDFC's bias towards highly rated corporates thus expanding HDFC's network. It thus remains to be seen how well HDFC Bank copes with the increased competition and successfully achieve its targets in future.

Pedagogical Objectives:

  • To understand the developments in the Indian banking sector.
  • To understand the growth strategies of HDFC Bank.
  • To have a brief understanding about the strategies adopted by HDFC Bank to be the no 1 private bank of India.

Keywords : Indian banking sector, Reforms in Indian banking sector, Major players of Indian banking sector, Operating performance of Indian banks, Centurion Bank of Punjab, Non-performing assets (NPA), Bank of Punjab Ltd, Lord Krishna Bank, SWOT (strengths, weaknesses, opportunities, threats) analysis of Indian Banks, Banking operations, Retail banking, Wholesale banking, Public sector banks, Private banks, Deposits and advances of Indian banks

Contents : 
HDFC Bank- An overview
HDFC Bank’s Network in India
Segmental Performance of HDFC Bank
Mergers & Acquisition by Centurion Bank
Centurion Bank’s Branches in India
Acquisition of Centurion: Will It Pay Off?

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