ICICI Bank once wanted to acquire HDFC, Deepak Parekh spills the secret

Deepak Parekh revealed Chanda Kochhar’s merger proposal between ICICI and HDFC, predating HDFC’s reverse merger. Parekh cited regulatory pressure from the RBI as the primary driver for the HDFC-HDFC Bank merger, emphasizing the need for larger Indian banks. Post-merger, ICICI Bank has outperformed HDFC Bank in key metrics like profit growth and net interest margin.