Bandhan Bank Largest Deal in the Asset Management

BANKING AND ECONOMY

  • Bandhan Bank’s Bandhan Financial Holding will acquire the IDFC Asset Management Company and IDFC AMC Trustee Company for Rs 4,500 crore -  the largest deal to date in the Indian asset management space.
  • This deal allows the Bandhan group to enter India’s growing mutual fund business. Currently, the sector manages Rs 38 trillion of assets.
  • With this deal, Bandhan Bank entered into the ICICI, HDFC and the State Bank of India dominated asset management financial group.
  • The Bandhan Bank-led consortium also includes ChrysCapital and Singapore's sovereign fund GIC which have the equity pattern of 60% for Bandhan Financial Holding and 20% each for the other two partners.
  • Bandhan Financial Holding is the holding company of private sector lender Bandhan Bank.

 

Facts to know:

 

  • Bandhan Bank was established in 2001.
  • Headquarters of Bandhan Bank: Kolkata.
  • CEO of Bandhan Bank: Mr. Chandra Shekhar Ghosh.
  • Chairperson of Bandhan Bank: Mr. Anup Kumar Sinha
Bandhan Bank
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