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IDFC Bank, Capital First may announce merger today

IDFC Bank and nonbanking financial company (NBFC) Capital First are likely to announce a merger on Saturday, creating a larger institution with about Rs 1.4 lakh crore of assets and nearly 64 lakh customers. The union could also act as a springboard for IDFCBSE 0.00 % Bank looking to quickly grow its assets, said two people familiar with the matter.”The boards are meeting tomorrow and something can be expected on the merger front,” said one of the persons quoted above.
Source: Latest News

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