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Centurion and ICICI Bank have differences on swap ratio - Views on News from Equitymaster
 
 
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  • Jan 14, 2000

    Centurion and ICICI Bank have differences on swap ratio

    ICICI Bank and Centurion Bank are having some differences regarding the swap ratio for their expected merger. Centurion Bank is keen for a swap ratio of 1:4, that is one share of ICICI Bank for four shares of Centurion Bank. However ICICI Bank wants it to be a 1:5 ratio.

    A merger between ICICI Bank and Centurion Bank would create India's largest private sector bank merger with assets at Rs 100 bn. It would be larger than the merger between HDFC Bank and Times Bank that has combined assets of Rs 75 bn.

    In private sector banking we could see more of these mergers happening as the new private sector banks are very aggressive about their expansion plans and this method ensures higher levels of assets and a larger branch network. This will enable

    Market View:
    ICICI Bank has good growth prospects and is a technology savvy bank. Its on the "BUY" list of many analysts.

     

     

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