Indian economy is facing slight slowdown but many companies have announced strong results. As the quarterly results season in ongoing, traders are expecting stock specific action. Mr.

HDFC Bank, India’s second biggest lender by market value, has opened its first full-fledged overseas commercial branch at a new financial district in Bahrain. 

The bank stated that it has chosen Bahrain due to its excellent location, clean, open and transparent regulations, cost-effectiveness, and good bilateral relations between India and Bahrain. 

HDFC has decided to lift Rs 40 billion debts in order to fund its stake purchase in HDFC Bank.

The debt will be raised within the next 18 months.

After its planned merger with the Centurion Bank of Punjab (CBoP), Housing Development Finance Corporation

Banking sector Major HDFC bank is in talks with Centurion Bank of Punjab.  The news of the possible merger was first reported by Economic Times on 13, Feb, 2008.  If the deal is finalised, HDFC bank will become the third biggest bank with a wide network all across the country.

Centurion Bank of Punjab informed the stock exchange that a meeting of the board of directors of the bank will be held on February 23, 2008 to consider a possible merger with HDFC Bank Ltd.