Merger looks strategic. ICICI Bank plans to acquire Bank of Rajasthan (BoR), a private sector bank with 463 branches and assets of ~Rs172bn. We expect this transaction to be value accretive for ICICI as it would expand its existing branch network by ~27%, and strengthen its presence in north India...
To read the full research report you can visit:
http://www..in/productattachment/BrokerRecommendation/ICICI%20Bank.pdf
Source: Dalal Street investment Journal
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