The bank will instead operate its consumer-banking franchise from four wealth centers in Singapore, Hong Kong, the United Arab Emirates and London, it said Thursday in a statement.
Launched in 1994, India's HDFC Bank is now the world’s 10th most valuable bank and has surpassed Citibank and HSBC in worth standing at about $90 billion.
The payment was made due to a clerical error. Meanwhile, cosmetics giant Revlon Inc. is embroiled in a legal dispute with some of its lenders over the company’s debt-restructuring tactics.
UCBs accounted for 1.8% of total industry credit in September 2025—down from 2.2% five yrs ago—showing that they are losing ground to faster PSU banks.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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