Bandhan Bank overcomes all regulatory hurdles for merger with Gruh Finance

KOLKATA: Bandhan Bank has overcome all the regulatory hurdles for its merger with housing finance company Gruh Finance with the National Company Law Tribunal, Kolkata Bench clearing the scheme of amalgamation.
Bandhan Bank has received the certified copy of the NCLT order on Monday, Managing Director Chandra Shekhar Ghosh told ET.

"We will now have to fix the merger date. Hopefully all the processes will be completed in a month's time," Ghosh said.

Merger with Gruh Finance will help the Kolkata-based private lender diversify its loan portfolio of Rs 45400 crore, which is at present heavily skewed towards micro loans with 85% share.

Gruh Finance has a loan portfolio of Rs 17700 crore.