The Competition Commission of India (CCI) has approved the proposed merger of Lakshmi Vilas Bank with Indiabulls Housing Finance. In April 2019, Lakshmi Vilas Bank had announced its merger with Indiabulls Housing Finance in a share-swap deal with an intent to create a combined entity with larger capital base and wider geographical reach. The board of Lakshmi Vilas Bank had approved the merger with Indiabulls Housing Finance in which shareholders of the bank will get 14 shares of Indiabulls Housing Finance for every 100 shares they hold.
After the proposed merger, Indiabulls Housing Finance will get access to low cost deposits, geographical diversification and expanded client-base and cross-selling opportunities.
Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.
