HDFC Bank
India’s largest private sector bank in terms of assets, HDFC Bank Limited is an Indian banking and financial services company. Its headquarters are in Mumbai, Maharashtra.
Introduction
India’s largest private sector bank in terms of assets, HDFC Bank Limited is an Indian banking and financial services company. Its headquarters are in Mumbai, Maharashtra.
HDFC Bank is a subsidiary HDFC (Housing Development Finance Corporation). Its first corporate office was inaugurated by the then Union Finance Minister, Manmohan Singh at Sandoz House, Worli. It was founded by Hasmukhbhai Parekh in 1994.
The bank provides the facility of zero balance savings account with which the individuals can avail the basic banking facilities under certain transactional and operational limits.
Products and services
The Bank offers a number of services that includes treasury, auto loans, two-wheeler loans, wholesale banking, retail banking, personal loans, credit cards, etc. along with its various digital products like Payzapp and SmartBUY.
Mergers and acquisitions
In February 2000, HDFC Bank merged with Times Bank. HDFC Bank merged with Times Bank. In the New Generation private sector banks category, this was the first merger of two private banks. Times bank, generally known as The Times Group, India’s largest conglomerate was established by Bennett, Coleman and Co. Ltd. HDFC Bank acquired Centurion Bank of Punjab (CBoP) in 2008, for ₹ 95.1 billion in one of the largest mergers in the financial sector in India.
Investments
HDFC, the parent company of HDFC BANK invested ₹1,000 crores in Yes Bank, in March 2020.
Listings
- Equity share - Bombay Stock Exchange and National Stock Exchange of India.
- American depositary receipts – NYSE
- Global depositary receipts - Luxembourg Stock Exchange
Shareholdings
- Promoter group (HDFC) – 26.14%
- Foreign institutional investors – 20.4%
- Individual shareholders – 8.5%
- Bodies corporate – 7.5%
- Insurance companies – 5.38%
- Unit trust of India – 8.65%
- NRI/OBC/Others – 0.29%
- Financial institutions/banks – 2.75%
- ADS/GDRs – 18.78%
Awards
- India’s best bank: Euromoney Awards, 2020
- FE Best Bank Award, 2019
- Topper in Top 75 Most Valuable Indian Brands (featured 6 times consecutively), 2019
- Best Banking Performer, India, 2016
- Business World Magna Awards, 2016
Vision
HDFC Bank aims to be a world class Indian bank. They have a two-fold objective:
- To be the preferred provider of banking services for target retail and wholesale customer segments.
- To achieve healthy growth in profitability, consistent with the bank’s risk appetite.
The bank is committed to maintaining the highest level of professional integrity, corporate governance, regulatory compliance and ethical standards. HDFC Bank’s businessis drew on five core values: Operational Excellence, Customer Focus, Product Leadership, People and Sustainability.
