HDFC Bank's business philosophy is based on Iour core values - Operational Excellence,

Customer Focus, Product Leadership and People. The objective is to build sound customer
Iranchises across distinct businesses so as to be the preIerred provider oI banking services Ior
target retail and wholesale customer segments, and to achieve healthy growth in proIitability,
consistent with the bank's risk appetite.
Given the proIessional expertise oI the management team and the overall Iocus on recruiting
and retaining the best talent in the industry, the bank believes that its people are a signiIicant
competitive strength.