HDFC Bank

HDFC Bank Limited (also known as HDB) is an Indian banking and financial
services company headquartered in Mumbai. It is India's largest private sector bank
by assets and world's fourth largest bank by market capitalisation as of July 2023,
following its takeover of parent company HDFC.[12][13] It is the second largest
company by market capitalisation of
$172 billion on the Indian stock exchanges.[14] It is also the sixteenth
largest employer in India with nearly 1.73[15] lakh employees.[16]

History
HDFC Bank was incorporated in 1994 as a subsidiary of the Housing
Development Finance Corporation, with its registered office in Mumbai,
Maharashtra, India. Its first corporate office and a full-service branch at Sandoz
House, Worli were inaugurated by the then Union Finance Minister, Manmohan
Singh.

As of 1 June 2023, the bank's distribution network was at 8,344 branches and
19,727 ATMs across 3,811 cities.It has installed 4,30,000 POS terminals and
issued 2.35 crore (23.5 million) debit cards and 1.2 crore (12 million) credit cards
in FY 2017.[17] It has a base of 1,77,000 permanent employees as of 1 June 2023.
[18]
Products and services HDFC Bank Limited

HDFC Bank provides a number of products and services

Type Public
including wholesale banking, retail banking, treasury, auto
loans, two-wheeler loans, personal loans, loans against Traded NSE: HDFCB
as (https://www
property, consumer durable loan, lifestyle loan and credit india.com/ge
cards. Along with this various digital products are otes/equity?
Payzapp and SmartBUY.[19] bol=HDFCB
A K)
BSE: 500180
Mergers and acquisitions ps://www.bs
a.com/stock
HDFC Bank merged with Times Bank in February 2000. re-price/x/y/
This was the first merger of two private banks in the New 80/)
NYSE: HDB
Generation private sector banks category.[20] Times Bank (
was established by Bennett, Coleman and Co. Ltd., s://www.nys
commonly known as The Times Group , India's largest m/quote/XN
DB) (ADS)
media conglomerate.[21] BSE
SENSEX
In 2008, Centurion Bank of Punjab (CBoP) was acquired Constituent
by HDFC Bank. HDFC Bank's board approved the NSE NIFTY
5
acquisition of CBoP for ₹9,510 crore in one of the largest Constituent
mergers in the financial sector in India.[22] ISIN INE040A01034
(https://isin.to
In 2021, the bank acquired a 9.99% stake in FERBINE, olforge.org/?la
nguage=en&isi
an entity promoted by Tata Group , to operate a Pan- India
n=INE040A010
umbrella entity for retail payment systems, similar to the 34)
National Payments Corporation of India.[23]
Industry Financial
services

Founded August
1994 (via
the
merger
between
HDFC-
In September 2021, the bank partnered with Paytm to launch HDFC
bank)
a range of credit cards powered by Visa.[24]
Headquarters Mum
On April 4, 2022, HDFC Bank announced a merger with Maha
India
the Housing Development Finance Corporation.[25] Upon
Area India
the completion of the merger, HDFC became the fourth- served
largest bank in the world by
Key Atanu
market capitalization.[26] The effective date of the people Chakraborty
merger was set to be July 1, 2023. After the merger (Chairman)[1]
Sashidhar
takes place, HDFC, a housing financing corporation,
Jagdishan
will transfer its home loan portfolio to HDFC Bank. (CEO)
Also, the bank is giving home financing company
Products Credit card
depositors the choice of either withdrawing their Consumer
money or renewing their deposits with the private sector banking
Commerci
bank at the interest rate that the bank is currently offering. banking
[27]
Finance an
insurance
Investments Investmen
banking
In March 2020, Housing Development Finance Mortgage
loans
Corporation, parent company of HDFC Bank, made an
Private
investment of ₹1,000 crore in Yes Bank.[28] As per the banking
scheme of reconstruction of Yes Bank, 75% of the total Private eq
Wealth
investment by the corporation would be locked in for
managem
three years. On 14 March, Yes Bank allotted 100 crore
shares of the face value of ₹2 each for consideration of ₹10 Revenue ₹2.05 lakh
(US$26 billi
per share (including ₹8 premium) to the corporation,
aggregating to 7.97 percent of the post-issue equity share Operating ₹61,498.
income (US$7.7 b
capital of Yes Bank.[29]
Net ₹45,997.11
income (US$5.8 billi

Total ₹25.3 lakh c

(US$320 billi
assets
 Total ₹2.85 lakh c
Listings and shareholding
equity (US$36 billion
The equity shares of HDFC Bank are listed on the Number of 1,77,000
Bombay Stock Exchange and the National Stock employees (1 July
2023)[5]
Exchange of India. Its American depositary receipts are
listed on the NYSE issued through JP Morgan Chase Subsidiaries HDFC
HDFC
Bank.[30] HDFC
Securit
Its global depository receipts (GDRs) were listed on the HDFC
Luxembourg Stock Exchange but were terminated by the Manag
Compa
board of directors following its low trading volume.[31] HDFC
Shareholders (as of 30 September 2021)[32] Shareholding
Mutual
Promoter group (HDFC) 25.88% HDB
Foreign inst itut ional investor(FII) 38.30% Financi
Individual shareholders 13.25%
Service
Qualified inst itut ional buyer 4.74%

Insurance companies 2.94% HDFC

Unit Trust of India/mutual funds 14.57% Credila
Financial inst itut ions/banks 0.4%
Financi
Central government 0.6%
Service
Limited
Parivartan: Corporate social
responsibility Website www
.hdfcbank
Parivartan is an umbrella term for all of the corporate .com (htt
social responsibility initiatives by HDFC Bank. ps://ww
w.hdfcba
nk.com)
HDFC Bank's Parivartan initiative spent ₹535 crore in FY
2019–20.[33] Footnotes /
references
[8][9][10][11]
HDFC Bank spent ₹634.91 crore towards Parivartan,in FY 2020-21. Out of
₹634.9 crore, over ₹110 crore was allocated and utilised towards initiatives focused
on COVID-19 relief.[34]
HDFC Bank has pledged to become carbon neutral by 2032.[34]

Controversies
On 2 December 2020, the Reserve Bank of India (RBI) ordered HDFC Bank to
temporarily halt the issuance of new credit cards and all planned activities under
the bank's Digital 2.0 program citing incidents of outages in the bank's internet
banking, mobile banking and payment utility services.[35][36]

On 29 January 2020, RBI imposed a monetary penalty on HDFC Bank for failure to
undertake on-going due diligence in case of 39 current accounts opened for bidding
in the initial public offer.[37]

A HDFC bank manager was arrested on charges of fraud, involving a sum of

₹59.41 lakh, in Odisha.[38]

Altico Capital and Dubai's Mashreq Bank have approached RBI, accusing HDFC
Bank of violating regulatory provisions by debiting part of the funds the company
had raised through external commercial borrowing (ECB) and parked at the bank.
They claimed that HDFC bank's decision to transfer money from the account may
be a violation of the RBI's end-use rule.[39]

On 27 May 2021, RBI imposed a penalty of ₹10 crore on HDFC Bank for
deficiencies in regulatory compliances with regard to its auto loan portfolio. The
said penalty was imposed in regards to the contraventions of certain provisions of
the Banking Regulation Act, 1949.[40]

In March 2023, HDB Financial Services suffered a data exposing the data of more
than 70 million customers, including email addresses, names, dates of birth, phone
numbers, genders, post codes and loan information belonging to the customers.[41]
Awards and recognition
2016

Best Banking Performer, India in 2016 by Global Brands Magazine Award.[42]

Best Performing Branch in Microfinance among private sector banks by
NABARD, 2016, Award for Best Performance in Microfinance[43]
KPMG study of India's Best Banks, Bank of the year & best digital banking
initiative award 2016[44]
BrandZ Rankings, Most Valued brand in India for third successive year[45]
FinanceAsia poll on Asia's Best Companies 2015, Best managed public company
– India[46]
J. P. Morgan Quality Recognition Award, Best in class straight-through processing
rates[47]

2018

Company of the year: The Economic Times Corporate Excellence Awards

Best Performing Private Bank in Total Aadhaar Generation & Update: [[Aadhaar|
Aadhaar Excellence Awards]]
NPCI - National Payments Excellence Awards

2019

Best Bank: New Private Sector – FE Best Bank awards[48]

Winner in Innovation and Inclusiveness in Priority Sector Lending – 11th Inclusive
Finance India Awards (IFI) 2019[49]
Ranked 1st in 2019 BrandZ Top 75 Most Valuable Indian Brands HDFC Bank was
featured for the 6th consecutive year.[50]
 Among The Most Honored Company List, Institutional Investor All-Asia (ex-
Japan) Executive Team 2019 survey[51]
India’s Best Bank, Euromoney Awards for Excellence 2019[52]
Bank of the Year and Best Large Bank, Business Today – Money Today Financial
Awards 2019[53]
Best Bank in India 2019, by Global magazine FinanceAsia.[54]
Ranked 60th in 2019 BrandZ Top 100 Most Valuable Global Brands[55] HDFC
Bank was featured BrandZ Top 100 Most Valuable Global Brands 2019 for the
5th consecutive year. The Bank's brand value has gone up from $20.87 billion
in 2018 to $22.70 billion in 2019.
Best Large Bank & Fastest Growing Large Bank in 2019, by Business World
Magna Awards[56]
India's leading private sector bank: Dun & Bradstreet BFSI Awards

2020

Best Bank in India: Euromoney Awards[57]

Best Bank in India: FinanceAsia Country Awards

2021

Best bank in india: FinanceAsia Country Awards Best

bank for SMEs: Asiamoney best bank awards
Best bank in india:[[Euromoney#The Euromoney Awards for Excellence|The
Euromoney Awards for Excellence]]
Ranks No. 1 in Mass Affluent category:Euromoney Private Banking and Wealth
Management Survey[58]
On 12 January 2022 HDFC BANK has been adjudged ' Best Private Bank in
India' at the Global Private Banking Awards 2021, Organised by Professional
Wealth Management (PWM)
2022

Best Bank In India: Euromoney Awards for Excellence 2022[59]

Gallery
HDFC Bank branches and
ATMs

HDFC Bank HDFC Bank HDFC Bank HDFC Bank

Banjara Hills Temple Road Loves Square ATM in
Branch in Branch in Branch, Pune, Quepem, Goa
Hyderabad, Mysore, Maharashtra
Telangana Karnataka

more images can be found on wiki commons (https://commons.wikimedia.org/w/index.ph

See also
HDFC Life
Banks
Aditya Puri portal

Banking in India
List of banks in India
List of companies of India

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Further reading
Bandyopadhyay, Tamal (2013). A Bank for the Buck. Jaico Publishing House. p.
344. ISBN 978-8184953961.
Bandyopadhyay, Tamal (2019). HDFC Bank 2.0: From Dawn to Digital. Jaico
Publishing House. ISBN 9789388423359.

External links
Official website (https://www.hdfcbank.com) Wikimedia
Commons
Business data for HDFC Bank: SEC filings (https://www. has media
sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK related to
HDFC
=1144967) Bank.

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