HDFC Bank Limited offers various banking and financial services to individual customers and corporate businesses in India, Dubai, Bahrain, and Hong Kong. Its core businesses are mainly
HDFC Bank Limited was founded in the year 1994, and it is based in Mumbai, India. The company offers savings, salary, current, and Demat accounts; safe deposit lockers, and rural and pension accounts, overdrafts against fixed deposits and wages, as well as offshore accounts and deposits, and sweep-in facilities; fixed and recurring deposits. It also gives personal, home, business, educational, gold, car, two-wheeler, three-wheeler, rural, and term loans; loans against properties, assets, and securities; and loans on credit card, as well as working capital and commercial/construction equipment finance, healthcare/medical equipment and commercial vehicle finance, and dealer finance; loans for professionals; government-sponsored programs.
Also, the company offers credit, forex cards, debit, and prepaid; forex, payment and collection, export, import, remittance, premier and private banking, bank guarantee, letter of credit, loan syndication, and merchant and cash management services; and insurance and investment products. Moreover, it provides short term finance, export credit, documents collection, bill discounting, structured finance, Internet and wholesale banking, mobile banking, real-time gross settlement, reimbursement account, channel financing, vendor financing, money market, derivatives, employee trusts, as well as financial solutions for supply chain partners and agricultural customers, tax payment, cash surplus corporates, and bankers to rights/public issue services. As of April 8, 2019, the Bank has 5,000 branches and 13,160 automated teller machines in India.
About Company Information:
In the year 1995, HDFC Bank was listed on the Bombay Stock Exchange and National Stock Exchange. During1996, the Bank was elected as the clearing bank by the NSCCL. The Bank launched retail investment advisory services in 1997. In 1998, they started their first retail lending merchandise, Loans against Shares. In the year 1999, they began online, NetBanking.
The Times Bank Ltd which is owned by Bennett, Coleman & Co. / Times Group merged with the HDFC Bank Ltd in February 2000. This was the first amalgamation of two new-generation private banks in India. This Bank was the first Bank to launch an International Debit Card in partnership with VISA (Visa Electron).
The Bank started its first credit card business in 2001. Also, they were the first private sector bank to be approved by the RBI as well as the Central Board of Direct Taxes (CBDT) to accept direct taxes. On July 20 2001, HDFC Banks American depositary receipt (ADR) was listed on the New York Stock Exchange under the symbol HDB. Also, they made a partnership with LIC to pay the customer's insurance premium through an online payment. The Bank increased the number of branches to 231 Nos and their Banks ATM network expanded from 479 Nos to 732 Nos, during the year 2002-2003. Throughout the year 2003-04, the Bank again grew its distribution network by increasing the branches to 312 nos and the ATMs were increased to 910 nos.
In September 2003, the Bank entered the housing loan business through an agreement with HDFC Ltd, whereby they sell HDFC Home Loan product. During the year 2005-06, the Bank started the no-frills account; basic savings account offering to the customer.
During the year 2008-09, the Bank expanded its distribution network to 1,412 branches in 528 Indian cities. The Banks ATMs increased to 3,295 during the year. As per the scheme of merging, On May 23 2008, Centurion Bank of Punjab Ltd was amalgamated with HDFC Bank. The appointed date for the alliance was April 01, 2008. The merge added a significant advantage to HDFC Bank in terms of increased geographic reach, branch network, and customer base, and a bigger pool of proficient workforce. In October 2008, the Bank opened its first abroad commercial branch in Bahrain. In 2016, HDFC Bank established loans at ATMs as the country's first innovation to turn ATMs into Loan Dispensing Machines (LDMs), besides extending the functionality of the Banks ATMs.
The HDFC Bank Equity Shares/stocks are listed on the National Stock Exchange of India Limited (the "NSE") and BSE Limited (the "BSE", together with the NSE, the "Stock Exchanges").
The Key Dates to be noted for HDFC Bank is:
March - The Year Ending Month
July - The AGM Date (Month)
July - Book Closure Date (Month)
As of June 2019 - HDFC Bank Ltd, Management Team:
Shyamala Gopinath - Chairperson
Kaizad Bharucha - Executive Director
Srikanth Nadhamuni - Non-Executive Director
Sanjiv Sachar - Independent Director
Umesh Chandra Sarangi - Independent Director
Aditya Puri - Managing Director
Keki Mistry - Non-Executive Director
Sandeep Parekh - Independent Director
M D Ranganath - Independent Director
Malay Patel - Independent Director
How HDFC Bank Ltd, is categorised as Banks Sector, and Finance Industry :
The Financial Industry is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
The main sectors that are into the Financial industry are,
Accounting and Bookkeeping.
Financial Markets and Planning.
Banking and General Financial Services.
Mortgage and Financial Broking.
Insurance and Superannuation.
Specialised Financial Services.
HDFC Bank Ltd comes under the Banking sector. The banking industry is one of the active areas in India, which makes a significant portion of the growth of a country’s GDP. The banking industry in India is of great importance in Asia and also throughout the World because of its steady performance in the market.
HDFC Bank Ltd, Competitors and Sector Peers:
Bandhan Bank Ltd. - BANBAN
Bank of Rajasthan Ltd.[Merged] - BANOFR
Centurion Bank of Punjab Ltd.[Merged] - CENTUB
City Union Bank Ltd. - CITUNI
Dhanlaxmi Bank Ltd. - DHABAN
Federal Bank Ltd. - FEDBAN
IDFC First Bank Ltd. - IDFCB
IndusInd Bank Ltd. - INDUBA
ING Vysya Bank Ltd.[Merged] - INGVYS
Jammu & Kashmir Bank Ltd. - JAMKA
Karnataka Bank Ltd. - KARBAN
Karur Vysya Bank Ltd. - KARVYS
Kotak Mahindra Bank Ltd. - KOTAMA
Lakshmi Vilas Bank Ltd. - LAKVIL
South Indian Bank Ltd. - SOUINB
HDFC Bank Ltd, Contact Information:
Senapati Bapat Marg Lower Parel Mumbai, India - 400 013