About
HDFC Bank Limited was founded in 1994. It is an Indian banking and financial services company based in Mumbai, Maharashtra. It is one of the largest private sector banks with a base of 104154 permanent employees. HDFC Bank is also India’s largest private sector bank in terms of assets and the largest bank in India by market cap.
Listing and Revenue
HDFC Bank is listed on both BSE and NSE.
| Revenue | ₹ 1,16,600 crore |
| Operating Income | ₹ 23, 300 crore |
| Net Income | ₹ 21, 100 crore |
| Total Assets | ₹ 11,89,400 crore |
Products and Services
HDFC Bank provides a number of products and services including wholesale banking, retail banking, treasury, auto loans, two-wheeler loans, personal loans, loans against property, consumer durable loans, lifestyle loans, and credit cards.
It also offers various digital products including SmartBUY and Payzapp.
History
A subsidiary of the Housing Development Finance Corporation, HDFC Bank was set up in 1994, with its registered office in Mumbai, Maharashtra, India.
It opened its first corporate office and a full-service banking branch at Sandoz House, Worli. It was inaugurated by the then Union Finance Minister, Manmohan Singh.
Over the years, the bank's distribution network has risen to 5500 branches across 2,764 cities. The bank also operates 430,000 POS terminals.
Acquisitions
HDFC Bank acquired and merged with Times Bank in February 2000. IT was the first merger of two private banks in India in the New Generation private sector banks sector.
HDFC acquired Centurion Bank in 2008 and CBoP was bought for 95.1 billion INR.
Awards and Recognitions
Ranked 1st in 2019 BrandZ Top 75 Most Valuable Indian Brands HDFC Bank, Most Valued brand in India, best Large Bank & Fastest Growing Large Bank in 2019, by Business World Magna Awards. BrandZ Rankings, Bank of the year & best digital banking initiative award 2016.
Subsidiaries
HDFC Bank is the subsidiary of HDFC Limited. Its other subsidiaries include HDFC Standard Life Insurance Company Limited, HDFC Asset Management Company, HDFC ERGO General Insurance Company, GRUH Finance, HDFC Property Fund, HDFC RED, and HDFC Credila Financial Services.