International School of Business & Media

(Batch 2024-26)
Section: E

Finance Assignment-4

Submitted To: Dr. Manoj Sharma

Vishnu Malkan-MNP20242130
 About HDFC Bank
HDFC Ltd was founded in 1977, when the Late Shri. HT Parekh, Founder and Chairman of HDFC
Ltd, dreamt of millions of middle-class citizens of India owning a home and not having to wait till
their retirement. Pioneering India’s housing finance industry, the late Shri. Parekh, a Padma Bhushan
recipient, built HDFC Ltd on a strong foundation of integrity, transparency, and professionalism.
HDFC Bank is one of India’s leading private banks and was among the first to receive approval from
the Reserve Bank of India (RBI) to set up a private sector bank in 1994.
The Bank’s international operations comprises of four branches in Hong Kong, Bahrain, Dubai and an
IFSC Banking Unit (IBU) in Gujarat International Finance Tech City. It has five representative offices
in Kenya, Abu Dhabi, Dubai, London and Singapore. The Singapore and London offices
were representative offices of erstwhile HDFC Limited and became representative offices of the Bank
post the merger. These are for providing loans-related services for availing housing loans in India and
for the purchase of properties in India.
The Housing Development Finance Corporation Limited or HDFC Ltd was among the first financial
institutions in India to receive an “in principle” approval from the Reserve Bank of India (RBI) to set
up a bank in the private sector. This was done as part of RBI’s policy for liberalisation of the Indian
banking industry in 1994.
HDFC Bank was incorporated in August 1994 in the name of HDFC Bank Limited, with its registered
office in Mumbai, India. The bank commenced operations as a Scheduled Commercial Bank in
January 1995.

Vision, Mission And Values

HDFC Bank’s mission is to be a world class Indian bank. We have a two-fold objective: first, to be the
preferred provider of banking services for target retail and wholesale customer segments. The second
objective is to achieve healthy growth in profitability, consistent with the bank’s risk appetite.

The bank is committed to maintaining the highest level of ethical standards, professional integrity,
corporate governance and regulatory compliance. HDFC Bank’s business philosophy is based on five
core values: Operational Excellence, Customer Focus, Product Leadership, People and Sustainability.

Capital Structure
As on 31-March-2024, the authorized share capital of the Bank is ₹ 1190.61 crore. The paid-up share
capital of the Bank as on the said date is ₹ 7,59,69,10,662 comprising of 7,59,69,10,662 equity shares
of the face value of ₹ 1/- each. 13.54% of the equity is held by the ADS Depositories in respect of the
Bank's American Depository Shares (ADS). Further, 41.36% of the equity is held by Foreign
Institutional Investors (FIIs)/Foreign Portfolio Investors (FPI) and the Bank
has 41,21,815 shareholders.
The equity shares are listed on the BSE Limited (BSE) and The National Stock Exchange of India
Limited (NSE). The Bank's American Depository Shares (ADS) are listed on the New York Stock
Exchange (NYSE) with symbol 'HDB'.
 HDFC Board of Directors

Mr. Atanu Chakraborty Mr. Keki M. Mistry

Part Time Chairman Non-Executive Director

Mr. MD Ranganath Mr. Sandeep Parekh

Independent Director Independent Director

Dr. (Mrs.) Sunita Maheshwari Mrs. Lily Vadera

Independent Director Independent Director
Mrs. Renu Sud Karnad Dr. (Mr.) Harsh Kumar Bhanwala
Non-Executive Director Independent Director

Mr. Sashidhar Jagdishan Mr. Kaizad M Bharucha

MD and CEO Deputy Managing Director

Mr. Bhavesh Zaveri Mr. V. Srinivasa Rangan

Executive Director Executive Director
 History of HDFC Bank and Major Milestones
March 1995- HDFC Bank launched its first IPO of `500 million (50,000,000 equity shares at `10 each
at par). Despite much skepticism, the market lapped up the issue and we recorded 55 times
oversubscription. Within two months of this IPO issue, the Bank’s shares were quoted at 300 per cent
premium.
1997- Driven by the vision and leadership of its senior management and dedicated efforts of its
employees, the total balance sheet size of HDFC Bank crossed `10 billion in 1996. After a few years
of operations, the Bank declared a maiden dividend of 8% on equity shares at the end of the financial
year in March 1997.
1999- In a landmark deal, Times Bank was merged with HDFC Bank – it was the first friendly merger
in the banking industry and the first done through a share swap deal.
1999-HDFC Bank began its digital journey by launching its online, real-time NetBanking. And within
15 days of the launch over 1,000 customers had registered for the service.
1999-HDFC Bank launched its international debit card in November 1999, enabling account holders
to their access bank account from anywhere in the world. This was the first international debit card in
India that was launched in association with Visa International.
2000-Launched first SMS-based mobile banking; first bank in India to launch mobile banking
2001-Becomes first private bank to be authorised to collect income tax. HDFC Bank is now the
second largest income tax collector in India
2001-On July 20, 2001, HDFC Bank listed on the New York Stock Exchange after an initial public
offer of its American Depositary Shares (ADS) of US $172.5 million. Each ADS, representing three
underlying shares, was priced at $13.83. On the day of the ADS listing, the Bank’s shares closed at
`225 on the Bombay Stock Exchange.
2002-In 2002, HDFC Bank got ISO 9001 certification for its Depository and Custodial operations and
for its backend processing of retail operations and direct banking operations.
2004-By July 2004, HDFC Bank became the first bank in the country to offer credit cards in over 100
cities. It initially launched its offering in over 40 cities. These were cards in three categories – the
HDFC Bank international Silver credit card, international Gold credit card and the Health Plus
international credit card. The last one being India’s first credit card with free in-built cashless
mediclaim.
2006-Two new card products, exclusively for women – Woman’s Advantage Debit Card and
International Women’s Gold Visa Credit Card – were launched on International Women’s Day.
2008-HDFC Bank approved the acquisition of Centurion Bank of Punjab for `9,510 crore ($2.4
billion), in one of the largest mergers in the financial sector in India. The combined entity had a
nation-wide network of 1,148 branches, the largest in the private sector.
2008-The first full-fledged overseas commercial branch was opened at a new financial district in
Bahrain. The branch had a 25-member staff.
2010- Launched 40% faster ATMs allowing customisation for consumers.
2011-Market leadership in auto and personal loans, credit cards.
2013-HDFC’s Sustainable Livelihood Initiative, which helps empower women in rural India by giving
them direct access to livelihood finance, reaches out to over 20 lakh households.
2013-HDFC became the largest issuer of credit cards in the country – over 5.5 million outstanding
credit cards at the end of October 2014, according to Reserve Bank of India data.
2014-Introduced the missed call banking service, allowing customers to use banking services without
having to visit the Bank or connect online. Within a few weeks, a little more than a million customers
started using this service.
2014-Mobile/Netbanking have the largest number of transactions on offer (135+), 75 of which were
available on Mobile Banking, thanks to the Go Digital Initiative.
2015-With about 55 percent of all transactions being conducted via digital channels, HDFC logged
`3,540 crore worth of transactions or a total `8,403 worth of digital banking transactions.
2015-HDFC’s $324 million share offering was more than 4 times oversubscribed in India.
2015-The 10-second loan approval service made HDFC the first in the retail lending space to fully
automate the process of loan approval and disbursement, making the service ‘real time’, like having a
real cheque in one’s virtual wallet.
2015-HDFC launched the first-of-its-kind services, Chillr and PayZapp, as part of its ‘Go Digital’
campaign. Chillr allowed customers to send and receive instant money on their mobiles while
PayZapp makes every form of shopping and payment convenient.
2016- HDFC launched the first-of-its-kind service – Missed Call Mobile Recharge – to enable
customers to recharge their pre-paid mobile numbers by giving a missed call, without having to visit a
shop, log onto a website or open an app.
2016-HDFC introduced Loans at ATMs as the country’s first innovation to turn ATMs into Loan
Dispensing Machines (LDMs), further extending the functionality of the Bank’s ATMs. Customers
can get the loan amount credited directly into their account within seconds by completing four simple
steps.
2016-HDFC stayed at the top of the heap with 7.28 million cards, and a 22 per cent growth over the
previous year, as per RBI data. HDFC Bank’s card base is equal to the combined card base of the
second and third-largest card issuers – ICICI Bank and SBI Cards
2017-The first-of-its-kind interactive humanoid IRA was launched by HDFC under the ‘Project AI’.
IRA, which stands for Intelligence Robotic Assistant, combines robotics and AI to provide enhanced
customer assistance.
2017-India’s first AI-based chatbot for customer service, EVA, can handle millions of customer
queries across multiple channels in real time. It removes the need to search, browse or call and
becomes smarter as it learns through customer transactions.
2017-The Digital Loans Against Securities (Digital LAS) service, the first of its kind, was launched. A
100 per cent online process, the service allows customers to design their loan against shares at their
convenience.
2017-HDFC became the first bank to introduce a DigiPOS machine on August 22, 2017. It offers the
complete suite of digital payment options on a Point of Sale machine - Unified Payment Interface
(UPI), Bharat QR, SMS Pay and PayZapp, along with the facility to pay by debit and credit cards. The
Bank aims to convert the existing network of over 4 lac PoS machines to be digtally enabled.
2017- Strengthening customer experience through a state-of-the-art tool HDFC Bank launched an in-
house Digital Command Centre (DCC) on August 10, 2017. The Centre has been set up to listen to
customer conversations on social media and thereby acquire valuable insights on the brand.
2017-HDFC launched SmartUp zones at branches to offer tailor-made banking and advisory solutions
to entrepreneurs. Start-ups can also tap into the knowledge and experience of a complete network of
start-ups on the portal.
2017-HDFC ranked among the top 5 companies that have shaped Asia, and the World by
Forbes magazine. HDFC was also listed #13 on the prestigious Forbes Asia Fabulous 50 list of
companies.
2018-The Zero Investment Innovations for Education Initiatives or ZIIEI is the largest education
initiative of its kind in India, and possibly the world. It will train 15 lac school teachers across 12
Indian states, thereby touching the lives of 8.3 crore students in 6.2 lakh government schools.
2018-For the fourth time in a row, HDFC won the title of ‘India’s Most Valuable Brand’ in the
BrandZ survey of Top 50 Most Valuable Indian Brands. HDFC’s brand value has grown to
$17.9 billion in 2017 from $14.4 billion in 2016.
2018-HDFC Bank has been awarded the ‘Fastest Growing Large Bank’ and the ‘Best Bank’
awards by Businessworld’s India’s Best Banks Survey 2016. HDFC is also the proud winner of
Dun & Bradstreet’s ‘Corporate Award 2017’ in the banking sector; and Asiamoney’s Best
Brands in Finance Poll 2017 has declared HDFC to be the ‘Best Banking Brand’
2018-Mr Aditya Puri’s was conferred the Magna Lifetime Achievement Award at the 10th
Businessworld-PwC Best Banks’ (2017) survey, in recognition of his contribution to the banking
industry
2018-In a landmark initiative, our Bank will offer its world-class financial experience (products and
services) in close to 2 lakh villages with the help of CSC’s 3 lakh village-level entrepreneurs. CSC e-
Governance Services India is a Special Purpose Vehicle (CSC SPV) incorporated under the
Companies Act, 1956. It provides a centralised a collaborative framework for delivery of services to
citizens through Common Services Centres.
2018-HDFC launched the Accelerator Engagement Program (AEP) under the Bank’s Centre of Digital
Excellence (CODE). In this first-of-its-kind programme, the Bank will partner with leading start-up
accelerators from across the world to gain early access to potential fin-tech ideas and innovative
solutions.
2018-Offering a simple, intuitive navigation the app incorporates features such as biometric log-in for
enhanced security and access. Customers can view a dashboard that offers a 360-degree financial
snapshot of all assets and liabilities with the 120+ transactions.
2019-Mr Aditya Puri, MD, has been conferred the AIMA-JRD Tata Corporate Leadership
Award for the Year 2018. Administered by AIMA, the JRD Tata Corporate Leadership Award is
conferred annually on distinguished and eminent personalities, who have made outstanding
contribution in the corporate world and professional management.
2019-HDFC Bank was adjudged the ‘Best Digital Bank’ in India at the Asiamoney Best Bank
Awards 2019, on the basis of its best-in-class digital banking initiatives.
2019-HDFC Bank was been ranked No 1 in India by customers in Forbes World’s Best Banks
survey. The survey was conducted across 23 countries and 40,000 customers.
2019-Our Bank joined hands with Bombay Stock Exchange to encourage more start-ups to get listed.
Through the MoU, the Bank will help strengthen the BSE Startups platform, and encourage
entrepreneurs to get listed and raise equity capital.
2019-Mr Puri was honoured for his corporate and philanthropic leadership by the American
Indian Foundation’s (AIF) at their Annual New York Gala. He was recognised for
transformative initiatives undertaken by HDFC Bank through Parivartan under his leadership.
2019-The Integrated Performance report shares a holistic picture of the value created for all the
Bank’s stakeholders. It is in line with the guidelines issued by the International Integrated Reporting
Council (IIRC) and measures the value created on the basis of six capitals: Financial, Manufacturing,
Intellectual, Human, Social & Relationship, and Natural.
2019-To encourage innovation in the fintech sector, HDFC held the first-of-itskind event in the
country where 24 shortlisted participants presented their solutions out of over 100+ entries. Through
the Summit, the Bank aims to create the latest banking facilities for its customers.
2019-The myApps suite of products is a part of the Bank’s strategy to provide value beyond basic
banking services and tap into the B2B2C space. This will enable urban local bodies, housing societies,
clubs or gymkhanas, and even religious institutions to have their digital platform.
2019-The Bank was adjudged India’s top bank at the publication’s Country Awards for
Achievement 2019 for “maintaining an impressive growth trajectory and strong asset quality.”
FinanceAsia’s annual Country Awards for Achievement recognises outperforming banks from
countries in the Asia Pacific region.
2019-HDFC Bank was ranked among the top 3 in all 4 categories i.e. Best CEO, CFO, IR
professional, and IR Company by Institutional Investor AllAsia Executive Team rankings 2019,
that has close to 2,500 analysts and investment professionals. A total of 1,611 companies from 18
sectors across Asia were nominated this year.
2018-HDFC Bank was honoured by the Ministry of Corporate Affairs at the 1st National
Corporate Social Responsibility (CSR) Awards. HDFC Bank received an Honourable Mention
for its contribution to the National Priority Schemes in Agriculture and Rural Development
categories. Out of 528 companies that participated, the jury finalized 19 winners and 19
honourable mentions across the three award categories.
2019-HDFC Bank received the title at the 2nd SIDBI-ET India MSE Awards 2019 for its strong
MSME portfolio with advances to this segment standing at over `1.25 lakh crore as of March 31,
2019.
2019-Leading global financial magazine FinanceAsia voted HDFC Bank as the Best Managed
Company in India in the poll conducted amongst investors and analysts. The Bank also ranked
1st in best Corporate Governance and 2nd in environmental stewardship. Mr Aditya Puri was
voted as the ‘Best CEO’.
2019-The ‘2020 BrandZ™ Top 75 Most Valuable Indian Brands’ survey ranked our Bank as
India’s No 1 brand for 7th time in a row. HDFC’s brand value also grew from $9.4 billion in
2014 to $20.3 billion in 2020 in the past 7 years
2020-HDFC was one of only four mega companies to earn the ‘Great Place to Work for 2020’
certification. An anonymous employee survey was conducted on five key parameters by a third-
party global authority. This recognition acknowledges their commitment towards fostering a
culture of camaraderie, fairness, respect, pride, and credibility amongst its employees.
2020-HDFC was recognised as the ‘Best Bank in India’ at the FinanceAsia, Euromoney Awards
and Asiamoney Best Bank Awards 2020 based on our all-round performance across businesses.
The recognitions reflect our impeccable credentials, strong financials and corporate governance
even amid the pandemic.
2020-HDFC Bank, in collaboration with Apollo Hospitals, launched The HealthyLife Programme. A
holistic healthcare solution, it enables the customers to get round the clock access to emergency
Apollo Doctor at no cost and a host of other benefits on Apollo 24|7 - Apollo’s digital platform.
2020-Video KYC allows prospective customers to open a full KYC allbenefit account quickly through
an online and secure journey. The Video KYC facility was deployed for Savings and Corporate Salary
accounts and Personal Loans and will be rolled out for other products in a phased manner.
2020-On the eve of India’s 74th Independence Day, HDFC Bank launched the Shaurya KGC card for
our over 45 lakh Indian armed forces personnel. Key benefits include life cover of `10 lakh as against
`2 lakh for an average card, and simple documentation that doesn’t require physical presence.
2020-In an industry first, HDFC Bank launched a Warehouse Commodity Finance app that will
greatly benefit agri processors, traders and farmers. It will enable customers to draw down and
manage the loan against pledge of commodities online without physical intervention or multiple visits
to a Bank branch
2020-The Reserve Bank of India approved the appointment of Mr Jagdishan as Managing Director &
CEO of HDFC Bank. The appointment was for a period of three years beginning October 27, 2020.
2021-As a one-stop solution for knowledge and information on agricultural practices and to address
the needs of the rural ecosystem HDFC Bank launched the ‘e-Kisaan Dhan’ app. The app gives users
access to a bouquet of agricultural and banking services on their mobile.
2021-HDFC Bank in partnership with Mastercard, U.S. International Development Finance
Corporation (DFC), and U.S. Agency for International Development (USAID) launched a $100
million credit facility to promote and encourage small businesses in India. The credit facility extended
working capital loans to small businesses, particularly those that are women-owned, that need
financing to support their digitisation and recovery from the effects of the pandemic.
2021-HDFC Bank integrated with the Government of India’s National Agriculture Market (eNAM) to
enable digital collections and settlement of funds to various e-NAM beneficiaries. Additionally,
HDFC partnered with the SFAC to further improve the ease of doing business on e-NAM platform by
offering multiple collection modes through integration with eNAM.
2021-HDFC Bank partnered with India Post Payments Bank Partners for Banking Products &
Services in Semi-Urban and Rural Areas. This alliance gives over 4.7 crore IPPB customers access to
HDFC Bank’s products and services. It also allows HDFC to leverage IPPB’s network of 650
branches and over 136,000 Banking Access Points to expand its outreach to customers in semi-urban
and rural locations.
2021-HDFC launched PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) with Common
Service Centres (CSC) - a special micro-credit facility for street vendors. The initiative was aimed at
providing a collateralfree affordable loan of Rs 10,000 with an interest subsidy of 7% to Village Level
Entrepreneurs (VLEs) to help them resume their businesses and boost the business cycle.
2021-HDFC partnered with Paytm to launch a comprehensive range of credit cards powered by VISA.
In a first-of-its-kind alliance, the partnership aimed to provide a wide range of offerings across
customer segments, with a special focus on millennials, business owners and merchants. The
partnership aimed at delivering superior value and experience to customers by leveraging off each
other’s strengths.
2021-HDFC was adjudged Best Private Bank in India at the Global Private Banking Awards
2021, organised by Professional Wealth Management (PWM). PWM specialises in analysing the
growth strategies of private banks and the regional financial centres in which they operate. For
the Global Private Banking Awards 2021, PWM received over 120 submissions which were
reviewed by a panel of 16 judges from four continents.
2022- As part of its project, ‘Future Ready’, HDFC added over 1,000 branches to its network over the
past two years. During the pandemic, the Bank opened two new branches every day, and 734 branches
were opened in FY2022 alone. The Bank also set a new record of ‘Maximum Bank Branches
Simultaneously Inaugurated Pan India’ on 31 March 2022 by digitally launching 250 branches.
2022-In September, HDFC Bank launched ‘Xpress Car Loans’ – an end-to-end digital new car loan
journey for existing customers as well as non-customers. The Bank has integrated its lending
application with automobile dealers across the country. This industry-first facility revolutionised car
financing.
2023-In February, HDFC Bank partnered with Crunchfish as part of a pilot project to test offline
digital payments for merchants and customers under the RBI’s Regulatory Sandbox Program, known
as ‘OfflinePay’. ‘OfflinePay’ will enable customers and merchants to make and receive payments
even when there is no mobile network.
2023-In February, HDFC signed a MoU with LuLu Exchange to boost cross-border payments
between India and the Gulf Cooperation Council (GCC) region. This partnership will enable
remittances to India through HDFC’s online and mobile banking powered by LuLu Exchange. The
alliance will also launch ‘RemitNow2India’ service for quick money transfer from UAE to India.
2023-Indian Railway Catering and Tourism Corporation Ltd (IRCTC), the public sector undertaking
under the Ministry of Railways, and HDFC partnered to launch one of India’s most rewarding co-
branded travel credit cards, in March. The card will provide exclusive benefits and maximum savings
on bookings of train tickets booked through the IRCTC’s ticketing website and through IRCTC Rail
Connect app
2023-In March, HDFC Bank in partnership with Flipkart Wholesale launched an industry-first co-
branded credit card exclusively for Flipkart Wholesale members. As part of this collaboration,
registered members of Flipkart Wholesale will be able to avail of 5% cashback on Flipkart Wholesale
online spends, along with INR 1,500 worth of activation cashback, zero joining fee, and additional
cashback on utility bills and other expenses.
2023-In April, the Reserve Bank of India (RBI) approved the appointment of Mr Kaizad
Bharucha as the Deputy Managing Director, and Mr Bhavesh Zaveri as Executive Director of
our Bank for a period of three years, with effect from April 19, 2023.

Mergers and Acquisitions

 In February 2000, Times Bank merged with HDFC Bank, which was India's first-ever
voluntary merger of banks. Times Bank was established by India's largest media
conglomerate, The Times Group.
 In 2008, HDFC Bank acquired the Centurion Bank of Punjab (CBoP) for ₹9,510 crore
(US$2.19 billion) in a share-swap deal, reportedly the largest acquisition in the Indian
financial sector at the time.
 In 2021, the bank acquired a 9.99% stake in Ferbine, an entity promoted by Tata Group, to
operate a pan-India umbrella entity for retail payment systems, similar to the National
Payments Corporation of India.
 HDFC Bank-HDFC Ltd Merger:
 On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking
India's largest-ever M&A deal. As part of the merger, HDFC Ltd would transfer its home loan
portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either
withdrawing their money or renewing their deposits with the bank at the interest rate that the
bank was then offering.
On 1 July 2023, the merger of HDFC Ltd with HDFC Bank was completed.[27][28]
Consequently, HDFC Bank had a market capitalisation of $154 billion, becoming the seventh
most valuable bank in the world. HDFC Bank also became one of the world's top 100 banking
companies by total assets.[29][30]

The combined entity had a customer base of 120 million. The merger resulted in a substantial
increase in bank headcount, with the workforce totaling 177,000 employees. The merged
entity became the second-largest bank in India, trailing only the State Bank of India in terms
of assets. The number of branches increased to 8,300 in India. Shares of HDFC Ltd were
delisted and shareholders were allotted 42 shares of HDFC Bank for every 25 shares of
HDFC Ltd held, leading to an increase in the equity capital of HDFC Bank.

Subsidiaries and Associates

Name Type Ownership stake

HDFC Life Life insurance 50.37%

HDFC ERGO General insurance 50.48%

HDFC Asset Management Company Mutual funds 52.55%

HDFC Securities Stockbroking 95.48%

HDB Financial Services Consumer finance 94.84%

HDFC Capital Advisors Private equity real estate 90%

HDFC Credila Education finance 9.99%

Shareholding Pattern
Shareholders List:

Name Equities % Valuation

7 927 M
SBI Funds Management Ltd. 383,537,867 5.028 %
₹

7 134 M
Life Insurance Corporation of India (Investment Portfolio) 345,186,205 4.525 %
₹

3 764 M
HDFC Asset Management Co. Ltd. (Investment Management) 182,109,538 2.387 %
₹

2 980 M
UTI Asset Management Co. Ltd. (Investment Management) 144,197,939 1.890 %
₹

2 858 M
GIC Pte Ltd. (Investment Management) 138,270,508 1.813 %
₹

Nippon Life India Asset Management Ltd. (Investment 2 522 M

122,031,547 1.600 %
Management) ₹

2 139 M
Norges Bank Investment Management 103,510,241 1.357 %
₹

1 611 M
The Vanguard Group, Inc. 77,935,859 1.022 %
₹

0.9106 1 436 M
Kotak Mahindra Asset Management Co. Ltd. 69,464,156
% ₹

0.8296 1 308 M
ICICI Prudential Life Insurance Co. Ltd. (Investment Port) 63,290,881
% ₹
 Headquarters and Number of Branches and ATMs
Headquarters- Mumbai, Maharashtra
Number of Branches and ATMs:
As of September 30, 2024, the Bank’s distribution network was at 9,092 branches and 20,993 ATMs
across 4,088 cities / towns as against 7,945 branches and 20,596 ATMs across 3,836 cities / towns as
of September 30, 2023. 51% of our branches are in semiurban and rural areas. The Bank’s
international operations comprises four branches in Hong Kong, Bahrain, Dubai and an IFSC Banking
Unit (IBU) in Gujarat International Finance Tech City. It has five representative offices in Kenya, Abu
Dhabi, Dubai, London and Singapore. The Singapore and London offices were representative offices
of erstwhile HDFC Limited and became representative offices of the Bank post the merger.

Revenue over the past years

Net Interest Margin

Gross and Net NPA
 Market Performance

Competitive Landscape
Rank
4th Among 170 active Competitors
Active Competitors
170: 1 Funded / 50 Exited / 44 Public / 6 Acquired
Funding of competitors of HDFC Bank
$694M

Top Competitors:
 Bandhan Bank
 ICICI Bank
 Axis Bank
 Kotak Mahindra Bank
 UniCredit Bank
 IDFC Bank
 Yes Bank
 Bank of America
 IndusLnd Bank
 Citi Bank
 Fino Payments Bank
 Catholic Syrian Bank

The newest competitors of HDFC Bank are Nict Technologies, SecureInd Nidhi
and Northern National Bank.