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    History: Maharashtra Fifteenth Largest Employer in India

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    HDFC Bank Limited is India's largest private sector bank and third largest company by market capitalization. It was incorporated in 1994 as a subsidiary of Housing Development Finance Corporation. HDFC Bank provides a variety of banking products and services including retail banking, loans, credit cards, and digital products. It has acquired other banks like Times Bank and Centurion Bank of Punjab to expand its operations and footprint across India.

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    History: Maharashtra Fifteenth Largest Employer in India

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    roma
    67 views2 pages
    HDFC Bank Limited is India's largest private sector bank and third largest company by market capitalization. It was incorporated in 1994 as a subsidiary of Housing Development Finance Corporation. HDFC Bank provides a variety of banking products and services including retail banking, loans, credit cards, and digital products. It has acquired other banks like Times Bank and Centurion Bank of Punjab to expand its operations and footprint across India.

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    ABOUT HDFC

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    HDFC Bank Limited

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    HDFC Bank Limited is India's largest private sector bank and third largest company by market capitalization. It was incorporated in 1994 as a subsidiary of Housing Development Finance Corporation. HDFC Bank provides a variety of banking products and services including retail banking, loans, credit cards, and digital products. It has acquired other banks like Times Bank and Centurion Bank of Punjab to expand its operations and footprint across India.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    67 views2 pages

    History: Maharashtra Fifteenth Largest Employer in India

    Uploaded by

    roma
    HDFC Bank Limited is India's largest private sector bank and third largest company by market capitalization. It was incorporated in 1994 as a subsidiary of Housing Development Finance Corporation. HDFC Bank provides a variety of banking products and services including retail banking, loans, credit cards, and digital products. It has acquired other banks like Times Bank and Centurion Bank of Punjab to expand its operations and footprint across India.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    HDFC Bank Limited 

    is an Indian banking and financial services company, headquartered


    in Mumbai, Maharashtra. HDFC Bank is India's largest private sector bank by assets[12] and
    by market capitalisation as of April 2021. It is the third largest company by market
    capitalisation of $122.50 billion on the Indian stock exchanges.[13] It is also the fifteenth
    largest employer in India with nearly 120,000 employees.[14]

    History[edit]
    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 30 June 2019, the Bank's distribution network was at 5,500 branches across 2,764 cities. The bank also
    installed 430,000 POS terminals and issued 23,570,000 debit cards and 12 million credit cards in FY 2017.[15] It has a
    base of 1,16,971 permanent employees as of 21 March 2020.[16]

    Products and services[edit]


    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 loan, lifestyle loan and credit
    cards. Along with this various digital products are Payzapp and SmartBUY.[17]

    Mergers and acquisitions[edit]


    HDFC Bank merged with Times Bank in February 2000. This was the first merger of two private banks in the New
    Generation private sector banks category.[18] Times Bank was established by Bennett, Coleman and Co. Ltd.,
    commonly known as The Times Group, India's largest media conglomerate.[19]
    In 2008, Centurion Bank of Punjab (CBoP) was acquired by HDFC Bank. HDFC Bank's board approved the
    acquisition of CBoP for ₹95.1 billion in one of the largest mergers in the financial sector in India.[20]
    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 National Payments Corporation of India.[21]
    In September 2021, the bank partnered with Paytm to launch a range of credit cards powered by the global card
    network Visa.[22]

    Investments
    In March 2020, HDFC (parent company of HDFC BANK) made an investment of ₹1,000
    crores in Yes Bank.[23] As per the scheme of reconstruction of Yes Bank, 75% of the total
    investment by the corporation would be locked in for three years. On 14 March, Yes Bank
    allotted 100 crore shares of the face value of ₹2 each for consideration of ₹10 per share
    (including ₹8 premium) to the Corporation aggregating to 7.97 percent of the post issue
    equity share capital of Yes bank.[24]

    Listings and shareholding[edit]


    The equity shares of HDFC Bank are listed on the Bombay Stock Exchange and
    the National Stock Exchange of India. Its American depositary receipts are listed on
    the NYSE issued through JP Morgan Chase Bank.[25]
    Its global depository receipts (GDRs) was listed on the Luxembourg Stock Exchange[26] but
    was terminated by board of directors following its low trading volume.[27]

    Shareholders (as of 30 September 2021)[28] Shareholding[26]

    Promoter group (HDFC) 25.88%

    Foreign institutional investor(FII) 38.30%

    Individual shareholders 13.25%

    Qualified institutional buyer 4.74%

    Insurance companies 2.94%

    Unit Trust of India/mutual funds 14.57%

    Financial institutions/banks 0.4%

    Corporate social responsibility[edit]


    This section needs
    expansion. You can help
    by adding to it. (December
    2020)

    Parivartan is the umbrella term for all of the corporate social responsibility initiatives by
    HDFC Bank
    HDFC Bank's Parivartan initiative spent ₹535 crore in FY 2019–20.[29]
    HDFC Bank spent Rs 634.91 crore towards Parivartan,in FY 2020-21. Out of Rs 634.9
    crore, over Rs 110 crore was allocated and utilised towards initiatives focused on Covid-19
    relief.[30]
    HDFC Bank pledges to become carbon neutral by 2032[30]

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