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HDFC Bank: Navigation Search
HDFC Bank: Navigation Search
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HDFC Bank Limited
Typ
Public
BSE: 500180 Traded as NSE: HDFCBANK NYSE: HDB BSE SENSEX Constituent
Industrie
Gegründet
August 1994
Hauptsitz
Area served
Worldwide
Key people
Credit cards, consumer banking, corporate banking, finance and insurance, Products investment banking, mortgage loans, private banking, private equity, wealth management[1] US$ 6.487 billion (2012)[2]
Revenue
Operating income
Profit
US$ 978.3 million (2012)[2] US$ 70.17 billion (2012)[2] US$ 7.793 billion (2012)[2] 66,076 (2012)[2]
Total assets
Total equity
Employees
Website
HDFCBank.com
HDFC Bank Limited (BSE: 500180, NSE: HDFCBANK, NYSE: HDB) is an Indian financial services company based in Mumbai, Maharashtra that was incorporated in August 1994. HDFC Bank is the fifth or sixth largest bank in India by assets and the first largest bank by market capitalization as of November 1, 2012. The bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India. As on December 2012, HDFC Bank has 2,776 branches and 10,490 ATMs, in 1,399 cities in India, and all branches of the bank are linked on an online real-time basis. As of December 2012 the bank had balance sheet size of Rs. 3837 billion. For the fiscal year 2011-12, the bank has reported net profit of 5167.07 crore (US$950 million), up 31.6% from the previous fiscal. On March 14, 2013 an online magazine named Cobrapost.com released video footage from Operation Red Spider showing high ranking officials and some employees of HDFC bank willing to turn black money into white which is violation of Money Laundering Control Act. After this The government of India and Reserve Bank of India have ordered an inquiry.[3][4][5]
Contents
[hide]
1 History o 1.1 Business focus o 1.2 Wholesale banking services o 1.3 Retail banking services o 1.4 Treasury o 1.5 Distribution network 2 See also 3 References 4 External links
History [edit]
HDFC Bank was incorporated in 1994 by Housing Development Finance Corporation Limited (HDFC), India's largest housing finance company. It was among the first companies to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. The Bank started operations as a scheduled commercial bank in January 1995 under the RBI's liberalisation policies. Times Bank Limited (owned by Bennett, Coleman & Co./The Times Group) was merged with HDFC Bank Ltd., in 2000. This was the first merger of two private banks in India. Shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. In 2008 HDFC Bank acquired Centurion Bank of Punjab taking its total branches to more than 1,000. The amalgamated bank emerged with a base of about Rs. 1,22,000 crore and net advances of about Rs.89,000 crore. The balance sheet size of the combined entity is more than Rs. 1,63,000 crore.[citation needed]
transactional services, cash management, etc. The bank is also a leading provider of the above services to its corporate customers, mutual funds, stock exchange members and banks.
Treasury [edit]
Within this business, the bank has three main product areas - Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities. These services are provided through the bank's Treasury team. To comply with statutory reserve requirements, the bank is required to hold 25% of its deposits in government securities. The Treasury business is responsible for managing the returns and market risk on this investment portfolio.
An HDFC Bank Branch HDFC Bank is headquartered in Mumbai and as of March 31, 2012, the Banks distribution network was at 2,544 branches and 8,913 ATMs in 1,399 cities as against 1,986 branches and 10000 ATMs in 996 cities as of october,2012.