Who We Are
India’s leading private bank
About HDFC Bank
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.
On April 4, 2022 the merger of India’s largest Housing Finance Company, HDFC Limited and the largest private sector bank in India, HDFC Bank was announced. HDFC Ltd, over the last 45 years has developed one of the best product offerings making it a leader in the housing finance business. HDFC Bank enables seamless delivery of home loans as a part of its wide product suite catering to urban, semi urban and rural India.
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. These are for providing loans-related services for availing housing loans in India and for the purchase of properties in India.
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The HDFC Legacy
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. Taking the legacy further Mr. Deepak Parekh, Chairman HDFC Ltd. and a Padma Bhushan awardee, not only made HDFC the leader in Mortgages, but also transformed it into India's leading Financial Services conglomerate with a presence in Banking, Asset Management, Life Insurance, General Insurance, Real Estate Venture Fund, Education Loans and Education.
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CSR
HDFC Bank Parivartan. A Step Towards Progress.
Parivartan, HDFC Bank’s social initiative has been a catalyst in transforming the lives of millions of people in India. It aims to contribute towards the economic and social development of the country by sustainably empowering its communities. Its wide range of interventions spanning across different social causes, has brought about the desired change in the remotest parts of the country. Parivartan has uplifted rural lives, create water structures, revolutionised education, supported social start-ups and opened pathways towards financial independence through sustainable livelihood initiatives. With a lot already done, the bank continues to bring about the change keeping with its philosophy of Sustainability and Innovation. Under Parivartan, we work in the following focus areas:
1. Rural Development
2. Promotion of Education
3. Skill Training & Livelihood Enhancement
4. Healthcare and Hygiene
5. Financial Literacy and Inclusion
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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.
Excellence
Customer Focus
Product Leadership
People
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'.
CBoP & Times Bank Amalgamation
On May 23, 2008, the amalgamation of Centurion Bank of Punjab (CBoP) with HDFC Bank was formally approved by Reserve Bank of India to complete the statutory and regulatory approval process. As per the scheme of amalgamation, shareholders of CBoP received one share of HDFC Bank for every 29 shares of CBoP.
The amalgamation added significant value to HDFC Bank with an increased branch network, geographic reach, customer base, and a larger pool of skilled manpower.
In a milestone transaction in the Indian banking industry, Times Bank Limited (a new private sector bank promoted by Bennett, Coleman & Co. or Times Group) was merged with HDFC Bank Ltd., effective February 26, 2000. This was the first merger of two private banks in the new generation private sector banks. As per the scheme of amalgamation approved by the shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received one share of HDFC Bank for every 5.75 shares of Times Bank.
Distribution Network
HDFC Bank is headquartered in Mumbai. 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. HDFC Ltd.’s Customers across India are serviced through multiple delivery channels such as Phone Banking, Net Banking, Mobile Banking, and SMS based banking. The Bank's expansion plans take into account the need to have a presence in all major industrial and commercial centres, where its corporate customers are located, as well as the need to build a strong retail customer base for both deposits and loan products. Being a clearing / settlement bank to various leading stock exchanges, the Bank has branches in centres where the NSE / BSE have a strong and active member base. The Bank also has a network of 18,089 ATMs across India. HDFC Bank's ATM network can be accessed by all domestic and international Visa / MasterCard, Visa Electron / Maestro, Plus / Cirrus and American Express Credit / Charge cardholders.
Technology
HDFC Bank has embarked on a transformative path, aspiring to be a “Technology company with a banking license”. Adoption to state-of-the-art information technology and communication systems along with leveraging emerging technologies and automation in key areas has been fundamental to empower this transformation.
We conduct our operations in a highly efficient manner at our Tech competency centres at the back end to deliver a seamless experience to our customers at the front-end. For smoother end user operation and enhanced availability, all branches have been equipped with online connectivity giving multi-branch access to our customers through branch network and Automated Teller Machines (ATMs).
We are constantly evolving and upgrading to acquire the best-in-class technology available internationally making us truly a world class bank.
Our core banking systems are powered by Flexcube for corporate banking and Finware for retail banking. The systems are open, scalable and web enabled.
At HDFC Bank, we strive towards making banking simple through seamless, neo-banking experiences. Each of our businesses are focused with a domain-led expertise to develop new digital products and services for our customers which will usher in the next wave of digital banking.
MOGO - Our Musical Logo
HDFC Bank's MOGO - our Musical Logo - is a vibrant expression of the values that have driven the Bank to become India's premier digital bank. It helps form a powerful emotional connect with customers and builds recall among stakeholders across platforms - ATMs, PhoneBanking, Apps and other touch-points
Our MOGO reflects the two dimensions of what we stand for:
Trust
Created through being caring and reliable over the last two decades
Progressive change
To address the ever changing needs of our customers
This piece is inspired by Raag Bilawal which expresses innovation and dynamism and Raag Shudh Kalyan which reflects the caring, humane nature of HDFC Bank. You will find contemporary western instruments such as the Piano and Guitar accompanying our very own Sitar, thus creating a wholesome blend of global aspiration and Indian earthiness.
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MOGO is a registered trademark of Brand Musiq.