HDFC Bank Limited
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BSE Code:
500180
NSE Code:
HDFCBANK
Business Profile
Business Profile
HDFC Bank (HDFCBANK) was set up in 1994 by India`s leading housing finance company Housing Development Finance Corporation (HDFC). The bank offers a wide range of services which can be classified into three categories; namely treasury, wholesale banking, and retail banking services. The Bank at present has an enviable network of over 684 branches spread over 316 cities across India. All branches are linked on an online real-time basis. The bank also has a network of about over 1,695 networked ATMs across these cities
Under wholesale banking, it provides working capital finance, trade services, transactional services and cash management. Treasury function includes foreign exchange and derivatives, money market securities and equities. Retail loan products are auto loans, personal loans and loans for two-wheelers. It also provides depository participant services for retail customers. It was the first Indian bank which launched an international debit card.
Financials
The bank reported a substantial rise in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company rose 33.91% to Rs 6,308.80 million from Rs 4,711.10 million in the same quarter previous year. Interest earned for the quarter surged 43.79% to Rs 42,508.30 million, while total income for the quarter jumped 53.06% to Rs 53,655.20 million, when compared with the prior year period. During the quarter, it reported earnings of Rs 14.80 a share.
Recent Developments
18-MAR-09
The bank has issued unsecured, non-convertible, redeemable subordinated bonds on private placement basis aggregating to Rs 7.97 billion in the nature of debentures towards tier-II capital.
06-MAR-09
LIC has hiked its stake to 7.10% in HDFC Bank after purchasing shares in the open market.
24-FEB-09
The bank issued on a private placement basis unsecured, non-convertible, redeemable subordinated bonds in the nature of debentures towards tier - II capital as with upper tier - II bonds for an amount aggregating Rs 2 billion and lower tier - II bonds for an amount aggregating Rs 1.5 billion.
05-JAN-09
The company took the lead over ICICI Bank in terms of branch network.
25-DEC-08
Life Insurance Corporation of India (LIC) increased its stake in the company has to over 5% following acquisition of shares from the open market.