HDFC Bank Is One Of The Leading Private Banks In India And Was One Of The First To Receive Approval From The Reserve Bank Of India (RBI) To Set Up A Private Bank In 1994.

As Of 9, 2024, The Bank's Distribution Network Had 993,4 Branches And 088,7 ATMs In 092,20 Cities/towns, And The Bank Had 30,2023 Branches And 51,000 ATMs In 3,836 Cities/townships. Branches Are Located In Semi-urban And Rural Areas. The Bank's International Operations Include Four Branches In Hong Kong, Bahrain, Dubai And IFSC Banking Unit (IBU) In International FinTech City, Gujarat. It Has Five Representative Offices In Kenya, Abu Dhabi, Dubai, London And Singapore. The Singapore And London Offices Were The Representative Offices Of The Former HDFC Limited And Became The Representative Offices Of The Bank After The Merger. These Are Used To Provide Loan Related Services To Obtain Home Loans In India And Purchase Property In India.

HDFC Bank Limited Is An Indian Banking And Financial Services, Company, Headquartered In Mumbai. As Of May 2024, It Is The Largest Private Bank In India By Assets And The 10th Largest Bank In The World By Market Capitalization.

The Reserve Bank Of India (RBI) Has Recognized HDFC Bank, State Bank Of India And ICICI Bank As Domestic Systemically Important Banks (D-SIB), Which Are Often Referred To As "too Big To Fail" Banks.

With A Market Capitalization Of $145 Billion As Of April 2024, HDFC Bank Is The Third Largest Company On The Indian Stock Exchange. It Is Also The 16th Largest Employer In India With Over 173,000 Employees After Acquiring Its Parent Company, Housing Development Finance Corporation.

HISTORY

HDFC Bank Was Established In 1994 As A Subsidiary Of HDFC Limited, Which Received "in-principle" Approval From The Reserve Bank Of India To Set Up A Bank In The Private Sector As Part Of Its Liberalization Of The Indian Banking Sector. The Bank Commenced Operations In January 1995 With A Registered Office In Mumbai. [The Bank's First Corporate Office And Full-service Branch At Sandoz House, Warri Was Inaugurated By Then Union Finance Minister Manmohan Singh.

In February 2000, Times Bank Merged With HDFC Bank, The First Bank To Merge Voluntarily In Indian History. Times Bank Was Founded By Time Group, India's Largest Media Conglomerate.

In July 2001, HDFC Bank's American Depositary Receipts Went Public In An Initial Public Offering (IPO) On The New York Stock Exchange.

In 2008, HDFC Bank Acquired Centurion Bank Of Punjab (CBoP) For INR 951 Billion (approx. $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, A Company Initiated By The Tata Group To Operate A Pan-Indian Retail Payment System Umbrella Entity Similar To The National Payments Corporation Of India.

HDFC Ltd - HDFC Bank Merger

On April 4, 2022, HDFC Ltd Announced That It Would Merge With HDFC Bank In The Largest Merger And Acquisition Transaction Ever In India. As Part Of The Merger, HDFC Limited Will Transfer Its Portfolio Of Home Loans To HDFC Bank, While The Bank Offers HDFC Limited's Depositors The Option Of Withdrawing Funds Or Renewing Them At The Interest Rate Then Offered By The Bank.

On July 1, 2023, The Merger Of HDFC Limited With HDFC Bank Was Completed. As A Result, HDFC Bank's Market Capitalization Reached $154 Billion, Making It The Seventh Most Valuable Bank In The World. HDFC Bank Also Became One Of The World's Top 100 Banks By Total Assets.

The Combined Company's Customer Base Reached 120 Million, Larger Than The Population Of Germany. After The Merger, The Number Of Employees In The Bank Increased Significantly, Bringing The Total Number Of Employees To 177,000. The Merged Company Became The Second Largest Bank In India, After The State Bank Of India In Terms Of Assets. The Number Of Branches Increased To 8,300.

HDFC Limited's Shares Were Delisted, And Shareholders Received 42 HDFC Bank Shares For Every 25 HDFC Limited Shares They Held, Thus Increasing HDFC Bank's Share Capital.

Operation

One Branch Of HDFC Bank Hyderabad

As Of March 2024, HDFC Bank's Distribution Network Includes 8,735 Branches And 20,938 ATMs (cash Revolving Machines; Cash Withdrawals And Withdrawals) In 3,836 Cities And Villages. HDFC Limited's Distribution Network, Consisting Of 737 Locations, Including 214 Offices Of HDFC Sales Private Limited, Has Been Integrated Into The Banking Network.

HDFC Bank Has Opened A Branch On Kavarati Island, Becoming The Only Private Bank Operating In The Federal Dependency Of The Lakshah Islands.

PRODUCTS AND SERVICES

HDFC Bank Offers A Wide Range Of Products And Services, Including Wholesale Banking, Retail Banking, Treasury Operations, Auto Loans, Two-wheeler Loans, Personal Loans, Mortgages, Consumer Durables Loans, Lifestyle Loans, And Credit Cards. In Addition To This, There Are Various Digital Products Such As PayZapp And SmartBUY. The Company Has Also Launched Its Smart Wealth App In 2024