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HDFC Bank is a private bank set up in 1994 during Reserve Bank of India’s liberalization phase of privatizing banking services in India. HDFC Bank as per ‘Forbes Global 2000 list of companies is ranked 1093rd.
HDFC Bank promoted by Housing Finance Development Corporation started commercial operations in 1995 as HDFC Bank Limited. In its objective of providing customer satisfaction, HDFC Bank is committed to provide retail and corporate service to customers across locations. HDFC Bank’s philosophy is based on customer focus, operational excellence, product leadership, and human values.

Brief history
HDFC Bank was formed as HDFC Bank Limited by Housing Development Finance Corporation on principle approval from Reserve Bank of India in 1994. This bank set up in private sector has its registered office in Mumbai. 19.4 percent of this bank's shares are held by HDFC group, 17.6 percent in ADS (American depository shares), 28 percent by FIIs (foreign institutional investors) and remaining 35 percent by 570,000 shareholders. ADS held by HDFC Bank are listed in New York Stock Exchange.

Products and services
Products of HDFC Bank are classified into

i)Personal banking,
ii)Wholesale banking,
iii)NRI banking.

Personal banking – Personal depository services of HDFC Bank comprise savings accounts, current accounts, term deposit accounts and demat accounts. Loans offered by HDFC include home loans, car loans, tractor loans, educational loans, guaranteed loans, and personal loans. HDFC Bank offers insurance services, credit card and locker facilities to its personal customers.

Wholesale banking – Wholesale banking facilities offered by this bank include bill discounting, letter of credit, bank guarantees, working capital finance and export credit. Other wholesale banking services include project financing, asset management, and stock market services. Financing of various projects like construction equipment financing, commercial vehicle financing, medical equipment financing are provided by HDFC Bank.

NRI Banking – Foreign exchange transfers, non-resident ordinary (NRO) and non-resident external (NRE) fixed deposits, and mutual funds are certain non-resident Indian (NRI) banking services provided by HDFC Bank.

Asset worth of HDFC Bank, as on March 2008, was around $21.09 billion. Sales in that specified time amounted to about $1.96 billion and profits worth $0.27 billion were generated.

Awards and recognition
Few of awards won by HDFC Bank in 2008 include:
  • It has been adjudged ‘Best Bank of 2008’ by Business India
  • It has been awarded ‘Best Retail Bank 2008’ by Asian Banker Excellence
  • Microsoft and Indian Express Group conferred ‘Security Strategist Award 2008’ to HDFC Bank

Current financial crisis
Global financial crisis has resulted in a loss of more than INR.30,000 crore valuation in Bombay Stock Exchange. To counter this, HDFC Bank has decided on implementing stricter lending prerequisites, and lesser credit exposure in retail segment.