HDFC Bank Ltd. is one of India’s leading private banks and was among the first to receive approval from the Reserve Bank of India (RBI) to set up a private sector bank 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. The Bank’s international operations comprise 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.
Business area of the Bank
The Bank together with its subsidiaries is engaged in providing a range of banking and financial services, including retail banking, wholesale banking, treasury operations, insurance, asset management, stock broking and other financial services business. The Bank has overseas branch operations in Bahrain, Hong Kong, Dubai, Singapore and an Offshore Banking Unit at International Financial Service Centre (IFSC), GIFT City, India. The bank has three key business segments: Wholesale Banking, Treasury and Retail Banking.
Wholesale Banking: The Wholesale Banking business of the Bank caters to a wide spectrum of clientele, including Large Corporates, Multinational Corporations, Government, Public Sector Enterprises, Emerging Corporates and Business Banking/SMEs. The Bank extends diverse and comprehensive end to end financial products and services, such as loans, deposits, payments, collections, tax solutions, trade finance, cash management solutions and corporate cards. Post the merger of HDFC Limited with HDFC Bank, the Bank inherited the realty finance business. The bank increased its focus to provide construction finance in residential, commercial space as well as lease rental discounting to leading developers in FY25. The Bank's goal is to serve as a onestop solution for the extensive business requirements of our customers in Wholesale Banking business. It offers personalised solutions to address specific customer requirements, supported by dedicated relationship managers who act as the single point of contact for all their banking needs. Leveraging the extensive experience in serving the wholesale segment, HDFC Bank has built a strong reputation for delivering quality and reliable services to its customers.
Retail Banking: HDFC Bank's Retail business serves a wide and diverse customer base, including individuals, salaried professionals, and small businesses such as Kirana stores, Self Help Groups (SHGs), and Non-Resident Indians (NRIs). With a focus on understanding and meeting the unique needs of these customers, the Bank offers a comprehensive suite of products and services. This includes Savings and Current accounts, a range of loan options for personal and business purposes, Credit and Debit cards, Digital wallets, Insurance and Investment products, and Remittance services. From affordable housing to home loans for NRIs, the Bank’s extensive product portfolio is supported by advanced digital capabilities and deep industry expertise, ensuring a smooth and convenient experience for all its customers.
Treasury: The Treasury department oversees the Bank's cash and liquid assets and manages investments in securities and other market instruments. It is responsible for maintaining liquidity, monitoring interest rate risks on the balance sheet, and ensuring compliance with statutory reserve requirements. Additionally, the department addresses customers' treasury needs, generating fee income from customer transactions and handling their foreign exchange and interest rate risks.
Achievements/ recognition
2007
Dun & Bradstreet - American Express Corporate Best Bank Award 2007 - 'Corporate Best Bank' Award
The Bombay Stock Exchange and Nasscom Foundation's Business for Social Responsibility Awards 2007 - 'Best Corporate Social Responsibility Practice' Award
Outlook Money & NDTV Profit - Best Bank Award in the Private sector category
The Asian Banker Excellence in Retail Financial Services Awards - Best Retail Bank in India
Asian Banker - Its Managing Director Aditya Puri wins the Leadership Achievement Award for India
2008
Finance Asia Country Awards for Achievement 2008 - 'Best Bank and Best Cash Management Bank'
CNN-IBN - 'Indian of the Year (Business)'
Nasscom IT User Award 2008 - 'Best IT Adoption in the Banking Sector'
Business India - 'Best Bank 2008'
Forbes Asia - Fab 50 companies in Asia Pacific
Asian Banker Excellence in Retail Financial Services - Best Retail Bank 2008
Asiamoney - Best local Cash Management Bank Award voted by Corporates
Microsoft & Indian Express Group - Security Strategist Award 2008
World Trade Center Award of honour - For outstanding contribution to international trade services.
Business Today-Monitor Group survey - One of India's 'Most Innovative Companies'
Financial Express-Ernst & Young Award - Best Bank Award in the Private Sector category
Global HR Excellence Awards - Asia Pacific HRM Congress: - 'Employer Brand of the Year 2007 -2008' Award - First Runner up, & many more
Business Today - 'Best Bank' Award
2009
Business Standard Best Banker Award - Mr. Aditya Puri, MD, HDFC Bank
Fe Best Bank Awards 2009 - Best Innovator of the year award for its MD Mr. Aditya Puri - Second Best Private Bank in India - Best in Strength and Soundness Award
Euromoney Awards 2009 - 'Best Bank in India'
Economic Times Brand Equity & Nielsen Research annual survey 2009 - Most Trusted Brand - Runner Up
Asia Money 2009 Awards - 'Best Domestic Bank in India'
IBA Banking Technology Awards 2009 - 'Best IT Governance Award - Runner up'
Global Finance Award - 'Best Trade Finance Bank in India for 2009
IDRBT Banking Technology Excellence Award 2008 - 'Best IT Governance and Value Delivery'
Asian Banker Excellence in Retail Financial Services - 'Asian Banker Best Retail Bank in India Award 2009'
2010
Outlook Money 2010 Awards - Best Bank
Businessworld Best Bank Awards 2010 - Best Bank (Large)
Teacher's Achievement Awards 2010 (Business) - Mr. Aditya Puri
The Banker and PWM 2010 Global Private Banking Awards - Best Private Bank in India
Economic Times Awards for Corporate Excellence 2010 - Business Leader of the Year - Mr. Aditya Puri
Forbes Asia - Fab 50 Companies - 5th year in a row
NDTV Business Leadership Awards 2010 - Best private sector bank
The Banker Magazine - World's Top 1,000 Banks
MIS Asia IT Excellence Award 2010 - BEST BOTTOM-LINE I.T. Category
Dun & Bradstreet Banking Awards 2010 - Overall best bank, Best private sector bank, Best private sector bank in SME Financing
Institutional Investor Magazine Poll - HDFC Bank MD, Mr. Aditya Puri among ‘Asian Captains of Finance 2010’
IDRBT Technology 2009 Awards - IT Infrastructure, Use of IT within the Bank and Runners-up - IT Governance (Large Banks)
ACI Excellence Awards 2010 - Highly Commended - Asia Pacific HDFC Bank
FE-EVI Green Business Leadership Award - Best performer in the banking category
Celent's 2010 Banking Innovation Award - Model bank Award
Avaya Global Connect 2010 - Customer Responsiveness Award - Banking & Financial Services category
Forbes Top 2000 Companies - HDFC Bank at 632nd position and among 130 global high performers
Financial Express - Ernst & Young Survey 2009-10 - Best new private sector bank, Best in growth and Best in strength
Asian Banker Excellence Awards 2010 - Best retail bank in India, Excellence in automobile lending, Best M&A integration and technology implementation
The Asset Triple A Awards - Best cash management bank in India
Euromoney Private Banking and Wealth Management Poll 2010 - Best local bank in India (second year in a row), Best private banking services overall (moved up from No. 2 last year)
Financial Insights Innovation Awards 2010 - Innovation in branch operations - server consolidation project
Global Finance Award - Best trade finance provider in India for 2010
2 Banking Technology Awards 2009 - Best risk management initiative and Best use of business intelligence
SPJIMR Marketing Impact Awards (SMIA) 2010
Business Today Best Employer Survey - Listed in top 10 best employers in the country
2011
CNBC TV18's Best Bank & Financial Institution Awards - Best Bank and Mr. Aditya Puri, for outstanding finance professional
Dun & Bradstreet Banking Awards 2011 - Best private sector bank - SME Financing
ISACA 2011 award for IT Governance - Best practices in IT Governance and IT Security
IBA Productivity Excellence Awards 2011 - New Channel Adopter (Private Sector)
DSCI (Data Security Council of India) Excellence Awards 2011 - Security in bank
FINANCE ASIA Country Awards 2011: India - Best bank, best cash management bank and best trade finance bank
Asian Banker - Strongest bank in Asia Pacific
Bloomberg UTV's Financial Leadership Awards 2011 - Best bank
IBA Banking Technology Awards 2010 - Technology bank of the year, best online bank, best customer initiative, best use of business intelligence, best risk management system and runners up - best financial inclusion
IDC FIIA Awards 2011 - Excellence in customer experience
2013
Best Internet Bank - Winner
Best Customer Management Initiative - Winner
Best use of Mobility Technology in Banking
2014
2015
Business Today Award
National Payments Excellence Awards 2015
Forbes Asia
AIMA Managing India Awards 2015
Finance Asia poll on Asia's Best Companies 2015
J. P Morgan Quality Recognition Award
2016
Institutional Investor All-Asia Executive Team ranking 2016
BrandZ Top 50 Most Valuable Indian Brands
Cisco-CNBC TV 18 Digitizing India Awards
IBA Awards
NABARD Award
2017
Business India 19th Best Bank survey
Forbes Asia's 13th Fab 50 Companies List
BrandZ Top 50 Most Valuable Indian Brands
The Asset Triple A Asia Infrastructure Awards 2017
Asiamoney India Banking Awards 2017
2019
UTI MF - CNBC TV18 Financial Advisor Awards 2018-19
Euromoney Awards for Excellence 2019
Business Today - Money Today Financial Awards 2019
Nasscom DSCI Excellence Awards 2019
Business Today - Money Today Financial Awards 2019
2020
2021
- PWM Global Private Banking Awards 2021 - Best Private Bank in India
- FinanceAsia Country Awards for Achievement 2021 - Best Bank in India
- Asiamoney Asia Private Banking Awards 2021 - Best for wealth transfer - succession planning in India 2021
- Euromoney Awards for Excellence 2021 - Best Bank in India
- Business Today 19th 'India's Coolest Workplace' Survey - HDFC Bank Ranked Among 'India's Coolest Workplaces'
- Asiamoney Best Bank Awards 2021 - India’s Best Bank for SMEs 2021: HDFC Bank
- 25th Business Today - KPMG Best Bank Study - Best Large Bank - HDFC Bank
- Finnoviti Awards 2021 for Warehouse Commodity Finance on Mobile - Finnoviti Awards 2021
- Euromoney Private Banking and Wealth Management Survey 2021 - HDFC Bank ranks No. 1 in Mass Affluent category
- ICAI Award for Excellence in Financial Reporting - HDFC Bank wins Gold Shield Award for 2019-2020
2022
- Asiamoney Best Bank Awards 2022 (Best Corporate Bank, Best Bank for SMEs, Best Bank for Diversity & Inclusion)
- Euromoney Awards for Excellence 2022 - Best Bank in India
- Fortune India – Grant Thornton Bharat’s study of India’s Best Banks 2022 - Best Large Bank
- FinanceAsia’s Best Companies in Asia Poll 2022 - Most Committed to High Governance Best Standards
- National Rural Livelihood Mission (NRLM), Ministry of Rural Development, Govt of India - HDFC Bank adjudged Best Performing Bank in SHG Linkage
- Euromoney Private Banking and Wealth Management Survey 2022 - HDFC Bank ranks No. 1 in Super Affluent category
2023
- BT Best Banks Awards 2023 - Best Bank of the Year (Joint Winner) and Best Large Indian Bank
- Economic Times Awards for Corporate Excellence 2023 - Conscious Corporate of the Year
- Financial Express Best Banks Awards 2023 - Best Private Sector Bank
- Asiamoney Best Bank Awards 2023 - Best Domestic Corporate Bank and Best Bank for SMEs
- The Banker Global Private Banking Awards 2023 - Best Private Bank for Education and Training of Private Bankers (Asia) and Private Bank for Growth Strategy (Asia)
- Great Place to Work - HDFC Bank Certified as ‘Great Place To Work’ for the Year 2024-2025
2024
- The Global Private Banking Awards 2024 - Best Private Bank in India
- Dun and Bradstreet BFSI & Fintech Awards 2024 - India's Leading Private Bank (Large)
- ICC Emerging Asia Banking Conclave & Awards - Best Performance on Growth (Private Sector Bank - Large)
- Euromoney Awards for Excellence 2024 - India's Best Bank for SMEs
- Great Place to Work - HDFC Bank Certified as: ‘Great Place To Work’ in India, India's Best Workplaces in BFSI, India's Best Employers Among Nation-Builders
- Celent Model Bank Awards 2024 - Payment Innovation (PayZapp)
2025
- Global Private Banking Innovation Awards 2025 - Best Domestic Private Bank-India, Best Private Bank for Insurance, Best Wealth Management for $100k - $250k AUM
- Euromoney Private Banking Awards 2025 - India’s Best for HNW
- Dun & Bradstreet BFSI & Fintech Awards 2025 - India's Leading Private Bank (Large)
Milestones
1977
- Housing Development Finance Corporation (HDFC) Limited was incorporated on October 17.
- HDFC promoted as a 'development finance institution' by the Industrial Credit and Investment Corporation of India Limited, the International Finance Corporation, Washington [IFC(W)] and His Royal Highness The Aga Khan.
1978
- HDFC Limited's first Public Issue of equity shares of Rs 10 crore.
1994
- Housing Development Finance Corporation (HDFC) Limited received an in-principle approval from the RBI to set up a private sector bank
- Incorporated in August 1994 as HDFC Bank Limited
1995
- Banking licence received in January 1995
- IPO oversubscribed 55 times
- Listed on BSE and NSE
- First corporate office and branch opened
1997-98
- Maiden dividend announced
- New logo launched
1999
- Launched first international Debit Card in India in association with Visa International
- Began its digital journey by launching online real-time NetBanking
- First ever mega merger in Indian banking industry - Times Bank merged with HDFC Bank
2000
- First Bank to launch Mobile Banking in India
- Launched first SMS-based Mobile Banking
2001
- Overseas listing Listed on New York Stock Exchange (NYSE)
- Became the first private bank authorized to collect Income Tax
2003-04
- First bank in India to offer Credit Card in over 100 cities
- Touched 10 lakh users
2006
- Two new cards launched exclusively for women on International Women’s Day
2008
- Opened first overseas commercial branch in Bahrain
- Merger of Centurion Bank of Punjab with HDFC Bank – One of the largest mergers in the Indian banking industry
2010
- Launched 40% faster ATMs first of its kind in Asia
2011
- Growing market leadership - Expanded customer base to become market leaders in Auto Loans, Personal Loans, and Credit Cards
2012
- Launched Mobile Banking App in Hindi
- Launched a nationwide sports initiative - Josh Unlimited, for employees
2013
- The Bank’s Sustainable Livelihood Initiative (SLI) crosses a milestone - impacting 20 lakh household
2014
- Sustainability established as a core value of the Bank
- Created a new Guinness World Record for organising the largest single-day blood donation drive
- Became market leader in issuing Credit Cards in 2013-14 with 55 lakh+ Cards
2015
- Launched its sonic branding i.e. Musical Logo (MOGO) to be used across multiple touch points
- Launched PayZapp, India’s first 1-click mobile-pay solution
- Launched 10-second personal loan disbursement in the retail lending space
- Concurrent QIP issue and Follow-on offering: Rs 9,723 crore
2016
- ATMs turned to LDMs (Loan Dispensing Machines)
- Launched Smart Up programme for Start-Ups
2017
- Introduced EVA chatbot - India’s first AI-based chatbot to provide customer service
- Launched SmartUp Zones for Start-Ups
- Launched EasyEMI on Debit Cards
- Launched an all-in-one DigiPOS machine
2018
- Next-gen MobileBanking App launched
- Signed MoU with CSC, Govt of India to support financial inclusion in rural areas
2019
- Voted no.1 in India by customers in Forbes World’s Best Banks Survey
- BSE inks pact with HDFC Bank to give a boost to StartUp platform
- 1 Million+ units of blood collected via HDFC Bank Parivartan’s Blood Donation Drive over a period of 12 years, primarily from employees
- Opened 5,000th branch
- Marked the start of its 25th year
2020
- Ranked India’s most valuable brand (for the seventh consecutive year) by BrandZ Report
- Launch of HDFC Bank Millennia range of cards
- First ever leadership change (new MD & CEO, Mr. Sashidhar Jagdishan takes over)
- First-of-its-kind product launch: KGC-Shaurya card for armed forces
- Launch of contactless, consent-based customer on-boarding via video KYC facility
- Deploying mobile ATMs during the lockdown
2021
- Embarked on 'Project Future Ready'
- Pledged to become carbon neutral by 2031-32
2022
- HDFC Bank and HDFC Ltd. announce transformational merger
- Launched SmartHub Vyapar - A one-stop merchant solution App for all banking and business solutions
- Launched 'Vigil Aunty' campaign to promote freedom from fraud
2023
- Launched a revamped PayZapp 2.0 payments app that provides customers with a seamless, intuitive user experience with enhanced security features
- HDFC Bank and HDFC Limited merged with effect from July 1, 2023, creating one of the world’s most valued Banks. This strengthened our position as a leading financial services conglomerate and completes its product suite through the addition of home loans
2024
- RBI approved appointment of Mr. Kaizad Bharucha as Deputy Managing Director and Mr. Bhavesh Zaveri as Executive Director w.e.f. April 19, 2023
- Appointed Mr. V Srinivasa Rangan as Executive Director w.e.f. November 23, 2023
- Launched UPI QR code interoperable with Central Bank Digital Currency (CBDC), among the first banks in the country to complete the integration process.
- PayZapp 2.0 reached 75 lakh registrations
- Educated over 2 lakh citizens on safe digital banking practices pan India
2025
- Launched PIXEL: A new generation of Digital Credit Cards
- Became only private sector bank to have a branch in Lakshadweep
- Inaugurated its first branch in Singapore.
- Launched ‘Anmol Salary Account’ - India’s First Cyber Fraud Cover Integrated Offering for PSU Employees
- Launched GIGA - A Complete Financial Suite of Products for Gig Workers
- Became first domestic bank to execute a gold forward deal from GIFT City
- Tata Neu HDFC Bank Credit Card crosses a milestone - issuance of over 2 million cards.
