HDFCBANK

The HDFC Bank was incorporated in August 1994 by the name of 'HDFC Bank Limited,' with its registered office in Mumbai, India. It is commenced for its operations as a Scheduled Commercial Bank in January 1995. The Housing Development Finance Corporation (HDFC) was among the first to receive an 'in principle' approval from the RBI or Reserve Bank of India to set-up a bank particularly in the private sector and as a part of the RBI's liberalization of the Indian Banking Industry in 1994.

Its headquarters are located in Mumbai, and it also has an excellent network of about 1416 branches which are spread over 550 cities across India. And all of its offices are linked mainly via an online real-time basis. The customers in over 500 locations are also serviced via Telephone Banking. It has a network of about over 3382 networked ATMs across these cities.

The promoter of the company HDFC was also incepted in 1977 is India's most premier housing finance company which enjoys an impeccable track record in India as well as in international markets. It has also developed significant expertise in the retail mortgage loans to different market segments with a substantial corporate client base for its housing-related various credit services. And with its experience in the financial markets, a strong market reputation, a significant shareholder base, and a unique consumer franchise. Also, it was ideally positioned to promote a bank in this particular Indian Market.

Also, its shares are being listed on the BSE or Bombay Stock Exchange Limited and NSE or the National Stock Exchange of India Limited. The Bank's American Depository Shares or ADS are listed on the New York Stock Exchange (NYSE) under the symbol of 'HDB,' and also the Bank's Global Depository Receipts (GDRs) are being listed on Luxembourg Stock Exchange.

As on May 23, 2008, the amalgamation of Centurion Bank of Punjab with HDFC Bank was being approved by the Reserve Bank of India to complete the legal and regulatory approval procedure. As per the scheme of amalgamation, CBoP shareholders received one share of HDFC Bank for every 29 shares of CBoP.

Now, the merged entity holds a strong deposit base of around INR 1, 22,000 crore and with its net advances of approximately INR 89,000 crores. The balance sheet size, including the combined entity, would be about INR 1, 63,000 crore. Also, the amalgamation that was added had a significant value to HDFC Bank in terms of the increased branch network, and geographic reach, and customer base, and with the bigger pool of skilled workforce.