HDFC Bank

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HDFC Bank logo

HDFC Bank (NYSE: HDB), one amongst the firsts of the new generation, tech-savvy commercial banks of India, was set up in August 1994 after the Reserve Bank of India allowed setting up of Banks in the private sector. The Bank was promoted by the Housing Development Finance Corporation Limited, a premier housing finance company (set up in 1977) of India. Net Profit for the year ended March 31, 2006 was up 30.8% to Rs 870.8 crores.

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[edit] Branch network

Currently (2007), HDFC Bank has 583 branches located in 263 cities of India, and all branches of the bank are linked on an online real-time basis. The bank offers many innovative products & services to individuals, corporates, trusts, governnments, partnerships, financial institutions, mutual funds and insurance companies. The bank also has over 1471 ATMs. In the next few months the number of branches and ATMs should go up substantially.

[edit] Recognition

Over a decade of its operations, HDFC Bank has been recognized, rated and awarded by a number of organizations, which includes:

  • Best Domestic Bank in India in The Asset Triple A Country Awards 2005, 2004 and 2003.
  • “Company of the Year” Award in The Economic Times Awards for Corporate Excellence 2004-05.
  • Asiamoney's Awards for Best Domestic Commercial Bank as well as Best Cash Management Bank - India in 2005.
  • The Asian Banker Excellence in Retail Banking Risk Management Award in India for 2004.
  • Finance Asia “Best Bank - India” in 2005, "Best Domestic Commercial Bank – India” in 1999, 2000 and 2001 respectively and “Best Local Bank – India” in 2002 and 2003.

Business Today “Best Bank in India” in 2003 and 2004.

  • “Best Overall Local/Domestic Bank – India” in the Corporate Cash Management Poll conducted by Asiamoney magazine.
  • Selected by BusinessWorld as "one of India's Most Respected Companies" as part of The Business World Most Respected Company Awards 2004.
  • In 2004, Forbes Global named HDFC Bank in its listing of Best Under a Billion, 100 Best Smaller Size Enterprises in Asia/Pacific and Europe.
  • In 2004, HDFC Bank won the award for “Operational Excellence in Retail Financial Services” - India as part of the Asian Banker Awards 2003.
  • In 2003, Forbes Global named HDFC Bank in its ranking of “Best Under a Billion, 200 Best Small Companies for 2003”.
  • The Financial Express named HDFC Bank the “Best New Private Sector Bank 2003” in the FE-Ernst & Young Best Banks Survey 2003.
  • Outlook Money named HDFC Bank the “Best Bank in the Private Sector” for the year 2003.
  • NASSCOM and economictimes.com have named HDFC Bank the ‘Best IT User in Banking’ at the IT Users Awards 2003.
  • Euromoney magazine gave HDFC Bank the award for "Best Bank – India” in 1999, “Best Domestic Bank” in India in 2000, and “Best Bank in India” in 2001 and 2002.
  • Asiamoney magazine has named us “Best Commercial Bank in India 2002”
  • For its use of information technology, HDFC Bank has been recognized as a “Computerworld Honors Laureate” and awarded the 21st Century Achievement Award in 2002 for Finance, Insurance & Real Estate category by Computerworld, Inc., USA. Its technology initiative has been included as a case study in their online global archives.
  • Business India named HDFC Bank “India’s Best Bank” in 2000.
  • In 2000, Forbes Global named HDFC Bank in its list of “The 300 Best Small Companies” in the world and as one of the “20 for 2001” best small companies in the world.

[edit] See also

[edit] External links

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