HDFC Bank – Review and Features

India is one of the largest economies in the world and one can well imagine the importance of banking services in a rapidly developing economy like India. The country’s banking sector saw an extensive transition after the entry of private banking and financial service companies in it because their entry suddenly raised the level of services and created an overall improvement in the sector.

HDFC Bank Limited is the largest private sector bank in the country by market capitalization and also the fifth largest bank by assets. HDFC Bank was set up in 1994 by a housing finance company called Housing Development Finance Corporation, which dates back to 1997. Today, it has completed more than two decades of banking in the country and has a glorious history and a trusting client base in India and abroad.

Here are some features of HDFC Bank:

  1. 1.HDFC Bank has its headquarters in Mumbai in Maharashtra. As of March 2013, the value of assets of the bank stood at Rs 4.08 trillion while its net profits for the fiscal year 2012-13 amounted to Rs 69 billion, which showed an increase of 31% from the previous year.
  2. The customer base of this largest private sector bank in the country was that of a whopping 28.7 million customers in March 2013.
  3. As of September 2013, the number of branches of HDFC Bank was 3251, along with 11177 ATMs spread over 2022 cities in the country. All these branches have been linked online on real time basis, so that clients can be given speedy and reliable services.
  4. In addition to the domestic branches, HDFC Bank also operates in the overseas locations of Hong Kong and Bahrain through its branches in these countries.
  5. As of March 2013, the total number of employees of HDFC Bank reached 69065 and 12295 of these were women, which accounted for 17.80%. In 2012-13, a sum of Rs 42 billion was incurred by the bank for the purpose of employee benefits.
  6. In addition to the SME banking services like deposits, business financing, trade services, ATMs and cards, the bank also provides specialized service catering to the needs of NRI clients. It also offers wholesale banking for corporations, trusts and financial institutions.
  7. HDFC Bank was the first in the country to issue an international debit card in collaboration with VISA. It entered the field of credit cards way back in 2001.
  8. The bank has two subsidiaries, namely HDB Financial Services Limited (HDBFS) and HDFC Securities Limited. While HDBFS is engaged in retail asset financing, HDFC Securities Limited deals in stock brokering business.
  9. One of the specialized services provided by the bank is the HDFC Bank Regular Salary Account which is a zero balance account, that is, it needs no minimum balance but provides interest at the savings account rate, which makes it very useful for salaried individuals.
  10. Free online banking and mobile banking are other innovative features which have played a key role in the increasing popularity of HDFC Bank.

Over the years, HDFC Bank has worked with the commitment of providing the best services to its clients and has emerged as one of the top runners in the banking sector of the country.


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