HDFC Bank

Mohd zafar Khan 17 months ago

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and world's 10th largest bank by market capitalisation as of April 2021.[12] It is the third largest company by market capitalisation of $122.50 billion on the Indian stock exchanges.[13] It is also the fifteenth largest employer in India with nearly 120,000 employees.[1
HDFC Bank was incorporated in 1994 as a subsidiary of the Housing Development Finance Corporation, with its registered office in Mumbai, Maharashtra, India. Its first corporate office and a full-service branch at Sandoz House, Worli were inaugurated by the then Union Finance Minister, Manmohan Singh.

As of 30 June 2019, the bank's distribution network was at 5,500 branches across 2,764 cities. It has installed 430,000 POS terminals and issued 23,570,000 debit cards and 12 million credit cards in FY 2017.[15] It has a base of 1,16,971 permanent employees as of 21 March 2020.[16]
March 2020, Housing Development Finance Corporation, parent company of HDFC Bank, made an investment of ₹1,000 crores in Yes Bank.[24] As per the scheme of reconstruction of Yes Bank, 75% of the total investment by the corporation would be locked in for three years. On 14 March, Yes Bank allotted 100 crore shares of the face value of ₹2 each for consideration of ₹10 per share (including ₹8 premium) to the Corporation aggregating to 7.97 percent of the post issue equity share capital of Yes bank.[25]