HDFC Bank – The Housing Development Finance Corporation
The Housing Development Finance Corporation Limited or HDFC is an Indian banking and financial services company , headquartered in Mumbai, Maharashtra. It is a major provider of finance for housing in India. The bank was incorporated in August 1994 in the name of ‘HDFC Bank Limited. It was the first bank to get the principle approval from Reserve Bank of India. It starts its operation as a Scheduled Commercial Bank in 1995.
HDFC Bank is India’s largest private sector lender by assets. Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional /branch banking on the retail side. They have an extensive network of 4,715 HDFC Bank branches all over India, in addition to 12,260 ATMs. They have also presence in overseas locations at Dubai, Bahrain, Abu Dhabi, Kenya and Hong Kong.
HDFC serves as a Banks, Financial Institutions, Mutual Funds, Stock Brokers, life and general insurance provider, asset management, venture capital and education loans. It provides correspondent bank services to Co-operative Banks, Private Banks, Foreign Banks & Regional Rural Banks.
HDFC Bank provides a wide range of banking services covering commercial and investment banking. The bank has 3 key business segments. They are Wholesale Banking, Treasury and Retail Banking. In wholesale banking bank’s target is large blue-chip manufacturing companies, small & mid-sized corporates and agri-based businesses. Treasury of this bank includes the activities in Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities.
Retail banking target is concentrates on alternative delivery channels like ATMs, Phone Banking, Net Banking and Mobile Banking. HDFC Bank Limited is the leading clearing Bank for National Stock Exchange of India Limited (NSEIL) and Bombay Stock Exchange Limited (BSE) offering a range of products and services in the Capital Market Business.