The Housing Development Finance Corporation Limited

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    The Housing Development Finance Corporation Limited (HDFC) was amongst the first toreceive an 'in principle'

    approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's

    liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name

    of 'HDFC Bank Limited', with itsregistered office in Mumbai, India. HDFC Bank commenced operations as a

    ScheduledCommercial Bank in January 1995.

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    Varsha Singh

    The Housing Development Finance Corporation Limited (HDFC) was amongst the first toreceive an 'in principle'

    approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI'sliberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name

    of 'HDFC Bank Limited', with itsregistered office in Mumbai, India. HDFC Bank commenced operations as a

    ScheduledCommercial Bank in January 1995.HDFC is India's premier housing finance company and enjoys an

    impeccable track record inIndia as well as in international markets. Since its inception in 1977, the Corporation

    hasmaintained a consistent and healthy growth in its operations to remain the market leader inmortgages. Its

    outstanding loan portfolio covers well over a million dwelling units. HDFChas developed significant expertise in

    retail mortgage loans to different market segments andalso has a large corporate client base for its housing related

    credit facilities. With itsexperience in the financial markets, a strong market reputation, large shareholder base

    andunique consumer franchise, HDFC was ideally positioned to promote a bank in the Indianenvironment.HDFC

    Bank's mission is to be a World-Class Indian Bank. The objective is to build soundcustomer franchises across

    distinct businesses so as to be the preferred provider of bankingservices for target retail and wholesale customer

    segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is

    committed to maintain thehighest level of ethical standards, professional integrity, corporate governance and

    regulatorycompliance. HDFC Bank's business philosophy is based on four core values - OperationalExcellence,

    Customer Focus, Product Leadership and People.

    Capital Structure

    As on 31st March, 2009 the authorised share capital of HDFC Bank is Rs. 550 crore. The paid-up capital as on the

    said date is Rs. 425,38,41,090/- ( 42,53,84,109 equity shares of Rs10/- each). The HDFC Group holds 19.38% of

    the Bank's equity and about 17.70 % of theequity is held by the ADS Depository (in respect of the bank's American

    Depository Shares(ADS) Issue). 27.69 % of the equity is held by Foreign Institutional Investors (FIIs) and theBank

    has about 5,48,774 shareholders.The shares are listed on the Bombay Stock Exchange Limited and The National

    Stock Exchange of India Limited. The Bank's American Depository Shares ( ADS ) are listed on the

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    New York Stock Exchange (NYSE) under the symbol 'HDB' and the Bank's GlobalDepository Receipts (GDRs) are

    listed on Luxembourg Stock Exchange under ISIN NoUS40415F2002.On May 23, 2008, the amalgamation of

    Centurion Bank of Punjab with HDFC Bank wasformally approved by Reserve Bank of India to complete the

    statutory and regulatoryapproval process. As per the scheme of amalgamation, shareholders of CBoP received 1

    shareof HDFC Bank for every 29 shares of CBoP.The merged entity will have a strong deposit base of around Rs.

    1,22,000 crore and netadvances of around Rs. 89,000 crore. The balance sheet size of the combined entity would

    beover Rs. 1,63,000 crore. The amalgamation added significant value to HDFC Bank in termsof increased branch

    network, geographic reach, and customer base, and a bigger pool of skilled manpower.In a milestone transaction in

    the Indian banking industry, Times Bank Limited (another new private sector bank promoted by Bennett, Coleman

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    & Co. / Times Group) was merged withHDFC Bank Ltd., effective February 26, 2000. This was the first merger of

    two private banksin the New Generation Private Sector Banks. As per the scheme of amalgamation approved by the

    shareholders of both banks and the Reserve Bank of India, shareholders of Times Bank received 1 share of HDFC

    Bank for every 5.75 shares of Times Bank.HDFC Bank is headquartered in Mumbai. The Bank at present has an

    enviable network of over 1412 branches spread over 528 cities across India. All branches are linked on anonline

    real-time basis. Customers in over 500 locations are also serviced through TelephoneBanking. The Bank's expansion

    plans take into account the need to have a presence in allmajor industrial and commercial centres where its corporate

    customers are located as well asthe need to build a strong retail customer base for both deposits and loan products.

    Being aclearing/settlement bank to various leading stock exchanges, the Bank has branches in thecentres where the

    NSE/BSE have a strong and active member

    base.The Bank also has a network of about over 3295 networked ATMs across these cities.Moreover, HDFC Bank's

    ATM network can be accessed by all domestic and internationalVisa/MasterCard, Visa Electron/Maestro,

    Plus/Cirrus and American Express Credit/Chargecardholders.

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    Mr. Jagdish Capoor took over as the bank's Chairman in July 2001. Prior to this, Mr. Capoor was a Deputy

    Governor of the Reserve Bank of India.The Managing Director, Mr. Aditya Puri, has been a professional banker for

    over 25 years,and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.The Bank's

    Board of Directors is composed of eminent individuals with a wealth of experience in public policy, administration,

    industry and commercial banking. Senior executives representing HDFC are also on the Board.Senior banking

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    professionals with substantial experience in India and abroad head various businesses and functions and report to

    the Managing Director. Given the professionalexpertise of the management team and the overall focus on recruiting

    and retaining the besttalent in the industry, the bank believes that its people are a significant competitive

    strength.HDFC Bank operates in a highly automated environment in terms of information technologyand

    communication systems. All the bank's branches have online connectivity, which enablesthe bank to offer speedy

    funds transfer facilities to its customers. Multi-branch access is also provided to retail customers through the branch

    network and Automated Teller Machines(ATMs).The Bank has made substantial efforts and investments in acquiring

    the best technologyavailable internationally, to build the infrastructure for a world class bank. The Bank's business is

    supported by scalable and robust systems which ensure that our clients always getthe finest services we offer.The

    Bank has prioritised its engagement in technology and the internet as one of its key goalsand has already made

    significant progress in web-enabling its core businesses. In each of its businesses, the Bank has succeeded in

    leveraging its market position, expertise andtechnology to create a competitive advantage and build market share.

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