Indian banking and financial services provider HDFC Bank Limited has its corporate office in Mumbai. As of April 2021, it was the largest private sector bank in India by assets and the tenth-largest bank in the world by market capitalization. HDFC net worth is Rs. 2,40,092 crores. With a market value of $122.50 billion, it is the third-largest firm listed on the Indian stock exchanges. With little under 150,000 workers, it ranks as India’s fifteenth-largest employer.
HDFC net worth is Rs. 2,40,092 crores.
HDFC Bank History
As a division of the Housing Development Finance Corporation, HDFC Bank was established in 1994 and has its registered office in Mumbai, Maharashtra, India. The company’s first corporate headquarters and a full-service branch were opened by Manmohan Singh, who was the Union Finance Minister at the time, in Sandoz House in Worli.
The bank’s distribution network consisted of 6,378 branches spread over 3,203 locations as of June 30, 2022. In FY 2017, it issued 12 million credit cards, 23,570,000 debit cards, and 430,000 POS terminals. As of June 30, 2022, it had a base of 1,52,511 permanent employees.
| Name | HDFC Bank Limited |
| Headquarters | Mumbai, Maharashtra, India |
| Founder | August 1994 (28 years ago) |
| Founder | Housing Development Finance Corporation |
| HDFC Net Worth | Rs. 2,40,092 crores |
| Employees | 1,41,579 (2022) |
| Subsidiaries | 2 |
| Operating Income | Rs. 68,798 crore |
| Revenue | Rs. 167,695 crores |
| Last Updated | November 2022 |
HDFC Net Worth
HDFC Bank limited is the largest private sector bank in India. HDFC net worth is Rs. 2,40,092 crores in 2022. The bank has seen an immense rise in its market capitalization in the last years due to its massive overall structural improvements in products and services.
The result has been wonderful and HDFC Bank has become 3rd largest company in India with a market capitalization of more than $122 billion. The bank is also the 15th biggest employer in the nation and employs more than 150k people around the country in various branches and district offices. HDFC Bank has assets worth Rs. 2,122,934 crores.
HDFC net worth is Rs. 2,40,092 crores.
HDFC Net Worth Growth
| HDFC Net Worth 2022 | Rs. 2,40,092 crores |
| HDFC Net Worth 2021 | Rs. 2,03,720 crores |
| HDFC Net Worth 2020 | Rs. 1,70,986 crores |
| HDFC Net Worth 2019 | Rs. 1,49,206 crores |
| HDFC Net Worth 2018 | Rs. 1,06,295 crores |
HDFC Bank Products and Services
Numerous goods and services are offered by HDFC Bank, such as wholesale and retail banking, treasury, vehicle, motorcycle, and personal loans as well as loans secured by real estate, consumer durable loans, lifestyle loans, and credit cards. Payzapp and SmartBUY are two additional digital goods that go along with this range.
HDFC Bank Subsidiaries and Acquisitions
In February 2000, Times Bank and HDFC Bank amalgamated. In the category of New Generation Private Sector Banks, this was the first merger of two private banks. Bennett, Coleman, and Co. Ltd., also known as The Times Group and the largest media company in India, founded Times Bank.
HDFC Bank bought Centurion Bank of Punjab (CBoP) in 2008. One of the biggest mergers in the Indian financial sector occurred when the board of directors of HDFC Bank authorized the purchase of CBoP for $95.1 billion.
To run a pan-Indian umbrella organization for retail payment systems, comparable to the National Payments Corporation of India, the bank purchased a 9.99% share in FERBINE in 2021. FERBINE is a company supported by the Tata Group.
A number of credit cards enabled by the Visa worldwide card network were introduced by the bank and Paytm in September 2021. HDFC Bank and HDFC Limited announced their merger on April 4, 2022.
HDFC Bank’s parent business, Housing Development Finance Corporation, invested 1,000 crores in Yes Bank in March 2020. 75% of the corporation’s total investment would be locked in for three years under the Yes Bank rehabilitation plan. On March 14, Yes Bank distributed to the Corporation 100 billion shares with a face value of 2 each for a price of 10 per share (including an 8 premium), representing 7.97% of Yes Bank’s post-issue equity share capital.
HDFC net worth is Rs. 2,40,092 crores.
HDFC Bank Stock Exchange Listing
The National Stock Exchange of India and the Bombay Stock Exchange both list HDFC Bank equity shares. Its American depositary receipts, issued by JP Morgan Chase Bank, are listed on the NYSE.
The board of directors decided to discontinue its global depository receipts (GDRs), which had previously been listed on the Luxembourg Stock Exchange due to its low trading volume.
HDFC Bank Rumors and Controversies
HDFC Bank is one of India’s most popular and largest banks but has occasionally faced controversies. In response to incidents of outages in the bank’s internet banking, mobile banking, and payment utility services, the Reserve Bank of India (RBI) ordered HDFC Bank to temporarily halt the issuance of new credit cards as well as all other planned activities under the bank’s Digital 2.0 program on December 2, 2020.
For failing to conduct ongoing due diligence in the case of 39 current accounts established for bidding in the initial public offering, the RBI fined HDFC Bank money on January 29, 2020. In Odisha, an HDFC bank manager was detained on suspicion of defrauding the government out of 59.41 lakh rupees.
A complaint against HDFC Bank for debiting some of the money the company had raised through external commercial borrowing (ECB) and parked at the bank was made to the RBI by Altico Capital and Dubai’s Mashreq Bank. They asserted that the HDFC bank may have broken the RBI’s end-use guideline by transferring money from the account.
The RBI fined HDFC Bank Rs 10 crore on May 27, 2021, for failing to comply with regulations regarding its vehicle lending portfolio. The aforementioned fine was levied in response to violations of the Banking Regulation Act of 1949.
HDFC net worth is Rs. 2,40,092 crores.
HDFC Bank Social Media Accounts
| 2.9M Followers | Link | |
| 304K Followers | Link | |
| 570K Followers | Link | |
| YouTube | 301K Subscribers | Link |
10 Facts about HDFC Bank
- HDFC Bank Limited is an Indian financial services institution.
- HDFC Bank was founded in August 1994 as a subsidiary of the Housing Development Finance Corporation.
- It is the largest private sector bank in India with assets worth more than Rs. 2,122,934 crores.
- HDFC Bank is headquartered in Mumbai, India.
- HDFC Bank is the 3rd largest company in India with a market capitalization of more than $122 billion.
- It is the 10th largest bank in the world by market capitalization.
- HDFC net worth is Rs. 2,40,092 crores in 2022.
- HDFC Bank is the 15th largest employer in India with more than 150k employees.
- HDFC Bank has more than 6,378 branches in more than 3,203 cities around India.
- Housing Development Finance Corporation is the owner of HDFC Bank with more than a 25% stake in the company.
Frequently Asked Questions about HDFC Bank
What is HDFC net worth?
HDFC net worth is Rs. 2,40,092 crores.
When was HDFC Bank founded?
HDFC Bank was founded in August 1994.
Who is the owner of HDFC Bank?
With more than 25% stake in the company, Housing Development Finance Corporation is the owner of HDFC Bank Limited.
Where are the headquarters of HDFC Bank located?
The headquarters of HDFC Bank is located in Mumbai, India.
How many employees work at HDFC Bank?
More than 150k employees work at HDFC Bank.
What is the market capitalization of HDFC Bank?
HDFC Bank is the 3rd largest company in India with a market capitalization of more than $122 billion.
Who is the CEO of HDFC Bank?
Sashidhar Jagdishan is the current CEO of HDFC Bank Limited.
Who is the chairman of HDFC Bank?
Atanu Chakraborty is the chairman of HDFC Bank Limited.
Conclusion
HDFC Bank is the largest private sector bank in India by assets worth more than Rs. 2,122,934 crores. HDFC Bank was founded in 1994 as a subsidiary of the Housing Development Finance Corporation. HDFC net worth is Rs. 2,40,092 crores in 2022. It is the 3rd largest company in India and the 10th largest bank with a market capitalization of more than $122 billion.
HDFC net worth is Rs. 2,40,092 crores.
HDFC Bank employs more than 150k people in India and is the 15th largest employer in India. Sashidhar Jagdishan is the current CEO of HDFC Bank Limited, while Atanu Chakraborty is the chairman.Â
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