HDFC Bank was established as HDFC Bank Limited on August 30, 1994 by Housing Finance Development Corporation Limited.
As a Scheduled Commercial Bank, HDFC Bank started its operations in January 1995, and HDFC Securities Ltd and HDB Financial Services Ltd are the two subsidiaries of HDFC. Aditya Puri serves as the Managing Director of HDFC.
In a list of ten biggest consumer financial services firms by Forbes, HDFC was ranked 7th. Headquartered in Mumbai, HDFC has a total of 2201 branches and 7110 ATMs.
It has presence in 996 cities across India. As per Reserve Bank of India data, HDFC is the largest issuer of credit cards in India. It had 6.28 million outstanding cards in December. HDFC is planning to double its credit card base in one year.
Net profit for the financial year increased by 20%. HDFC had a revenue of Rs. 60221.45 crore in latest financial year (2015-16). Its profit stood at Rs. 12296.23 crore. It has total market capitalization of Rs. 298464.15 crore. HDFC’s gross non-performing assets increased to 0.95% from 0.93%. It operates in mainly three business segments - banking, wholesales banking and treasury.
HDFC bank also started a service dedicated for start-ups in Kolkata - SmartUp. It is a customized solution for the start-ups to meet all their banking requirements. HDFC launched this service in association with Nasscom. This solution for start-ups also provides advisory services, forex and payment solutions.