HDFC Bank (HDB)

Headquartered in Mumbai (Bombay), India, HDFC Bank Limited (or HDFC) commenced operations in 1995. After growing aggressively in a relatively short span of time, HDFC is now one of the largest banks in India, with a retail network of 761 branches and over 1,977 ATMs in 327 cities for the fiscal year ending March 31, 2008. The bank enjoys favorable brand equity among Indian consumers and depositors, which enables it to keep its borrowing costs low.

The company provides a wide range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. The bank has four key business areas: Wholesale Banking (accounting for 48% of pretax income in the fiscal year ending March 31, 2008), Retail Banking (21%), Treasury (19%), and Other Banking (12%). The target markets for HDFC's Wholesale Banking (WB) segment are primarily large, blue chip manufacturing companies and emerging mid-sized corporations. WB provides a wide range of commercial and transactional banking services, including working capital finance, trade services, transactional services, and cash management. The bank is also a leading provider of structured solutions, which combines cash management services with vendor and distributor finance for facilitating superior supply chain management for its corporate customers. The bank also acts as a clearing/settlement bank to various leading stock exchanges in India and has emerged as one of the largest lenders to stock brokers and equity markets, giving customers a one-stop shop for all of their banking requirements. The Retail Banking Services segment provides a comprehensive range of financial products, including deposit products, loans, credit cards, debit cards, bill payment services, third party mutual funds, investment advice and other services, to middle and upper-income individuals in India. The Treasury Operations segment is responsible for managing the returns and market risk on the investment portfolio, and has three main product areas: Foreign Exchange and Derivatives, Local Currency Money Market and Debt Securities, and Equities. Other Banking includes credit cards, debit cards, third party product distribution, and primary dealership businesses.

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