HDFC Bank’s journey began in 1994 when it was established as a subsidiary of the Housing Development Finance Corporation. Its registered office is situated in Mumbai, Maharashtra, India. The bank’s inaugural corporate office and a full-service branch at Sandoz House in Worli were officially inaugurated by the then Union Finance Minister, Manmohan Singh.
Fast forward to June 1, 2023, and the bank boasts an extensive distribution network featuring 8,344 branches and 19,727 ATMs spanning 3,811 cities. Furthermore, it has deployed an impressive 4,30,000 Point of Sale (POS) terminals and has issued 23.5 million debit cards and 12 million credit cards during the fiscal year 2017. In terms of its workforce, HDFC Bank comprises 177,000 permanent employees as of June 1, 2023.
While HDFC Bank’s eminence is widely recognized, there exist some intriguing lesser-known facts that reflect its commitment to pioneering innovation and service excellence:
1. Pioneering Lifetime Free Credit Cards: HDFC Bank made financial history in India by being the first to offer credit cards with a lifetime free membership, setting a precedent for the entire banking industry.
2. Spearheading Mobile Banking: With an unwavering focus on digital transformation, HDFC Bank became the first Indian bank to launch a mobile banking app, revolutionizing the way customers interact with their finances.
3. A Global Recognition: HDFC Bank made waves globally by being the inaugural Indian bank to secure a listing on the New York Stock Exchange (NYSE), earning international acclaim.
4. Extensive ATM Network: HDFC Bank’s extensive network of ATMs spans the length and breadth of India, ensuring unparalleled accessibility for its customers.
5. The Epitome of Profitability: As the most profitable bank in India, HDFC Bank exemplifies financial stability and success.
6. NPA Prowess: Among all banks in India, HDFC Bank maintains one of the lowest Non-Performing Asset (NPA) ratios, testifying to its exceptional asset quality management.
7. Symbolism in the Logo: The bank’s distinctive logo is inspired by the Indian national flag, underscoring its deep-rooted connection to the nation.
8. Siemens – The First Corporate Borrower: Siemens holds the distinction of being HDFC Bank’s first corporate borrower, marking the beginning of its corporate lending journey.
9. Individual Borrower Chronicles: D.B. Remedios of Thane etches his name in history as HDFC Bank’s inaugural individual borrower, securing a loan of 35,000 rupees to construct a home.
These lesser-known facets unveil the multifaceted achievements and contributions of HDFC Bank, reinforcing its status as a vanguard in the Indian banking sector. As it continues to drive innovation and uphold its commitment to customer satisfaction, HDFC Bank remains at the forefront of India’s financial landscape.
