Page 30 - Hdfc Bank

HDFC Bank aims to double semi-urban, rural biz in four years, says official

HDFC Bank is targeting to double its semi-urban and rural (SURU) business in the next three to four years, a senior official said on Thursday. The country's largest private sector lender, however, did not share the present size of the SURU business on both assets and deposits front. The bank said already 52 per cent of its overall 7,821 branches are in SURU locations, and it will be adding another 675 branches over the next 12-14 months to take the SURU branches close to 5,000. Its country head for retail branch banking Arvind Vohra told reporters that SURU locations support over 70 per cent of the population, and the bank feels that it presents a big business opportunity. Vohra said the bank will be increasing its business in the SURU locations by expanding reach and also introducing stronger product propositions in the market, which are tailor-made keeping in mind the needs of the local population. The bank is also examining the possibility of adopting different loan underwritin

HDFC Bank to roll out e-distribution network, cover 50K more villages

There are 40-45 banking services like account opening, fixed deposits, loans that could be offered through the digital platform

Private sector banks likely to continue their hiring spree in FY24

ICICI, HDFC Bank added over 50,000 employees in FY23

S&P affirms HDFC Bank's long-term issuer credit rating at 'BBB-'

The bank's strong management and governance structure should help in the planned merger of mortgage lender Housing Development Finance Corporation Ltd (HDFC) with itself

After a decade in wilderness, Indian banks healthy, but still not cautious

With the incremental credit-to-deposit ratio running at 111%, Indian banks will have to pay more to savers - sacrificing some part of their high profitability

Bourses approves transfer of NCDs from HDFC Ltd to Bank as part of merger

HDFC Ltd on Wednesday said both stock exchanges BSE and NSE have approved the transfer of NCDs from the mortgage firm to HDFC Bank as part of the amalgamation process. BSE and NSE vide their letters dated April 26, 2023, granted their in-principle approval for the transfer of additional NCDs (non-convertible debentures) issued by HDFC Limited post receipt of the earlier approval on December 13, 2022, to HDFC Bank, the mortgage firm said in a regulatory filing. The proposed amalgamation is subject to receipt of final approvals from the Securities and Exchange Board of India (Sebi) in respect of change in control of certain subsidiaries of HDFC Limited, it added. This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of this financial year. Termed as the biggest transaction in India's corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about US

HDFC-HDFC Bank merger may pave way for Adani Enterprises' Sensex inclusion

LTIMindtree may get added to Nifty; merged HDFC Bank may see $4.9 bn inflows from passive tracker

HDFC Bank to buy stake in Griha, gets Singapore regulatory body's approval

The proposed agreement is subject to approval from the market regulator Sebi

Favourable terms

Lower cost of funds will help HDFC Bank after merger

In the run-up to merger: HDFC Bank gets RBI relief on PSL norms

Allows to raise stake in insurance JVs; No exemption on CRR/SLR

Sebi approves transfer of controlling stake of HDFC AMC to HDFC Bank

HDFC Ltd on Friday said market regulator Securities and Exchange Board of India (Sebi) has approved the proposed change of controlling stake in HDFC AMC to HDFC Bank as part of the scheme of amalgamation. Sebi through its letter dated April 21, 2023, to HDFC Asset Management Company Limited (HDFC AMC), a subsidiary of HDFC Limited and the asset management company of HDFC Mutual Fund (HDFC MF), has granted its approval for the proposed change in control of HDFC AMC, HDFC Ltd said in a regulatory filing. The regulator has also advised HDFC AMC to ensure compliance with all other provisions of Sebi (Mutual Funds) Regulations, 1996, and circulars, it added. This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of the next financial year. Termed as the biggest transaction in India's corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40

RBI approves appointment of Kaizad Bharucha as deputy MD of HDFC Bank

Central bank also approves Bhavesh Zaveri's appointment as private lender's executive director

HDFC Bank set to meet reserve ratio requirements post merger: Report

The $40 billion merger, announced last April, is expected to conclude by July, HDFC Bank's Chief Financial Officer Srinivasan Vaidyanathan told analysts at a conference call on Saturday

HDFC Bank stock's re-rating still some time away, say analysts

HDFC Bank shares: Analysts believe a re-rating in the stock would happen as and when more clarity emerges on the smooth merger with HDFC Ltd

Sensex snaps 9-day rally, sinks 520 pts; Infy cracks 9%; banks limit losses

CLOSING BELL: The BSE IT index plunged 4.7 per cent, while the FMCG and Bankex gained 1 per cent and 0.3 per cent, respectively. Midcap and SmaIlcap indices too outperformed in trades on Monday.

HDFC Bank recommends 1900% dividend from net profits of FY23

The dividend benefit was taken during the meeting held on Saturday during which HDFC Bank also fixed a record date for the said dividend

Mcap of 7 of top-10 most valued firms climb Rs 67,859 cr; ICICI Bank shines

Seven of the top-10 most valued firms together added Rs 67,859.77 crore in market valuation in a holiday-shortened last week, with ICICI Bank and HDFC Bank emerging as the biggest gainers. Last week, the 30-share BSE Sensex climbed 598.03 points or 0.99 per cent. Equity markets were closed on Friday (April 14) on account of Ambedkar Jayanti. From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, HDFC, ITC, State Bank of India and Bharti Airtel were the winners, while Tata Consultancy Services (TCS), Hindustan Unilever and Infosys were the laggards. The market valuation of ICICI Bank jumped Rs 17,188.25 crore to Rs 6,27,940.23 crore. HDFC Bank's valuation rallied Rs 15,065.31 crore to Rs 9,44,817.85 crore. The market valuation of HDFC climbed Rs 10,557.84 crore to Rs 5,11,436.51 crore and that of ITC zoomed Rs 10,190.97 crore to Rs 4,91,465.96 crore. Reliance Industries market capitalisation (mcap) surged Rs 9,911.59 crore to Rs 15,93,736.01 crore. The mcap of State B

Top headlines: HDFC Bank recommends 1900% dividend, Sec 144 imposed in UP

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HDFC Bank Q4 net profit up 19.8% to Rs 12,047 cr on healthy loan growth

The bank's total balance sheet expanded by 19.2% to Rs 24.6 trillion

HDFC Bank Q4 net rises 20% to Rs 12,594 cr, GNPA ratio improves to 1.12%

HDFC Bank on Saturday reported a 20.60 per cent growth in its consolidated net profit to Rs 12,594.47 crore for the March 2023 quarter. The country's largest private sector lender had reported a net profit of Rs 10,443.01 crore for the January-March period a year ago and Rs 12,698.32 crore in the preceding December quarter. For FY23, the bank reported a net profit of Rs 45,997.11 crore against Rs 38,052.75 crore in FY22. On a standalone basis, the bank reported a 19.81 per cent rise in its net profit to Rs 12,047.45 crore. Its overall income on a standalone basis grew to Rs 53,850 crore compared to Rs 41,086 crore in the year-ago period. The overall provisions for loan losses and other aspects stood at Rs 2,685.37 crore for the reporting quarter against Rs 3,312.35 crore a year ago. The gross non-performing assets ratio improved to 1.12 per cent at the end of March from 1.17 per cent a year ago and 1.23 per cent in December 2022.