19-09-2012, 05:02 PM
INTRODUCTION OF HDFC BANK
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HISTORY
HDFC Bank was incorporated in 1994 by Housing Development Finance Corporation Limited (HDFC), India‘s largest housing finance company. It was among the first companies to receive an 'in principle' approval from Bank of India (RBI) to set up a bank in the private sector. The Bank started operations as a scheduled commercial bank in January 1995 under the RBI's liberalisation policies.Times Bank Limited (owned by Bennett, Coleman &
Co. / Times Group) was merged with HDFC Bank Ltd., in2000. This was the first merger of two private banks in India. In 2008 HDFC Bank acquired Centurion Bank of Punjab taking its total branches to more than 1,000.
PROMOTERS
HDFC is India's premier housing finance company and enjoys a sound track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.
BUSINESS FOCUS
HDFC Bank's mission is to be a World-Class Indian Bank.
The objective is to provide favourable and best banking facilities for the target customers in retail and wholesale . and maximize profitability.
The bank is committed to maintain the highest level of ethical standards, professional integrity and corporate governance
HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.
MANGEMENT
Mr. C.M. Vasudev has been appointed as the Chairman of the Bank with effect from 6th July 2010. Mr. Vasudev has been a Director of the Bank since October 2006. A retired IAS officer, Mr. Vasudev has had an illustrious career in the civil services and has held several key positions in India and overseas, including Finance Secretary, Government of India, Executive Director, World Bank and Government nominee on the Boards of many companies in the financial sector. The Managing Director, Mr. Aditya Puri, has been a professional banker for over 25 years, and before joining HDFC Bank in 1994 was heading Citibank's operations in Malaysia.
AWARDS
HDFC Bank has won so many awards since its functioning ,here is the list of important awards that HDFC Bank has won over the years
YEAR 2010
FORBES ASIA has included HDFC Bank in the Fab-50 Companies of Asia for the 5th consecutive year.
In 2010 HDFC won the Outlook Money Awards for the Best Bank .
YEAR 2011
In 2011 HDFC Bank won the Euro Money Award for Excellence for the Best Bank in India.
In 2011 HDFC Bank won the Asian Banker Award for the Strongest Bank in Asia Pacific.