HDFC Bank facts for kids
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Public | |
Traded as | |
ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=INE040A01034 INE040A01034] |
Industry | Banking Financial services |
Founded | August 1994 |
Headquarters |
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India
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Number of locations
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9,092 branches 20,993 ATMs |
Area served
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India |
Key people
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Products |
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Revenue | ![]() |
Operating income
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Total assets | ![]() |
Total equity | ![]() |
Number of employees
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214,521 (FY25) |
Subsidiaries | HDFC Life HDFC ERGO HDFC Securities HDFC AMC (HDFC Mutual Fund) HDB Financial Services HDFC Capital Advisors |
Footnotes / references Financials as of 31 March 2024[update]. |
HDFC Bank Limited is a very large Indian company. It helps people with their money and offers many financial services. Its main office is in Mumbai, India.
HDFC Bank is the biggest private bank in India. This is true when you look at its total assets and how much the company is worth. The Reserve Bank of India (RBI), which is India's central bank, says HDFC Bank is super important. It's one of the banks that are "too big to fail." This means it's very important for the country's economy.
In April 2024, HDFC Bank was worth about $145 billion. This made it the third-largest company listed on Indian stock exchanges. In 2023, it was also one of the biggest employers in India. It had over 173,000 employees after it joined with its parent company, Housing Development Finance Corporation.
Contents
History of HDFC Bank
HDFC Bank started in 1994. It was created by a company called HDFC Ltd. The Reserve Bank of India gave HDFC Ltd permission to start a new private bank. This was part of India's plan to make its banking system more open.
The bank officially began its work in January 1995. Its first main office and branch opened in Mumbai. The Union Finance Minister at the time, Manmohan Singh, opened this first office.
Important Mergers
HDFC Bank has grown by joining with other banks.
- In February 2000, Times Bank joined with HDFC Bank. This was the first time two banks in India voluntarily merged. Times Bank was started by a large media company called The Times Group.
- In July 2001, HDFC Bank's shares started trading on the New York Stock Exchange in the USA.
- In 2008, HDFC Bank bought Centurion Bank of Punjab (CBoP). This was a very big deal in India's financial world at that time.
- In 2021, HDFC Bank bought a small part of a company called Ferbine. This company was set up by Tata Group to create new ways for people to make payments across India.
HDFC Ltd and HDFC Bank Join Together
On April 4, 2022, HDFC Ltd announced it would merge with HDFC Bank. This was the biggest merger deal ever in India. As part of this, HDFC Ltd's home loan business moved to HDFC Bank. People who had deposits with HDFC Ltd could either take their money out or keep it with HDFC Bank.
The merger was completed on July 1, 2023. After this, HDFC Bank became one of the most valuable banks in the world. It was also one of the top 100 banking companies globally based on its total assets.
The combined company now serves 120 million customers. This is more people than the entire population of Germany. The number of employees also grew a lot, reaching 177,000 people. The merged bank became the second-largest bank in India. It has about 8,300 branches across the country.
How HDFC Bank Works

As of March 2024, HDFC Bank has a huge network. It has 8,735 branches and 20,938 ATMs. These are spread across 3,836 cities and villages in India. The offices of HDFC Ltd, which were 737 locations, are now part of the bank's network.
HDFC Bank is also the only private bank that has a branch in Lakshadweep. This is a group of islands that is a union territory of India. Its branch is on Kavaratti island.
Products and Services
HDFC Bank offers many different products and services. These help both individuals and businesses.
- Banking for individuals: This includes things like savings accounts, checking accounts, and loans for cars, motorcycles, or personal needs.
- Banking for businesses: HDFC Bank also helps large companies and small businesses with their financial needs.
- Credit Cards: They offer various credit cards for different uses.
- Digital Products: The bank has digital tools like PayZapp and SmartBUY. In 2024, they also launched the SmartWealth app to help people manage their money.
- Co-branded Cards: HDFC Bank has partnered with PhonePe to offer a special credit card. This card works with the Unified Payments Interface (UPI) for easy payments.
Digital Rupee
HDFC Bank is also involved with India's Digital rupee. On August 29, 2024, HDFC Bank added a new feature to its Digital Rupee Wallet. This feature lets users set rules for how their digital money can be spent. For example, you can make sure payments are used for a specific purpose. You can also set how long the digital rupee is valid or where it can be used.
Subsidiaries and Associates
HDFC Bank has several companies that are part of its group. These companies offer different financial services.
Name | Type | Ownership stake |
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HDFC Life | Life insurance | 50.37% |
HDFC ERGO | General insurance | 50.48% |
HDFC Asset Management Company | Mutual funds | 52.55% |
HDFC Securities | Stockbroking | 95.48% |
HDB Financial Services | Consumer finance | 94.84% |
HDFC Capital Advisors | Private equity real estate | 90% |
HDFC Credila | Education finance | 9.99% |

Stock Market Listings
The shares of HDFC Bank are traded on major stock exchanges in India. These include the Bombay Stock Exchange and the National Stock Exchange of India. Its shares are also listed on the NYSE in the United States.
See also
- Aditya Puri
- Banking in India
- List of banks in India
- List of companies of India