IVF had originally invested in the Centurion Bank of Punjab in March 2006, which got amalgamated with HDFC Bank with effect from May 2008.
HDFC Bank is the second largest private sector bank in India. The bank was founded by The Housing Development Finance Corporation Limited (“HDFC”) which is India's premier and arguably the most respected mortgage finance institution. In 1994 when the Reserve Bank of India (RBI) commenced liberalizing the banking industry, HDFC was one of the first institutions to receive a banking license.
Starting operations in 1995, the Bank has grown to be become a full service financial services organisation providing a large suite of wholesale and retail banking services.
Wholesale Banking Services:
The Bank's target segments include large corporate clients, small & mid-sized businesses and agri-based businesses. |
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For these customers, the Bank provides a wide range of commercial and transactional banking services, including working capital finance, trade services, transactional services, cash management, etc.
The Bank is recognized as a leading provider of cash management and transactional banking solutions to corporate customers, mutual funds, stock exchange members and banks.
Retail Banking Services:
The bank has a large retail distribution network, which has been further strengthened by the acquisition of Centurion Bank of Punjab. As of June 30, 2008, the Bank’s distribution network included 1,229 branches and 2,526 ATMs reaching 444 cities across India.
The Retail Bank provides its customers a full range of financial products and banking services, giving the customer a one-stop window for all his/her banking requirements. The products are backed by world-class service and delivered to the customers through the growing branch network, as well as through alternative
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delivery channels like ATMs, Phone Banking, NetBanking and Mobile Banking.
HDFC Bank has been the recipient of several awards. In 2007 alone the bank was awarded several awards including:
1) Best Bank award - Business Today;
2) Corporate Best bank - Dun and Bradstreet;
3) Best retail bank in India - Asian banker.
The Bank’s Managing Director Mr Aditya Puri was awarded the Asian Banker leadership achievement award 2006.
Detailed information on the company is
available at: www.hdfcbank.com
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