UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934
For the month of July, 2017
Commission File Number 001-15216
HDFC BANK LIMITED
(Translation of registrant’s name into English)
HDFC Bank House, Senapati Bapat Marg,
Lower Parel, Mumbai. 400 013, India
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes ☐ No ☒
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes ☐ No ☒
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ☐ No ☒
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-Not Applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| HDFC BANK LIMITED (Registrant) | ||||||
| Date: 25th July, 2017 | By | /s/ Sanjay Dongre | ||||
| Name: | Sanjay Dongre | |||||
| Title: | Executive Vice President (Legal) & Company Secretary | |||||
EXHIBIT INDEX
The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this Report pursuant to the General Instructions for Form 6-K.
Description
Communication dated 24th July, 2017 addressed to The New York Stock Exchange, New York, United States of America (USA) intimating about Outcome of Board Meeting held on 24th July, 2017.
24th July, 2017
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sir / Madam,
Re: Financial Results (Unaudited) for the Quarter ended 30th June, 2017
We attach herewith a file containing the Financial Results (unaudited) for the quarter ended 30th June, 2017 and segment-wise reporting. The results are duly approved by the Board at its meeting held today. The Press Release in this regard are also enclosed.
The aforesaid quarterly financial results (unaudited) have been submitted to the stock exchanges in India as per the listing requirements of those Stock Exchanges.
This is for your information and record.
Thanking you,
Yours faithfully,
For HDFC Bank Limited
Sd/-
Sanjay Dongre
Executive Vice President (Legal) &
Company Secretary
Encl. : a/a.
HDFC BANK LIMITED
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2017
(₹ in lacs)
| Particulars |
Quarter ended 30.06.2017 |
Quarter ended 31.03.2017 |
Quarter ended 30.06.2016 |
Year ended 31.03.2017 |
||||||||||||||
| Unaudited | Audited (Refer note 4) |
Unaudited | Audited | |||||||||||||||
| 1 | Interest Earned (a)+(b)+(c)+(d) | 1866872 | 1811440 | 1651602 | 6930596 | |||||||||||||
| a) Interest / discount on advances / bills | 1448606 | 1350745 | 1247081 | 5205526 | ||||||||||||||
| b) Income on Investments | 389297 | 426769 | 380924 | 1594434 | ||||||||||||||
| c) Interest on balances with Reserve Bank of India and other inter bank funds | 10820 | 16526 | 4021 | 53202 | ||||||||||||||
| d) Others | 18149 | 17400 | 19576 | 77434 | ||||||||||||||
| 2 | Other Income | 351666 | 344626 | 280661 | 1229649 | |||||||||||||
| 3 | Total Income (1)+(2) | 2218538 | 2156066 | 1932263 | 8160245 | |||||||||||||
| 4 | Interest Expended | 929798 | 905930 | 873458 | 3616674 | |||||||||||||
| 5 | Operating Expenses (i)+(ii) | 536746 | 522196 | 476886 | 1970332 | |||||||||||||
| i) Employees cost | 165751 | 155265 | 158517 | 648366 | ||||||||||||||
| ii) Other operating expenses | 370995 | 366931 | 318369 | 1321966 | ||||||||||||||
| 6 | Total Expenditure (4)+(5) (excluding Provisions & Contingencies) | 1466544 | 1428126 | 1350344 | 5587006 | |||||||||||||
| 7 | Operating Profit before Provisions and Contingencies (3)-(6) | 751994 | 727940 | 581919 | 2573239 | |||||||||||||
| 8 | Provisions (other than tax) and Contingencies | 155876 | 126180 | 86673 | 359330 | |||||||||||||
| 9 | Exceptional Items | — | — | — | — | |||||||||||||
| 10 | Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9) | 596118 | 601760 | 495246 | 2213909 | |||||||||||||
| 11 | Tax Expense | 206734 | 202751 | 171355 | 758943 | |||||||||||||
| 12 | Net Profit / (Loss) from Ordinary Activities after tax (10)-(11) | 389384 | 399009 | 323891 | 1454966 | |||||||||||||
| 13 | Extraordinary items (net of tax expense) | — | — | — | — | |||||||||||||
| 14 | Net Profit / (Loss) for the period (12)-(13) | 389384 | 399009 | 323891 | 1454966 | |||||||||||||
| 15 | Paid up equity share capital (Face Value of ₹ 2/— each) | 51478 | 51251 | 50701 | 51251 | |||||||||||||
| 16 | Reserves excluding revaluation reserves | 8894987 | ||||||||||||||||
| 17 | Analytical Ratios | |||||||||||||||||
| (i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | ||||||||||||||
| (ii) Capital Adequacy Ratio | 15.6% | 14.6% | 15.5% | 14.6% | ||||||||||||||
| (iii) Earnings per share (₹) | ||||||||||||||||||
| (a) Basic EPS before & after extraordinary items (net of tax expense)—not annualized | 15.2 | 15.6 | 12.8 | 57.2 | ||||||||||||||
| (b) Diluted EPS before & after extraordinary items (net of tax expense)—not annualized | 15.0 | 15.4 | 12.6 | 56.4 | ||||||||||||||
| (iv) NPA Ratios | ||||||||||||||||||
| (a) Gross NPAs | 724293 | 588566 | 492089 | 588566 | ||||||||||||||
| (b) Net NPAs | 252821 | 184399 | 149339 | 184399 | ||||||||||||||
| (c) % of Gross NPAs to Gross Advances | 1.24% | 1.05% | 1.04% | 1.05% | ||||||||||||||
| (d) % of Net NPAs to Net Advances | 0.44% | 0.33% | 0.32% | 0.33% | ||||||||||||||
| (v) Return on assets (average)—not annualized | 0.46% | 0.48% | 0.45% | 1.88% | ||||||||||||||
Segment information in accordance with the Accounting Standard on Segment Reporting (AS 17) of the operating segments of the Bank is as under:
(₹ in lacs)
| Particulars | Quarter ended 30.06.2017 |
Quarter ended 31.03.2017 |
Quarter ended 30.06.2016 |
Year ended 31.03.2017 |
||||||||||||||
| Unaudited | Audited (Refer note 4) |
Unaudited | Audited | |||||||||||||||
| 1 | Segment Revenue | |||||||||||||||||
| a) | Treasury | 530618 | 591301 | 502324 | 2158179 | |||||||||||||
| b) | Retail Banking | 1759229 | 1683063 | 1585264 | 6614750 | |||||||||||||
| c) | Wholesale Banking | 880693 | 797989 | 761527 | 3133224 | |||||||||||||
| d) | Other Banking Operations | 255117 | 263975 | 194967 | 904669 | |||||||||||||
| e) | Unallocated | — | — | — | — | |||||||||||||
| Total | 3425657 | 3336328 | 3044082 | 12810822 | ||||||||||||||
| Less: Inter Segment Revenue | 1207119 | 1180262 | 1111819 | 4650577 | ||||||||||||||
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| Income from Operations | 2218538 | 2156066 | 1932263 | 8160245 | ||||||||||||||
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| 2 | Segment Results | |||||||||||||||||
| a) | Treasury | 30770 | 29483 | 49173 | 130838 | |||||||||||||
| b) | Retail Banking | 212238 | 222172 | 189469 | 843216 | |||||||||||||
| c) | Wholesale Banking | 297159 | 272606 | 232716 | 1047377 | |||||||||||||
| d) | Other Banking Operations | 98107 | 109334 | 58521 | 336533 | |||||||||||||
| e) | Unallocated | (42156 | ) | (31835 | ) | (34633 | ) | (144055 | ) | |||||||||
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| Total Profit Before Tax | 596118 | 601760 | 495246 | 2213909 | ||||||||||||||
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| 3 | Segment Assets | |||||||||||||||||
| a) | Treasury | 26693645 | 26453614 | 24319155 | 26453614 | |||||||||||||
| b) | Retail Banking | 31457133 | 29582892 | 26255629 | 29582892 | |||||||||||||
| c) | Wholesale Banking | 27861737 | 27096909 | 22318870 | 27096909 | |||||||||||||
| d) | Other Banking Operations | 3041526 | 2720588 | 2204164 | 2720588 | |||||||||||||
| e) | Unallocated | 511265 | 530018 | 465278 | 530018 | |||||||||||||
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| Total | 89565306 | 86384021 | 75563096 | 86384021 | ||||||||||||||
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| 4 | Segment Liabilities | |||||||||||||||||
| a) | Treasury | 7242832 | 7385749 | 6102078 | 7385749 | |||||||||||||
| b) | Retail Banking | 53718130 | 52579290 | 46701569 | 52579290 | |||||||||||||
| c) | Wholesale Banking | 16058698 | 15612990 | 12807800 | 15612990 | |||||||||||||
| d) | Other Banking Operations | 360425 | 314274 | 264259 | 314274 | |||||||||||||
| e) | Unallocated | 2759448 | 1545480 | 2050833 | 1545480 | |||||||||||||
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| Total | 80139533 | 77437783 | 67926539 | 77437783 | ||||||||||||||
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| 5 | Capital Employed | |||||||||||||||||
| (Segment Assets-Segment Liabilities) | ||||||||||||||||||
| a) | Treasury | 19450813 | 19067865 | 18217077 | 19067865 | |||||||||||||
| b) | Retail Banking | (22260997 | ) | (22996398 | ) | (20445940 | ) | (22996398 | ) | |||||||||
| c) | Wholesale Banking | 11803039 | 11483919 | 9511070 | 11483919 | |||||||||||||
| d) | Other Banking Operations | 2681101 | 2406314 | 1939905 | 2406314 | |||||||||||||
| e) | Unallocated | (2248183 | ) | (1015462 | ) | (1585555 | ) | (1015462 | ) | |||||||||
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| Total | 9425773 | 8946238 | 7636557 | 8946238 | ||||||||||||||
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Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by RBI.
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
Notes :
| 1 | Statement of Assets and Liabilities as at June 30, 2017 is given below. |
| (₹ in lacs) | ||||||||||||
| Particulars |
As at 30.06.2017 |
As at 30.06.2016 |
As at 31.03.2017 |
|||||||||
| CAPITAL AND LIABILITIES | Unaudited | Unaudited | Audited | |||||||||
| Capital |
51478 | 50701 | 51251 | |||||||||
| Reserves and Surplus |
9374295 | 7585856 | 8894987 | |||||||||
| Deposits |
67137605 | 57375453 | 64363966 | |||||||||
| Borrowings |
8601170 | 6943093 | 7402887 | |||||||||
| Other Liabilities and Provisions |
4400758 | 3607993 | 5670930 | |||||||||
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|||||||
| Total |
89565306 | 75563096 | 86384021 | |||||||||
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|||||||
| ASSETS |
||||||||||||
| Cash and Balances with Reserve Bank of India |
3620417 | 3152531 | 3789687 | |||||||||
| Balances with Banks and Money at Call and Short notice |
2076642 | 1188191 | 1105523 | |||||||||
| Investments |
21610827 | 20374997 | 21446334 | |||||||||
| Advances |
58097580 | 47062247 | 55456820 | |||||||||
| Fixed Assets |
359321 | 347688 | 362675 | |||||||||
| Other Assets |
3800519 | 3437442 | 4222982 | |||||||||
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| Total |
89565306 | 75563096 | 86384021 | |||||||||
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| 2 | The above results have been approved by the Board of Directors at its meeting held on July 24, 2017. The results for the quarter ended June 30, 2017 have been subjected to a "Limited Review" by the Statutory Auditors of the Bank. An unqualified report has been issued by them thereon. |
| 3 | The Bank has followed the same significant accounting policies in the preparation of these financial results as those followed in the annual financial statements for the year ended March 31, 2017. |
| 4 | The figures for the quarter ended March 31, 2017 are the balancing figures between audited figures in respect of the financial year 2016-17 and the published year to date figures upto December 31, 2016. |
| 5 | During the quarter ended June 30, 2017, the Bank allotted 11337600 shares pursuant to the exercise of options under the approved employee stock option schemes. |
| 6 | During the quarter ended June 30, 2017, the Bank raised Additional Tier 1 Capital bonds of ₹ 8,000 crore and Tier 2 Capital bonds of ₹ 2,000 crore. |
| 7 | During the quarter ended June 30, 2017, of the total increase in gross NPAs, 60% pertained to the agricultural segment. As a prudent measure, the Bank has enhanced specific provision coverage for its non-performing agricultural advances. |
| 8 | Pursuant to RBI circular FMRD.DIRD.10/14.03.002/2015-16 dated May 19, 2016, the Bank has included its repo / reverse repo transactions under Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) with RBI under 'Borrowings from RBI' / 'Balances with RBI', as the case may be. Hitherto, these transactions were netted from / included under ‘Investments’. Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current period's classification. The above change in classification has no impact on the profit of the Bank for the periods presented. |
| 9 | RBI circular DBOD.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015 on 'Basel III Capital Regulations' read together with the RBI circular DBR.No.BP.BC.80/21.06.201/2014-15 dated March 31, 2015 on 'Prudential Guidelines on Capital Adequacy and Liquidity Standards - Amendments' requires banks to make applicable Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III Framework. These disclosures are available on the Bank's website at the following link: http://www.hdfcbank.com/aboutus/basel_disclosures/default.htm. The disclosures have not been subjected to audit or review by the statutory auditors. |
| 10 | Other income relates to income from non-fund based banking activities including commission, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments and recoveries from accounts written off. |
| 11 | As at June 30, 2017, the total number of branches (including extension counters) and ATM network stood at 4727 branches and 12220 ATMs respectively. |
| 12 | Figures of the previous period have been regrouped / reclassified wherever necessary to conform to current period's classification. |
| 13 | ₹ 10 lac = ₹ 1 million |
| ₹ 10 million = ₹ 1 crore |
| Place : Mumbai |
Aditya Puri | |
| Date : July 24, 2017 |
Managing Director |
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
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NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013. |
HDFC Bank Limited
FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER ENDED JUNE 30, 2017
The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter ended June 30, 2017, at their meeting held in Mumbai on Monday, July 24, 2017. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.
FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended June 30, 2017
The Bank’s total income for the quarter ended June 30, 2017 was ₹ 22,185.4 crore, up from ₹ 19,322.6 crore for the quarter ended June 30, 2016. Net revenues (net interest income plus other income) increased by 21.7% to ₹ 12,887.4 crore for the quarter ended June 30, 2017 from ₹ 10,588.1 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended June 30, 2017 grew by 20.4% to ₹ 9,370.7 crore, from ₹ 7,781.4 crore for the quarter ended June 30, 2016, driven by average loan growth of 20.7% and a core net interest margin for the quarter of 4.4%.
Other income (non-interest revenue) at ₹ 3,516.7 crore was 27.3% of the net revenues for the quarter ended June 30, 2017 and grew by 25.3% over ₹ 2,806.6 crore in the corresponding quarter ended June 30, 2016. The four components of other income for the quarter ended June 30, 2017 were fees & commissions of ₹ 2,578.1 crore (₹ 1,977.9 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 296.8 crore (₹ 314.5 crore for the corresponding quarter of the previous year), gain on revaluation / sale of investments of ₹ 331.4 crore (₹ 276.9 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹ 310.3 crore (₹ 237.4 crore for the corresponding quarter of the previous year).
Operating expenses for the quarter ended June 30, 2017 were ₹ 5,367.5 crore, an increase of 12.6% over ₹ 4,768.9 crore during the corresponding quarter of the previous year. The core cost-to-income ratio for the quarter was at 42.7% as against 46.2% for the corresponding quarter ended June 30, 2016.
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NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013. |
Provisions and contingencies for the quarter ended June 30, 2017 were ₹ 1,558.8 crore (consisting of specific loan loss provisions ₹ 1,343.2 crore, general provisions ₹ 206.3 crore and other provisions ₹ 9.3 crore) as against ₹ 866.7 crore (consisting of specific loan loss provisions ₹ 832.3 crore, general provisions of ₹ 1.1 crore and other provisions ₹ 33.3 crore) for the corresponding quarter ended June 30, 2016. General provisions include additional provisions of ₹ 121.1 crore for standard advances to stressed sectors. Profit before tax was up 20.4% to ₹ 5,961.2 crore. After providing ₹ 2,067.3 crore for taxation, the Bank earned a net profit of ₹ 3,893.8 crore, an increase of 20.2% over the quarter ended June 30, 2016.
Balance Sheet: As of June 30, 2017
Total balance sheet size as of June 30, 2017 was ₹ 895,653 crore as against ₹ 755,631 crore as of June 30, 2016.
Total deposits as of June 30, 2017 were ₹ 671,376 crore, an increase of 17.0% over June 30, 2016. CASA deposits saw healthy growth with savings account deposits growing by 26.5% over the previous year to reach ₹ 193,105 crore and current account deposits growing by 34.1% over the previous year to reach ₹ 102,030 crore. Time deposits were at ₹ 376,241 crore, an increase of 9.1% over the previous year, resulting in CASA deposits comprising 44.0% of total deposits as on June 30, 2017.
Advances as of June 30, 2017 were ₹ 580,976 crore, an increase of 23.4% over June 30, 2016. As per regulatory [Basel 2] segment classification, retail loans grew by 21.9% and wholesale loans grew by 25.5% (as per internal business classification, the growth was 19.2% and 33.8% respectively). The loan mix between retail:wholesale was 54:46.
Capital Adequacy:
During the quarter ended June 30, 2017, the Bank raised Additional Tier 1 Capital Bonds of ₹ 8,000 crore and Tier 2 Bonds of ₹ 2,000 crore. The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 15.6% as on June 30, 2017 (15.5% as on June 30, 2016) as against a regulatory requirement of 10.25% including Capital Conservation Buffer of 1.25%. Tier-I CAR was at 13.6% as of June 30, 2017 compared to 13.3% as on June 30, 2016. Risk-weighted Assets were ₹ 690,370 crore (₹ 551,676 crore as on June 30, 2016).
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NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013. |
NETWORK
As of June 30, 2017, the Bank’s distribution network was at 4,727 branches and 12,220 ATMs across 2,666 cities / towns as against 4,541 branches and 12,013 ATMs across 2,593 cities / towns as of June 30, 2016. Of the total branches, 52% are in semi-urban and rural areas.
ASSET QUALITY
Gross non-performing assets were at 1.24% of gross advances as on June 30, 2017, as against 1.05% as on March 31, 2017, and 1.04% as on June 30, 2016. During the quarter ended June 30, 2017, of the total increase in gross NPAs, 60% pertained to the agricultural segment. Recoveries from agricultural advances were impacted during the quarter by borrower expectations of farm loan waivers arising out of policy announcements in certain states. These loan waiver policies are in the process of being finalised and implemented. As a prudent measure, the Bank has enhanced specific provision coverage for its non-performing agricultural advances. Net non-performing assets were at 0.4% of net advances as on June 30, 2017.
Note:
₹ = Indian Rupees
1 crore = 10 million
All figures and ratios are in accordance with Indian GAAP.
BSE: 500180
NSE: HDFCBANK
NYSE: HDB
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NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013. |
Certain statements are included in this release which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions, that are “forward-looking statements.” Actual results may differ materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for various banking services, future levels of our non-performing loans, our growth and expansion, the adequacy of our allowance for credit and investment losses, technological changes, volatility in investment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changes in banking regulations and other regulatory changes on us in India and other jurisdictions, our ability to roll over our short-term funding sources and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to: general economic and political conditions, instability or uncertainty in India and the other countries which have an impact on our business activities or investments caused by any factor, including terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks by the United States, a United States-led coalition or any other country, tensions between India and Pakistan related to the Kashmir region or between India and China, military armament or social unrest in any part of India; the monetary and interest rate policies of the government of India, natural calamities, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices; the performance of the financial markets in India and globally, changes in Indian and foreign laws and regulations, including tax, accounting and banking regulations, changes in competition and the pricing environment in India, and regional or general changes in asset valuations.
For more information please log on to: www.hdfcbank.com
For media queries please contact:
Neeraj Jha
Head, Corporate Communication
HDFC Bank Ltd., Mumbai.
Tel: 91 – 22 – 6652 1308 (D) / 6652 1000 (B)
Fax: 91 – 22 – 2490 3168
Mobile: +91 93236 20828
neeraj.jha@hdfcbank.com
For investor queries please contact:
Bhavin Lakhpatwala
HDFC Bank Ltd., Mumbai.
Tel: 91 – 22 – 6652 1083 (D) / 6652 1000 (B)
Mobile: +91 74983 51730
bhavin.lakhpatwala@hdfcbank.com