MIRA
INFORM REPORT
|
Report Date : |
02.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
HDFC BANK LIMITED |
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Registered Office : |
HDFC Bank House,
Senapati Bapat Marg, Lower Parel, Mumbai – 400013, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
30.08.1994 |
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CIN No.: [Company
Identification No.] |
L65920MH1994PLC080618 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMH03189E /
MUMH08037B |
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PAN No.: [Permanent
Account No.] |
AAACH2702H |
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Legal Form : |
It is a Public Limited
Liability Bank. The banks shares are
listed on the Stock Exchanges. |
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Line of Business : |
Corporate Banking Consisting of Working Capital Finance,
Trade Service and Cash Management Treasury. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Maximum Credit Limit : |
USD 200000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an
established and highly successful commercial bank in a private sector. Available information indicates high
financial responsibility of the Bank.
Fundamentals are strong and healthy.
Trade relations are fair.
Payments are correct and as per commitments. The Bank can be
considered good for any normal business dealings. It can be regarded as a promising business
partner in a medium to long run. |
LOCATIONS
|
Registered Office : |
HDFC Bank House,
Senapati Bapat Marg, Lower Parel, Mumbai – 400013, |
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Tel. No.: |
91-22-66521000 |
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Fax No.: |
91-22-24960737 |
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Website : |
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Branches : |
western zone
q Mumbai §
101-104 Tulsiani Chambers, Free Press Marg,
Nariman Point, Mumbai – 400 021, Tel. No. 91-22-2285 1515 Fax No. 91-22-2285 5949 §
Mistry Bhavan, Tel. No. 91-22-2204 5634 / 2284 5214 Fax No. 91-22-2204 5658 §
Tirupati Apartments, Shop No. 10, Tel. No. 91-22-2496 2525 / 2496 1318 Fax No. 91-22-2496 1383 §
Sandoz House, Tel. No. 91-22-2495 1616 Fax No. 91-22-2495 1771 §
“EL-DORADO”, Narayan Dhuru Marg, Prabhadevi,
Mumbai – 400 025, Tel. No. 91-22-2431 6902 / 6903 / 6904 Fax No. 91-22-431 6905 §
Tel. No. 91-22-2446 9378 / 9374 / 93 § Shop No. 3, Ground Floor, Pali Hill Navroz Premises Co-operative Society Limited, 66, Pali Hill Road, Bandra (West), Mumbai – 400 050, Maharashtra, India Tel. No. 91-22-2604 1863 / 1933 Fax No. 91-22-2604 1964 §
Swagatam, Opp. Khar Police Station, Tel. No 91-22-2605 1122 / 1414 / 2649 9286 §
The Amaltas Co-operative Society Limited, Tel. No. 91-22-2625 0740 / 0741 / 2628 6152 Fax No. 91-22-2625 0740 §
“Arbour” 180-A, Tel. No. 91-22-2888 7425 Fax No. 91-22-2888 7423 §
Pooja Apartments, Evershine Nagar, Vasai (East),
Thane (District), Maharashtra, §
Shop No. 4/7, Vishnu-Pratibha Complex, Tel. No. 91-22-912-507942 / 5 / 6 §
Ground Floor, Maya, 15th Road,
Chembur, Mumbai – 400 071, Tel. No. 91-22-2528 2557 / 2528 4013 Fax No. 91-22-2528 2545 § Flat S-18, Mulund Industrial Services, C. H. S. L. Nahur Road, Opp. Galanagar, Mulund (West), Mumbai – 400 080, Maharashtra, India Tel. No. 91-22-2590 7239 / 2590 7237 Fax No. 91-22-2768 1877 §
HDFC Annexe, Plot No. 82, Sector 17, Vashi,
Navi Mumbai – 400 703, Tel. No. 91-22-2768 2081 / 1544 / 1110 / 1348 Fax No. 91-22-2768 1877 q Patalganga §
Tel. No. 91-2192-2551859 / 255196 / 255197 / 255203 Fax No. 91-2192-255202 q Pune § Plot No. 148/B, Netrali Apartments, CTS No. 309, Shivaji Nagar, Law College Road, Pune – 411 004, Maharashtra, India Tel. No. 91-20-2350678 / 351334 / 351736 Fax No. 91-20-2350720 §
9/2 Tel. No. 91-20-2604290 / 604291 Fax No. 91-20-2604295 §
“Puspak”, 90 Anand Park, §
3/ 4, Mayurpankh, Survey No. 8, Mithanagar,
Kondhwe Khurd, Pune – 411 048, Tel. No. 91-20-2676416 / 2676192 / 2616953 Fax No. 91-20-2676192 q
§
Plot No. 27, Opp. Babu Naik House, Aquem, Margo,
Goa – 403 601, Tel. No. 91-832-2712800 / 2724065 §
Plot No. 41 / 42, 16th June Road,
Panjim, (Opening Shortly) q Ahmedabad §
HDFC House, 1st Floor, Near
Mithakhali Six Roads, Navrangpura, Ahmedaba – 380 009, Tel. No. 91-79-2656 3465 / 2656 4932 / 4934 Fax No. 91-79-2656 3464 §
ASE Premises Basement, Kamdhenu Complex,
Ambawadi, Ahmedabad, Tel. No. 91-79-26426356 §
Silicon Valley Co-operative Housing Society
Limited, Near Jay Shefali Row Houses, Tel. No. 91-2641-256102 §
Bodakdev, BPL House, Drive in Road, q Dahej §
IPCL Gandhar Petrochemical Complex, P. O.
Dahej 392 130, Tel. No. 91-2647-256105 / 56104 Fax No. 91-2647-256098 q Vadodara §
Arun Complex, 36, Alkapuri Society, north zone
q
§
Hindustan Times House, 5th Floor,
18/20, K. G. Marg, Tel. No. 91-11-2373 1212 Fax No. 91-11-2372 5993 §
M-44, Greater Kailash II Market, Tel. No 91-11-2623 3389 / 3390 / 3388 §
79, Old Rajinder Nagar Market, Tel. No. 91-11-2578 7249 §
Safdarjung Dev. Area, C-5, SDA Commercial
Complex, Tel. No. 91-11-2652 6750 / 51 / 52 / 53 Fax No. 91-11-2652 6755 §
Extension Counter, Tel. No. 91-11-2615 1280 / 2615 1281 Fax No. 91-11-2652 6755 §
HDFC House, B6/3, Safdarjung Enclave, Opp. Tel. No. 91-11-2619 1989 / 1992 / 2617 3343 Fax No. 91-11-2619 1990 §
D-1, Shopping Centre 2, Vasant Vihar, Tel. No. 91-11-2614 0894 / 2614 0996 Fax No. 91-11-2614 9222 §
13, Local Shopping Area, Block J, Saket, Tel. No. 91-11-2656 3409 Fax No. 91-11-2656 3345 q
§
SCO 371/372, Sector 35B, Tel. No. 91-172-2646154 / 5 / 6 / 7 Fax No. 91-172-2646229 q Ludiana §
First Mall, The Mall, Tel. No. 91-161-422341 / 2 / 3 / 4 Fax No. 91-161-422345 q Jalandhar §
Delta Chambers, Lower Ground Floor, 35, q Gurgaon §
12, DLF Shopping Mall, DLF Phase – I, Gurgaon,
Tel. No. 91-124-2358801 / 4 q
§ Ground Floor, U. V. House, 9/1A South Tukoganj, Indore – 452 001, Madhya Pradesh, India Tel. No. 91-731-2521 211 / 12 / 13 / 14 Fax No. 91-731-2521218 south zone
q
§
6-1-70, Lakdikapul, Hotel Ashoka Complex, Tel. No. 91-40-2230053 / 059 / 471 Fax No. 91-40-2230349 § Chandanagar, Serilingampally Mandal, Rangareddy District – 500 032 q Secunderabad §
Usha Kiran Complex, Tel. No. 91-40-2810 155 / 810 157 Fax No. 91-40-2810161 q
§
1st Floor, Potluri Castly, (Above
Raymond Show Room), Dwarka Nagar, Vishakhapatnam – 530 016, Tamil Nadu, Tel. No. 91-891-2501652 / 3 / 2501658 q
§
CC 39/5478, Ravipuram, Tel. No. 91-484-238036 / 3691469 Fax No. 91-484-2380394 q Chennai §
ITC Centre, Tel. No. 91-44-2855 1313 / 855 1212 / 855 0444 Fax No. 91-44-2855 0233 §
Arunachala Apartments Plot No. 12, Tel. No. 91-44-2491 4360 / 490 1345 / 1346 Fax No. 91-44-2490 1345 § Block “Y”, Number 206, Plot No. 4522, Anna Nagar, Chennai – 600 040, Tamil Nadu, India Tel. No. 91-44-2628 7445 / 446 Fax No. 91-44-2628 7448 §
Plot No. 8, Tel. No. 91-44-2486 8601-5 q
§
Damodar Centre, 1049-50, Tel. No. 91-422-2213713 / 215641 Fax No. 91-422-2215605 q
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24/3 HDFC House, Tel. No. 91-80-2227 5571-5 Fax No. 91-80-2221 6874 §
63/1, 3rd Main, 18th
Cross, Malleshwaram, Tel. No. 91-80-2346 1462 / 9 §
No.6, Royal Arcade, Koramangala Industrial
Area, Koramangla, east zone
q
§
Stephen House, 4, BBD Bag (East), Tel. No. 91-33-22810813 / 0824/ 22803517 / 3516 / 3518 Fax No. 91-33-2243 0618 §
9B, Tel. No. 91-33-2280 3515-24 Fax No. 91-33-2240 9202 § BA3, Salt Lake, Next to Punjab National Bank, Calcutta, West Bengal, India Tel. No. 91-33-2358 3203-4 / 3635 / 91 / 2334 0212 Fax No. 91-33-2358 4320 §
132/A, Southern Avenue, Opp. Ramkrishna
Mission, Tel. No. 91-33-2463 1318-5 Fax No. 91-33-2463 3940 §
Rohini, Tel. No. 91-33-2463 2047 Fax No. 91-33-2538 9071 §
Dhariwal House, Tel. No. 91-33-2594 500 / 02 / 499 / 559 4525 |
DIRECTORS
|
Name : |
Mr. Jagdish
Capoor |
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Designation : |
Chairman |
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Name : |
Mr. Aditya Puri |
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Designation : |
Managing Director
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Name : |
Mr. Keki Mistry |
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Designation : |
Director |
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Name : |
Mr. Venkat Rao
Gadwal |
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Designation : |
Director |
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Name : |
Mr. Vineet Jain |
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Designation : |
Director |
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Name : |
Mr. Renu Kamad |
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Designation : |
Director |
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Name : |
Mr. Arvind Pande |
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Designation : |
Director |
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Name : |
Mr. Bobby Parikh |
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Designation : |
Director |
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Name : |
Mr. Ashim Samanta |
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Designation : |
Director |
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Name : |
Mr. Sanjay Dongre |
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Designation : |
Company Secretary |
SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Promoters i. Housing
Development Finance Corporation Limited ii. HDFC
Investments Limited iii. HDFC
Holdings Limited |
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3,88,60,000 3,00,00,000 1,000 |
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Foreign Institutional
Investors i. Crown
Capital Limited ii. DBS
Bank Limited iii. FID
Funds [ iv. Small
Cap World Fund Inc v. J P
Morgan Fleming Asset Management [ S A R L A/c Flagship Indian Investment
Company [ vi. The
New Economy Fund vii.
Morgan Stanley & Company International Limited A/c. Morgan Stanley Dean Writter Mauritius Company Limited vi. Others
(less than 1%) |
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1,54,89,634 1,16,20,886 61,88,781 52,06,500 40,48,636 37,46,000 31,84,944 5,22,31,095 |
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C. ADS
Depository (J. P. Morgan Chase Bank) |
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6,03,42,747 |
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D.
Bennett, Coleman Group i.
Bennett, Coleman & Co. Limited ii.
Dharmayug Investments Limited iii.
Satyam Properties Finance Limited iv.
Vardhaman Publishers Limited v. Bharat Nidhi Limited vi. PNB
Finance Industries Limited vii. Samir
Jain viii.
Times Publishing House Limited ix.
Rajdhani Printers Limited |
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88,49,929 24,86,956 17,39,130 17,39,130 5,73,913 4,31,743 2,60,869 75,956 34,782 |
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E. Life Insurance
Corporation of |
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95,18,096 |
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F. Other
Bodies Corporates |
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63,01,529 |
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G.
Indocean Financial Holding Limited |
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39,82,752 |
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H. Banks,
Mutual Funds and Financial
Institutions |
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53,63,370 |
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I.
Overseas Corporate Bodies i. Jarrington
Re. Ltd. ii. Others |
|
12,55,330 1,800 |
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J. GIC
& its Subsidiaries |
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12,38,557 |
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K.
Directors |
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5,75,942 |
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L. NRI's with
repatriation without
repatriation |
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2,82,781 2,66,202 |
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M. Others |
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3,72,07,918 |
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TOTAL |
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31,31,42,408 |
BUSINESS DETAILS
|
Line of Business : |
Corporate Banking Consisting of Working Capital Finance,
Trade Service and Cash Management Treasury. |
GENERAL INFORMATION
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No. of Employees : |
14878 |
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Bankers : |
Reserve Bank of |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
P. C. Hansotia
& Company Chartered
Accountants |
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Promoter : |
Housing
Development Finance Corporation Limited |
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Associates : |
Ø
HDFC Asset
Management Company Limited Ø
HDFC
Standard Life Insurance Company Limited Ø
HDFC
Developers Limited Ø
HDFC
Holdings Limited Ø
HDFC
Investments Limited Ø
HDFC
Trustee Company Limited Ø
GRUH
Finance Limited Ø
HDFC
Realty Limited Ø
HDFC
Chubb General Insurance Company Limited Ø
HDFC
Venture Capital Limited Ø
HDFC
Ventures Trustee Company Limited Ø
Home
Loan Services India Private Limited Ø
Computer
Age Management Services Private Limited Ø
Solution
NET India Private Limited Ø
Softcell
Technologies Limited Ø
Atlas
Documentary Facilitators Company Private Limited Ø
Flexcel
International Private Limited Ø
HBL
Global Private Limited |
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Subsidiaries : |
HDFC Securities
Limited [From September 28, 2005, associate up to that date] |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
450000000 |
Equity Shares |
Rs. 10/- each |
Rs. 4500.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
313142408 |
Equity Shares |
Rs. 10/- each |
Rs. 3131.400 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
|
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|
|
CAPITAL AND LIABILILITES |
|
|
|
|
Capital |
3131.400 |
3098.800 |
2847.900 |
|
Reserves and surplus |
49863.900 |
42099.700 |
24070.900 |
|
Employee’s stock options [grants] outstanding |
0.700 |
4.300 |
0.000 |
|
Deposits |
557968.200 |
363542.500 |
304088.600 |
|
Borrowing |
28584.800 |
47900.100 |
23078.200 |
|
Subordinated debt |
17020.000 |
5000.000 |
0.000 |
|
Other Liabilities &
Provisions |
78494.900 |
52644.600 |
69714.200 |
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|
|
|
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TOTAL |
735063.900 |
514290.000 |
423799.800 |
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ASSETS |
|
|
|
Cash & Balances
with Reserve Bank of
|
33066.100 |
26501.300 |
25419.800 |
Balances with Banks
& money at Call & Short Notice
|
36123.900 |
18238.700 |
10089.000 |
Investments
|
283939.600 |
193498.100 |
193634.600 |
Advances
|
350612.600 |
255663.000 |
177445.100 |
Fixed Assets
|
8550.800 |
7083.200 |
6169.100 |
Other Assets
|
22770.900 |
13305.700 |
11042.200 |
|
|
|
|
|
TOTAL
|
735063.900 |
514290.000 |
423799.800 |
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
55993.200 |
37448.300 |
30403.200 |
|
|
|
|
|
|
Net Profit for the year |
8707.800 |
6655.600 |
5095.000 |
|
|
|
|
|
|
Total Expenditure |
47285.400 |
30792.700 |
25308.200 |
SUMMARISED RESULTS
|
PARTICULARS |
|
|
31.03.2007 Full Year |
|
Sales
Turnover |
|
|
68890.200 |
|
Other
Income |
|
|
15162.300 |
|
Total
Income |
|
|
84052.500 |
|
Total
Expenditure |
|
|
33674.500 |
|
Operating
Profit |
|
|
50378.000 |
|
Interest |
|
|
31794.500 |
|
Gross
Profit |
|
|
18583.500 |
|
Depreciation |
|
|
2196.000 |
|
Tax |
|
|
4973.000 |
|
Reported
PAT |
|
|
11414.500 |
|
Dividend
(%) |
|
|
700.000 |
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Credit Deposit Ratio |
65.79 |
64.87 |
55.89 |
|
Investment Deposit Ratio |
51.81 |
57.99 |
62.05 |
|
Cash Deposit Ratio |
6.46 |
7.78 |
8.76 |
|
Interest Expended/Interest Earned |
43.11 |
42.53 |
47.51 |
|
Other Income/Total Income |
21.33 |
19.12 |
16.16 |
|
Operating Expense/Total Income |
31.30 |
30.46 |
27.02 |
|
Interest Income/Total Funds |
7.16 |
6.59 |
7.00 |
|
Interest Expended /Total Funds |
3.08 |
2.80 |
3.32 |
|
Net Interest Income/Total Funds |
4.07 |
3.79 |
3.67 |
|
Non Interest Income/Total Funds |
1.94 |
1.56 |
1.35 |
|
Operating Expense/Total Income |
2.85 |
2.48 |
2.25 |
|
Profit Before Provisions/Total Funds |
3.16 |
2.86 |
2.77 |
|
Net Profit/Total Funds |
1.39 |
1.42 |
1.40 |
|
Return On Net Worth(%) |
17.74 |
18.46 |
20.64 |
STOCK PRICES
|
Face Value |
Rs. 10.00/- |
|
High |
Rs. 2745.65/- |
|
Low |
Rs. 717.00/- |
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
HDFC Bank
was incorporated in August 1994 and promoted by Housing Development Finance
Corporation Limited (HDFC),
HDFC Bank was the first Bank to launch an International Debit Card in
association with VISA (Visa Electron). The Bank launched its Credit Card
business in late 2001.
HDFC Bank is providing service in 228 cities with a branch network of 535 at
the end of financial year 2005-06 . Its ATM network has risen to 1323 at the
end of FY 2005-06 as against 1147 in the previous year and it has over 46000
Point of Sale (POS) Terminals at various merchant outlets. Over 100 cities are
covered under Phone Banking.
HDFC Bank concentrates on three key business segments - Wholesale Banking
Services, Retail Banking Services, Treasury. It has entered the banking
consortia of over 50 corporates for providing working capital finance, trade
services, corporate finance and merchant banking. It is also providing
sophisticated product structures, sound advice and fine pricing mainly in areas
of foreign exchange and derivatives, money markets and debt trading and equity
research through its state-of-the-art dealing room. With its sophisticated and
customer friendly facilities & services including multi-branch access,
ATMs, net banking & cluster deposits and is well positioned to establish a
significant niche for itself in retail banking.
In Feb. 2000, Times Bank was amalgamated with HDFC bank. This was an
important milestone in the history of bank as well as indian banking sector,
being the first merger of two private sector banks. This adds significant value
to bank in terms of increased branch network, expanded geographic reach,
enhanced customer base, skilled manpower, etc.
Recently HDFC Bank & Life Insurance Corporation (LIC) form alliance for
online facility for payment of insurance premium. With this facility, LIC
policy holders can now pay their insurance premiums through HDFC Bank's on-line
payment facility. HDFCBK has become the first private sector bank to be
authorised by the Central Board of Direct Taxes (CBDT) as well as the RBI to
accept direct taxes, commencing
In 2001-02 the bank was listed on the New York Stock Exchange in the form of
ADS. Each ADS represents 3 equity shares. Consequent to the issue, the paid up
capital of the Bank has increased by Rs.374.200 millions.
The bank has received many awards to its credit, 'Best Local Bank in
The bank has also been poured by several awards during the FY 2005-06 which
includes one received from 'Business Today' which rated the bank as Best Bank
in India. Asiamoney awards selected the Bank as 'Best Domestic Commercial
Bank', 'Best Domestic Provider for Local Currency Products' and 'Best Cash
Management Bank-India'. Hongkong-based Finance Asia Magazine selected the Bank
as 'Best Bank in
Recently
HDFC Bank Ltd has also launched Idea Credit Card.
DIVIDEND:
The Bank's dividend policy is based on the need to balance the twin objectives of
appropriately rewarding shareholders with cash dividends and of retaining
capital to maintain a healthy capital adequacy ratio to support future growth.
In line with this policy and in recognition of the healthy performance during
2005-06, the directors are pleased to recommend a dividend of 55% for the year
ended
AWARDS:
The Bank continued to receive awards and gain recognition from various leading
domestic and international publications during 2005-06. The Bank was selected
as the 'Best Bank in
ADDITIONAL CAPITAL:
During the year under report, 3.27 millions shares were allotted to the
employees of the Bank pursuant to the exercise of options under the Employee
Stock Option Scheme of the Bank.
During the year, the Bank raised Rs.1,202.000 millions subordinated debt at an
annualised coupon ranging between 7.5% to 8.6% and having a maturity ranging
from
Financial Performance:
The overall performance during the financial year 2005-06 remained healthy with
total net revenues (net interest income plus other income) increasing by 51.1%
to Rs.36698.000 millions from Rs.24293.000 million in 2004-05. The revenue
growth was driven principally by an increase in net interest income and
commission income. Net interest income grew by 43.2% primarily due to increase
in the average balance sheet size by 39.4%. Net interest margin increased from
3.9% to 4.0%. Average cost of deposits increased by around 10 basis points
given the rise in the time deposit interest rates due to tight liquidity
conditions in the banking system. This was more than offset by increase in
average yield on assets due to a higher proportion of retail loans and a change
in product mix towards higher yielding loan products.
The other income (non-interest revenue) increased by 72.6% to Rs.11240.000
millions primarily due to commission income. In 2005-06, commission income
increased by 72.7% to Rs.10450.000 millions with the main drivers being
commission from distribution of third party mutual funds and insurance, fees on
debit/credit cards and point-of-sale (POS) terminals and transactional
charges/fees on deposit and depository (custody) accounts. Due to sharp
increase in short term yields in the debt market in March 2006, the Bank
incurred net losses on sale/revaluation of investments of Rs. 521.000 millions
primarily on account of marked-to-market losses on non-SLR investments. Foreign
exchange and derivatives revenues were Rs. 1186.000 millions which largely
related to customer transactions.
Operating (non-interest) expenses increased from Rs. 10854.000 millions in
2004-05 to Rs.16911.000 millions in 2005-06, due to significant expansion of
retail loan products and the credit card business. Staff expenses accounted for
28.8% of non-interest expenses in 2005-06 as against 25.5% in 2004-05, due to
an increase in average staff strength from 7479 to 11791 and also due to
increase in average salary levels. Loan loss provisions increased from
Rs.1762.000 millions to Rs.4798.000 millions in 2005-06, primarily driven by an
increase in loan loss provisions for retail loan product programs reflecting a
balance of risk and returns due to a change in product mix. Provision for amortisation
of investments was Rs. 2452.000 millions, principally due to the amortisation
of the premium for the SLR investments in the 'Held to Maturity'
category.
Net profit increased by 30.8% from Rs.6656.000 millions in 2004-05 to
Rs.8708.000 millions in 2005-06. Return on average net worth was lower at 17.5%
from the previous year figure of 20.4% primarily due to the full year impact of
expanded capital. The bank's basic earning per share increased from Rs.22.92 to
Rs.27.92 per equity share. The diluted earnings was Rs.26.33 per equity share
in 2005-06.
During 2005-06, the Bank's total balance sheet size increased by 42.9% to
Rs.735060.000 millions. Total Deposits increased by 53.5% from Rs.363540.000
millions (as of March 31, 2005) to Rs.557970.000 millions (as of
WEBSITE DETAILS :
Profile :
The Housing Development
Finance Corporation Limited (HDFC) was amongst the first to receive an 'in
principle' approval from the Reserve Bank of India (RBI) to set up a bank in
the private sector, as part of the RBI's liberalisation of the Indian Banking
Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC
Bank Limited', with its registered office in
Awards
and Achievements - Banking Services
HDFC Bank began operations in 1995 with a simple mission: to
be a "World-class Indian Bank". They realised that only a
single-minded focus on product quality and service excellence would help them
get there.
It is extremely gratifying that their efforts towards
providing customer convenience have been appreciated both nationally and
internationally.
2007
The Asian Banker Achievement Awards
The Asian Banker Leadership Achievement Award
2006
Business Today Best
Bank in
Forbes Magazine One
of Asia Pacific's Best 50 companies.
Businessworld Best
listed Bank of India.
The Asset Magazine's Triple A Country Awards Best Domestic Bank.
Asiamoney
Awards Best
Local Cash Management Bank in Large and Medium segments.
Euromoney Awards "Best
Bank" in
2005
Asiamoney Awards Best
Domestic Commercial Bank
Asiamoney Awards Best
Cash Management Bank -
The Asian Banker Excellence Retail
Banking Risk Management Award in
Hong Kong-based Finance Asia magazine Best Bank
Economic Times Awards "Company
of the Year" Award for Corporate Excellence.
Asiamoney
also named the bank:
Ø
Best Local Cash Management Bank in
India 2004 - US$11-100m
Ø
Best Local Cash Management Bank in
India 2004 - >US$501m
Ø
Best Local Cash Management Bank in
Ø
Best Overall Domestic Trade Finance
Services in India 2004
Ø
Most Improved company for Best
Management Practices in India 2004
The Business Today-KPMG Survey published in the leading Indian
business magazine Business Today has named HDFC Bank "Best Bank in
The Asset magazine named HDFC Bank "Best Cash
Management Bank" and "Best Trade Finance Bank" in
HDFC Bank named the "Most Customer Responsive Company -
Banking and Financial Services in The Economic Times - Avaya Global Connect
Customer Responsiveness Awards 2005"
HDFC Bank has been named Best Domestic Bank in
HDFC Bank has been named Best Domestic Bank in India Region
in The Asset Triple A Country Awards 2004 and 2003.
In 2004, HDFC Bank was selected by BusinessWorld as
"One of India's Most Respected Companies" as part of The Business
World Most Respected Company Awards 2004.
In 2004, Forbes Global again named them in its listing of
Best Under a Billion, 100 Best Smaller Size Enterprises in Asia/Pacific and
In 2004, HDFC Bank won the award for "Operational
Excellence in Retail Financial Services" -
In 2003, Forbes Global named them in its ranking of
"Best Under a Billion, 200 Best Small Companies for 2003".
Leading business newspaper The Financial Express named HDFC
Bank the "Best New Private Sector Bank 2003" in the FE-Ernst &
Young Best Banks Survey 2003.
Leading Personal Finance Magazine in India Outlook Money
named HDFC Bank the "Best Bank in the Private Sector" for the year
2003.
Leading Indian business magazine Business Today in a survey
rated them "Best Bank in
NASSCOM and economictimes.com have named them the 'Best IT
User in Banking' at the IT Users Awards 2003.
There
have been some other proud moments as well:
Ø
London-based Euromoney magazine gave
them the award for "Best Bank -
Ø
Asiamoney magazine has named them
"Best Commercial Bank in India 2002".
Ø
For their use of information technology
they have been recognized as a "Computerworld Honors Laureate" and
awarded the 21st Century Achievement Award in 2002 for Finance, Insurance &
Real Estate category by Computerworld, Inc.,
Ø
Their technology initiative has been
included as a case study in their online global archives.The Economic Times has
conferred on them The Economic Times Awards for Corporate Excellence as the
Emerging Company of the Year 2000-01.
Ø
Leading Indian business magazine
Business India named them "
Ø
In the year 2000, leading financial
magazine Forbes Global named them in its list of "The 300 Best Small
Companies" in the world and as one of the "20 for 2001" best
small companies in the world.
They are aware that all these awards are mere milestones in the continuing,
never-ending journey of providing excellent service to their customers. They
are confident, however, that with the feedback and support, they will be able
to maintain and improve their services.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.41.18 |
|
|
1 |
Rs.82.02 |
|
Euro |
1 |
Rs.56.07 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|