Creating Value

With a customer base of more than 7.1 crore and a branch network of over 6,342, HDFC Bank is among the largest private sector banks of India employing over 1,41,580 people. For FY22, it reported a total of 18,130 ATMs and cash deposit and withdrawal machines. 

It clocked a net profit of Rs 36,961 crore thereby registering a growth of nearly 19 per cent in FY22. "Our balance sheet has been resilient during the pandemic and has grown further. Our asset quality continues to remain healthy and amongst the best in the industry. Our balance sheet increased 18.4 per cent to Rs 20,68,535 crore and net profit increased 18.8 per cent to Rs 36,961.3 crore," said S. Jagdishan, MD and CEO of HDFC Bank. 

In his address to the shareholders, Jagdishan explained the rationale behind the merger of HDFC Bank with HDFC. "Quite simply, this is an opportunity we cannot afford to miss. Home loans are an emotional product and bring with them a host of accelerated benefits for the Bank," he said. Many more reasons were cited including the fact only 2 per cent of the bank’s customers sourced their home loans through HDFC Bank; 5 per cent did it from other institutions. "The long tenure nature of home loans provides resiliency to the balance sheet. We are one of the largest consumer durable financiers...we can easily bundle this with a home loan, as with every home loan, there is a propensity of a customer to take new consumer durables," said Jagdishan.

Modernising the Core

In order to revamp its core banking and mobile channel experiences, the bank created its ‘Enterprise Factory’ wherein the tech and digital teams are working in a new-age startup-like environment and co-create deep tech IP capabilities.

Sashidhar Jagdishan, MD & CEO, HDFC 

Total Assets: Rs 21,22,934 crore

Total Income: Rs 1,67,695 crore

Operating Profit: Rs 50,873 crore

Net Profit: Rs 38,151 crore