Best Retail Bank Which Holds A Strong Market Reputation

Best Retail Bank Which Holds A Strong Market Reputation

HDFC has evolved as the biggest residential mortgage finance institution in the country after its establishment in 1977. Headquartered in Mumbai, it is spread throughout the country and has 1725 branches. It also has an International Office in Dubai, UAE with service associates in Kuwait, Oman and Qatar. For the past 27 years, it has been recognized as the largest housing company in India. Moreover, it 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 from Housing Development Finance Corporation Limited (HDFC), in 1994 during the period of liberalization of the banking sector. The Asset magazine named HDFC Bank as "Best Cash Management Bank" and "Best Trade Finance Bank" in India, in 2006. Times Bank Limited was merged with HDFC Bank Ltd. in 2000. In 2008 HDFC Bank acquired Centurion bank of Punjab taking its total branches to more than 1,000. Also it was chosen as one of Asia Pacifics best 50 companies by Forbes magazine.

The bank's branches are connected through an online real-time basis. Customers in over 500 locations are using the Telephone Banking services of the bank. The Bank also has a network of about over 4724 networked ATMs across these cities. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.

HDFC has acheived recognition in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. Recently Mega Loan Mahotsavain was held in many parts of India where Kisan Gold Cards were given to rural customers.The Bank is holding a total of 150 Gramin Loan Mahotsavas, small and big, across the country. The states include Gujarat, Maharashtra, Rajasthan, Andhra Pradesh, Karnataka, Tamil Nadu, and various other states.

The bank branches are connected online, which eases the tranfer of funds and transactions for its customers. Multi-branch access is also provided to retail customers through the branch network and Automated Teller Machines (ATMs). In terms of software, the Corporate Banking business is supported by Flexcube, while the Retail Banking business by Finware, both from i-flex Solutions Ltd. The systems are open, scaleable and web-enabled. It is No.1 among all private Sector banks In India but getting a tough competition from other leading banks.

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