According to Zacks, “HDFC BANK’s mission is to be a World Class Indian Bank. The Bank’s aim is to build a sound customer franchise across distinct businesses so as to be the preferred provider of banking services in the niche segments that the bank operates in and to achieve healthy growth in profitability, consistent with the bank’s risk appetite. The bank aims to ensure the highest level of ethical standards, professional integrity and regulatory compliance. HDFC Bank’s business philosophy is based on four core values: Operational Excellence, Customer Focus, Product Leadership and People. “
Separately, TheStreet upgraded HDFC Bank from a “c+” rating to a “b-” rating in a research report on Monday, December 31st.
A number of institutional investors have recently modified their holdings of HDB. Bank of New York Mellon Corp grew its position in HDFC Bank by 87.7% in the third quarter. Bank of New York Mellon Corp now owns 92,990 shares of the bank’s stock worth $8,750,000 after acquiring an additional 43,439 shares during the period. Advisors Asset Management Inc. grew its position in HDFC Bank by 36.2% in the third quarter. Advisors Asset Management Inc. now owns 15,223 shares of the bank’s stock worth $1,432,000 after acquiring an additional 4,047 shares during the period. Mackenzie Financial Corp grew its position in HDFC Bank by 737.5% in the third quarter. Mackenzie Financial Corp now owns 20,100 shares of the bank’s stock worth $1,891,000 after acquiring an additional 17,700 shares during the period. Nordea Investment Management AB purchased a new position in HDFC Bank in the third quarter worth approximately $3,928,000. Finally, Standard Life Aberdeen plc grew its position in HDFC Bank by 1.1% in the third quarter. Standard Life Aberdeen plc now owns 1,259,977 shares of the bank’s stock worth $118,569,000 after acquiring an additional 13,500 shares during the period. Institutional investors own 19.12% of the company’s stock.
HDFC Bank Company Profile
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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