What the Company Does

The Indian bank HDFC began life in 1977 as a private company called The Housing Development Finance Corporation Limited and in 1994 it became one of the first companies to gain approval from the Reserve Bank of India to establish a bank in the private sector.

Its shares began trading on the Mumbai Stock Exchange in August 1995. Since then, it has grown organically and through a small number of sensible acquisitions, retaining an emphasis on retail banking. In April 2022 it completed a merger with India's largest home loan provider HDFC Ltd. 

The bank is overwhelmingly focused on the Indian domestic market but generates some revenue from affiliated regions, including Singapore and the Middle East, although it mostly serves Indian ex-pats customers in those markets. The bank operates more than 8,000 branches across India and employs over 160,000 staff.

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Information is accurate as at 01.09.2025. Opinions constitute the fund manager’s judgement as of this date and are subject to change without warning. The officers, employees and agents of CIP may have positions in any securities mentioned herein. This material may not be distributed, published or reproduced in whole or in part. With investment, capital is at risk.