HDFC Bank today launched SM@Bank, touted as India's full fledged banking service for small and medium enterprises (SME). The new entity would allow clients access full bouquet of services instantly on 24x7 basis over personal computers or mobile phones.

The existing brick-and-mortar service format for the SMEs would coexist with SM@Bank and it would be the sole discretion of customers to choose between the two formats, HDFC Bank Group Head (Business Banking) Aseem Dhru told Business Standard over a video-conference call.

HDFC Realty, the real estate advisory arm of HDFC, is working on aggregating the services of local property brokers to boost its business.

The company's new strategy comes in the backdrop of the prolonged slowdown in the real estate markets in the country.

Mortgage lender HDFC Ltd has been ranked among the world’s ten biggest and most powerful companies in the consumer financial services sector on a Forbes list topped by global major American Express.

Ranked 7th, HDFC is the only Indian company in top-ten in this category, where others include Capital One, Visa and MasterCard.

KOLKATA: Even as the emphasis is shifting towards digital banking channels, high street Indian private sector lenders such as HDFC Bank and Yes Bank, among others are accelerating their branch expansion plans to consolidate their presence at the grassroots before small finance banks dot the local banking landscape and new entities plan their universal banking foray.

HDFC Bank wants to accelerate its growth in the credit card segment and capture further market share by aiming to offer 0.4 million credit cards every month, almost double of the number they issue currently.

The lender is the largest issuer of credit card in the country. “About a little more than a year back, we were issuing about 75,000-80,000 credit cards,” said Parag Rao, head (cards, merchant acquiring business & marketing), HDFC Bank. “Right now we are offering around two lakh (0.2 million) cards a month. And we plan to double it to about 4 lakh (0.4 mn) cards in the next 12-15 months.”

NEW DELHI: Private sector lender HDFC Bank on Friday said it plans to raise Rs 50,000 crore through bonds over one year to fund business growth.

The board has accorded approval for seeking shareholders nod at the annual general meeting (AGM) for issue of perpetual debt instruments, Tier II bonds, senior long-term infra bonds up to a total amount of Rs 50,000 crore in the period of next 12 months through private placement, HDFC Bank said in a regulatory filing.

Shares of three private sector banks – HDFC Bank, Yes Bank and IndusInd Bank – touched their lifetime highs on the National Stock Exchange (NSE) in an otherwise rangebound market.

Post robust January-March (Q4FY16) quarter earnings, all these three banks have been outperforming the market by gaining between 4% and 7% as compared to less than 1% rise in the Nifty.

HDFC Bank Ltd, India’s most valuable lender, on Friday reported a 20% rise in fourth quarter net profit, in line with analysts’ estimates, as it benefited from loan demand from individuals and mid-sized companies.

Net profit rose to Rs.3,374.2 crore in the three months ended 31 March from Rs.2,806.9 crore in the year-earlier period. A Bloomberg poll of 26 analysts estimated the bank to post a net profit of Rs.3,389 crore for the three months ended 31 March.

HDFC Bank, country's second largest private sector lender, has reported a 20% growth in net profit in the January-March quarter to Rs 3,374.2 crore. For the full financial year as well, net profit inched up by 20% to Rs 12,296.2 crore.

Net interest income, the difference between interest income and interest expenditure, grew by 24% to Rs 7,453.3 crore, compared with Rs 6,013.2 crore in the fourth quarter of the past financial year.

HDFC Bank is set to raise up to Rs 5,000 crore by way of infrastructure bonds. Rating agency CRISIL has assigned AAA/Stable rating to the bond issuance.

“The ratings on HDFC Bank’s debt instruments continue to reflect the bank’s established market position, healthy capitalisation supported by strong asset quality, comfortable resource profile, and robust earnings performance,” said a note from CRISIL.

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