Shares of Housing Development Finance Corporation (HDFC) and HDFC Bank gained up to 3 per cent on the BSE in Monday’s intra-day trade, extending their past three days' upward movement, after their respective Boards fixed July 13 as the record date for determining the shareholders of the Corporation who shall be issued and allotted the shares of HDFC Bank.

With the deal getting effective, HDFC Bank will be 100 per cent owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank. Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares they hold. Besides, July 13 has been fixed for the continuation of warrants of HDFC Limited in the name of HDFC Bank.

Five of the top 10 most valued firms together lost Rs 86,447.12 crore in market valuation last week, with Infosys, Tata Consultancy Services and State Bank of India taking the biggest hit.

Last week, the BSE benchmark fell 462.8 points or 0.79 per cent.

While Reliance Industries Limited, Tata Consultancy Services (TCS), HDFC Bank, Infosys and State Bank of India suffered erosion from their valuation, ICICI Bank, Hindustan Unilever Limited, ITC, HDFC and Bharti Airtel posted gains.

India’s largest private bank HDFC Bank Ltd. is seeking to issue a million credit cards a month, a remarkable bounce-back for the lender after the country’s regulator banned it from taking on new card clients two years ago.

The bank wants to double the current pace of half a million new credit card issuances every month, according to Parag Rao, country head for payments business, consumer finance, digital banking and marketing.

Housing Development Corporation Limited (HDFC) and HDFC Bank rallied up to 10 per cent on the BSE in Monday’s intra-day trade after their respective boards approved the merger of HDFC into HDFC Bank.

As part of the deal, shareholders of HDFC Ltd will receive 42 shares of the bank for 25 shares held. Existing shareholders of HDFC Ltd will own 41 per cent of HDFC Bank. Shares held by the housing finance company in the lender will be extinguished, making HDFC Bank a full-fledged public company, reports suggest.

HDFC Bank announced on Tuesday that its total business in Karnataka has crossed Rs two trillion, making it the largest private sector bank in the state in terms of overall business volume.

The bank's total advances in the state stood at Rs 73,655.39 crore on September 30, 2021, which included loans to retail, corporate, MSME and Microfinance customers, the bank said in a press release. The lender enjoys a market share of nine per cent in total advances in the state.

HDFC Bank has tied up with India Post Payments Bank (IPPB) to offer its banking services to the unbanked and underserved segments in semi-urban and rural areas.

A memorandum of understanding was signed between HDFC Bank and IPPB to cater to the majority of over 4.7 crore customer base of IPPB.

About 90 per cent of IPPB customers reside in rural areas, which may benefit from this tie-up.

Shares of HDFC Bank declined 3 per cent to Rs 1,475 on the BSE in intra-day trade on Monday after the lender reported lower than expected performance for the quarter ended June (Q1FY22). The bank posted a 16.1 per cent jump in Q1 net profit to Rs 7,729.6 crore as the bank’s asset quality deteriorated and provisions increased. The country’s largest private-sector lender's profit stood at Rs 6,659 crore in the same period last year (Q1FY21).

The net interest income (NII) of the lender rose 8.57 per cent year-on-year (YoY) in Q1FY21 to Rs 17,009 crore, driven by growth in advances at 14.4 per cent and a net interest margin of 4.1 per cent.

HDFC Bank Ltd., India’s biggest lender by market capitalization, is considering to sell its first-ever offshore bonds that qualify as capital as it boosts buffers.

The Mumbai-based lender’s board on Saturday will mull a plan to issue perpetual Additional Tier 1 notes that comply with Basel III capital norms, according to a filing late Tuesday. It would be only the second such offshore offering from an Indian bank after the nation’s largest lender State Bank of India sold such securities in 2016.

State Bank of India (SBI) and HDFC Bank have moved the Supreme Court and sought a stay on the Reserve Bank of India's directive to banks to provide financially sensitive data under the RTI act, The Times of India reported on Friday.

According to the report, the two largest banks of India feared that such directive could be detrimental to their business operations and compromise the confidentiality of customer information.

India's largest private lender HDFC Bank on Saturday reported a 18 per cent year-on-year growth in standalone net profit for the quarter ended March 2021 (Q4FY21) at Rs 8,186 crore. It was Rs 6,927.6 crore in the year-ago period (Q4FY20).

However, sequentially, the standalone net profit declined 6.5 per cent compared with Rs 8,758 crore in the December quarter (Q3FY21).

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