Tag: HDFC Bank

Business World

Top Banker Joins Carlyle as Senior Advisor

Nov 2, 2020 by Gouri Achary 0 Comments #Aditya Puri, #Financial Services, #HDFC Bank, #investing, #The Carlyle Group, #X.D. Yang

Global investment firm The Carlyle Group (NASDAQ: CG) today announced that Aditya Puri, former Chief Executive Officer of India’s largest private sector bank, HDFC Bank, has been appointed as a Senior Advisor to Carlyle in Asia.

Mr. Puri will advise the Carlyle team on investment opportunities across Asia. Mr. Puri will provide guidance on the evolving market landscape and new investment opportunities, while also advising Carlyle’s investment professionals and portfolio management teams on building differentiated high-quality businesses.

Mr. Puri was appointed as the first CEO of HDFC Bank when it was established in 1994. Over his 26 year tenure leading the business, Mr. Puri grew HDFC Bank into the largest private sector bank in India with over $210 billion of assets (as of September 30, 2020), and the most valuable bank in India with a market cap of over $90 billion (as of October 2020). Under Mr. Puri’s leadership, HDFC Bank became well-known for its customer-focused approach, disciplined risk management and strong consistent year-on-year growth.

Mr. Puri previously spent over 20 years at Citibank overseeing parts of the bank’s activities across India, Greece, Saudi Arabia, Hong Kong, Korea, Taiwan and mainland China, with his last role as CEO of Citibank’s operations in Malaysia from 1992-1994. He has won several awards and accolades during his tenure, including being named among Barron’s Top 30 Global CEOs in 2015 and 2018, Fortune’s Top 50 Businesspersons globally in 2016, and most recently, Euromoney’s lifetime achievement award.

Aditya puriAditya Puri, commented, “Carlyle is known for its ability to transform businesses, working closely in partnership with management teams and other key stakeholders to drive sustainable long-term growth. I am very impressed with Carlyle’s track record in a number of key industry sectors, including its leadership position in financial services, not just in India but across Asia.

Whether this is with founder-led businesses or large conglomerates, Carlyle’s focus on building better businesses is something I have a great affinity for. It will therefore be a pleasure to act as senior advisor to the Carlyle team in support of their investing activities across Asia.”

X.D. Yang, Managing Director and Chairman of Carlyle Asia commented, “Mr. Puri has been repeatedly accredited as one of the world’s leading global CEOs. We are excited to have him join Carlyle as a senior advisor in Asia, and look forward to leveraging his deep expertise and relationships to source new investment opportunities and to help our portfolio companies build better businesses.”

Sunil Kaul, Managing Director and Financial Services sector lead for the Carlyle Asia advisory team, commented, “I have had the privilege of knowing and following Mr. Puri from his Citibank years. To have someone of his stature join Carlyle as a senior advisor will add significant value to our capabilities across the region, not only in financial services but across sectors given Mr. Puri’s unparalleled experience in the business world. We’re delighted to have him join us and excited by the potential of what we can achieve by working together.”

Carlyle has a well-established history of investing in financial services, both in Asia and globally, fueled by a deep understanding of the market and an ability to create value through its operational expertise and close partnerships with management. Across Asia (ex-Japan), Carlyle has made investments of around $4.9 billion in financial services as of September 30, 2020, in companies including SBI Card, SBI Life, HDFC Limited, PNB Housing Finance, Repco Home Finance, Edelweiss, IIFL, KB Financial Group, China Pacific Insurance, Ant Group, Du Xiaoman Financial, among others.

Business World

myPrayer app launched for Shri Mata Vaishno Devi Temple powered by HDFC Bank

Oct 19, 2020 by Gouri Achary 0 Comments #HDFC Bank, #Ms. Smita Bhagat, #myPrayer app, #Sh. Manoj Sinha, #Shri Mata Vaishno Devi Temple

In a first-of-its-kind initiative, Shri Mata Vaishno Devi Shrine Board launched its own app powered by HDFC Bank. The myPrayer app, from HDFC Bank’s myApps range of services, will allow devotees to watch live Darshan and Aartis, make donations and have Prasad delivered at your doorstep from the comfort of their homes.

Known as the ‘Mata Vaishno Devi’ app, it has been launched just ahead of the festive season. This will benefit lakhs of devotees who traditionally visit the shrine but would be unable to do so this year on account of the restrictions on travel due to the Covid-19 pandemic.

The app is available for download from Google Playstore and has been completely customised for Vaishno Devi Temple. #myPrayer app is part of the Bank’s #myApps range, a suite of white-label apps that enables religious institutions, municipalities, housing societies, Smart cities, clubs and even Gymkhanas to completely digitise their ecosystem. These apps are a part of the bank’s strategy to take digitization to the next level by focusing on providing value beyond basic banking services.

The App was inaugurated digitally by Sh. Manoj Sinha, Hon’ble Lt. Governor of Jammu Kashmir, who is also the Chairman of Shri Mata Vaishno Devi Shrine Board.

The shrine dedicated to Mata Vaishno Devi is located in the folds of a three-peaked mountain named Trikoot in Jammu Kashmir. It is not directly accessible by road. Reaching the temple involves a challenging 12 km uphill trek from Katra. Given the geographical challenges and the restrictions on travel due to the pandemic, the app will benefit all worshipers of the deity across the country.

Smita HDFC Bank“We are delighted to set up the myPrayer app for Mata Vaishnao Devi temple and be of service to lakhs of people,” said Ms. Smita Bhagat, Country Head, Government and Institutional Business, E-Commerce and Start-ups, HDFC Bank speaking about the milestone. “In line with the #DigitalIndia mission, HDFC Bank’s myApps suite of products was designed to provide our institutional customers with convenience, flexibility and the extra digital edge they need to ensure they are enhancing their services. We believe this reiterates our commitment to go beyond banking to extend our services to the most remote and geographically challenging areas of the country, such as this.”

 

Business World

HDFC Bank announces results for quarter ended September 30, 2020

Oct 17, 2020 by Gouri Achary 0 Comments #2020, #HDFC Bank, #HDFC Bankresults for quarter ended September 30

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and half year ended September 30, 2020, at their meeting held in Mumbai on Saturday, October 17, 2020. The accounts have been subjected to an audit by the statutory auditors of the Bank.

STANDALONE FINANCIAL RESULTS:

 Profit & Loss Account: Quarter ended September 30, 2020

 The Bank’s net revenues (net interest income plus other income) grew to ₹ 21,868.8 crore for the quarter ended September 30, 2020 from ₹ 19,103.8 for the quarter ended September 30, 2019. Net interest income (interest earned less interest expended) for the quarter ended September 30, 2020 grew by 16.7% to ₹ 15,776.4 crore from ₹ 13,515.0 crore for the quarter ended September 30, 2019, driven by asset growth of 21.5%, and a core net interest margin for the quarter of 4.1%. The Bank’s continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 153%, well above the regulatory requirement.

Other income (non-interest revenue) at ₹ 6,092.5 crore was 27.9% of the net revenues for the quarter ended September 30, 2020 as against ₹ 5,588.7 crore in the corresponding quarter ended September 30, 2019. The four components of other income for the quarter ended September 30, 2020 were fees & commissions of ₹ 3,940.3 crore (₹ 4,054.5 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 560.4 crore (₹ 551.7 crore for the corresponding quarter of the previous year), gain on sale / revaluation of investments of ₹ 1,016.2 crore (gain of ₹ 480.7 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries, of ₹ 575.6 crore (₹ 502.0 crore for the corresponding quarter of the previous year).

While the previous quarter largely bore the brunt of the COVID-19 pandemic, some of the softness continued into the current quarter leading to lower retail loan origination, use of debit and credit cards by customers, efficiency in collection efforts and waivers of certain fees. As a result, fees/other income were lower by approximately ₹ 800 crore. However, the loan and card momentum has improved over the previous quarter, thereby reducing the gap to less than half.

Operating expenses for the quarter ended September 30, 2020 were ₹ 8,055.1 crore, an increase of 8.8% over ₹ 7,405.7 crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 36.8% as against 38.8% for the corresponding quarter ended September 30, 2019. Growth in operating expenses was relatively moderate, as a result of lower loan origination and sales volumes.

Pre-provision Operating Profit (PPOP) at ₹ 13,813.8 crore grew by 18.1% over the corresponding quarter of the previous year.

Provisions and contingencies for the quarter ended September 30, 2020 were ₹ 3,703.5 crore (consisting of specific loan loss provisions of ₹ 1,240.6 crore and general and other provisions of ₹ 2,462.9 crore) as against ₹ 2,700.7 crore (consisting of specific loan loss provisions of ₹ 2,041.3 crore and general and other provisions of ₹ 659.3 crore) for the quarter ended September 30, 2019. Total provisions for the current quarter includes contingent provisions of approximately ₹ 2,300 crore for proforma NPA as described in the asset quality section below as well as additional contingent provisions to make the balance sheet more resilient.

The reported Specific Credit Cost ratio was 0.47%. This Core Credit Cost ratio on a proforma basis (refer Asset Quality section) was 0.91%, as compared to 1.08% in the quarter ending June 30, 2020 and 0.90% in the quarter ending September 30, 2019.

Profit before tax (PBT) for the quarter ended September 30, 2020 was at ₹ 10,110.3 crore. After providing ₹ 2,597.2 crore for taxation, the Bank earned a net profit of ₹ 7,513.1 crore, an increase of 18.4% over the quarter ended September 30, 2019.

Balance Sheet: As of September 30, 2020

Total balance sheet size as of September 30, 2020 was ₹ 1,609,428 crore as against ₹1,325,072 crore as of September 30, 2019, a growth of 21.5%.

Total deposits as of September 30, 2020 were ₹ 1,229,310 crore, an increase of 20.3% over September 30, 2019. CASA deposits grew by 27.5% with savings account deposits at ₹ 348,432 crore and current account deposits at ₹ 163,019 crore. Time deposits were at ₹ 717,859 crore, an increase of 15.7% over the previous year, resulting in CASA deposits comprising 41.6% of total deposits as of September 30, 2020. As mentioned above, the Bank’s continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 153%, well above the regulatory requirement.

Total advances as of September 30, 2020 were ₹ 1,038,335 crore, an increase of 15.8% over September 30, 2019. Domestic advances grew by 15.4% over September 30, 2019. As per regulatory [Basel 2] segment classification, domestic retail loans grew by 5.3% and domestic wholesale loans grew by 26.5%. The domestic loan mix as per Basel 2 classification between retail:wholesale was 48:52. Overseas advances constituted 3% of total advances.

Half Year ended September 30, 2020

 For the half year ended September 30, 2020, the Bank earned a total income of ₹ 70,522.7 crore as against ₹ 66,116.8 crore in the corresponding period of the previous year. Net revenues (net interest income plus other income) for the half year ended September 30, 2020 were ₹ 41,609.6 crore, as against ₹ 37,368.3 crore for the half year ended September 30, 2019. Net profit for the half year ended September 30, 2020 was ₹ 14,171.7 crore, up by 19.0% over the corresponding half year ended September 30, 2019.

Capital Adequacy:

 The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 19.1% as on September 30, 2020 (17.5% as on September 30, 2019) as against a regulatory requirement of 11.075% which includes Capital Conservation Buffer of 1.875%, and an additional requirement of 0.20% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB). Tier 1 CAR was at 17.7% as of September 30, 2020 compared to 16.2% as of September 30, 2019. Common Equity Tier 1 Capital ratio was at 17.0% as of September 30, 2020. Risk- weighted Assets were at ₹ 1,037,483 crore (as against ₹ 963,321 crore as at September 30, 2019).

NETWORK

 As of September 30, 2020, the Bank’s distribution network was at 5,430 branches and 15,292 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 2,848 cities / towns as against 5,133 branches and 13,952 ATMs / CDMs across 2,768 cities / towns as of September 30, 2019. 50% of our branches are in semi-urban and rural areas. In addition, we have 12,141 business correspondents, of which 99% are manned by Common Service Centres (CSC) as against 181 business correspondents as of September 30, 2019. Number of employees were at 117,082 as of September 30, 2020

(as against 111,208 as of September 30, 2019).

ASSET QUALITY

 The Gross and Net non-performing assets were at 1.08% of gross advances and 0.17% of net advances as on September 30, 2020 respectively.

The Honourable Supreme Court of India, in a public interest litigation (Gajendra  Sharma Vs Union of India & Anr), vide an interim order dated September 03, 2020, directed that accounts which were not declared NPA till August 31, 2020 shall not be declared as such until further orders. Pursuant to the said interim order, accounts that would have otherwise been classified as NPA have not been and will not be, classified as NPA till such time that the Honourable Supreme Court rules finally on the matter.

However, if the Bank had classified borrower accounts as NPA after August 31, 2020 and also adopted an early recognition of NPA using its analytical models (proforma approach), the proforma Gross NPA ratio would have been 1.37% as on September 30, 2020, as against 1.36% as on June 30, 2020 and 1.38% as on September 30, 2019.The Bank’s proforma Net NPA ratio would have been 0.35%. Pending disposal of the case, the Bank, as a matter of prudence, has made a contingent provision in respect of these accounts.

The Bank also continues to hold provisions as on September 30, 2020 against the potential impact of COVID-19 based on the information available at this point in time and the same are in excess of the RBI prescribed norms.

The Bank held floating provisions of ₹ 1,451 crore and contingent provisions of ₹ 6,304 crore as on September 30, 2020. Total provisions (comprising specific, floating,

contingent and general provisions) were 195% of the reported Gross NPAs or 154% of proforma Gross NPAs as on September 30, 2020.

 

SUBSIDIARIES

 The Bank’s subsidiary companies prepare their financial results in accordance with the notified Indian Accounting Standards (‘Ind-AS’). The Bank for the purposes of its statutory compliance prepares and presents its financial results under Indian GAAP. Hence the Bank’s subsidiary companies, for the purposes of the consolidated financial results of the Bank, prepare ‘fit-for-consolidation information’ based on the recognition and measurement principles as per Indian GAAP. The financial numbers of the Bank’s subsidiary companies mentioned herein below are in accordance with Indian GAAP.

HDFC Securities Limited (HSL) is amongst the leading retail broking firms in India. As on September 30, 2020, the Bank held 96.5% stake in HSL.

For the quarter ended September 30, 2020, HSL’s total income was ₹ 341.4 crore as against ₹ 189.3 crore for the quarter ended September 30, 2019. Profit after tax for the quarter was ₹ 167.1 crore, as against ₹ 91.0 crore for the quarter ended September 30, 2019.

As on September 30, 2020, HSL had 235 branches across 161 cities / towns in the country.

HDB Financial Services Limited (HDBFSL) is a non-deposit taking non-banking finance company (‘NBFC’) offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on September 30, 2020, the Bank held 95.3% stake in HDBFSL.

The total loan book grew by 2.3% to ₹ 57,014 crore as on September 30, 2020 as against ₹ 55,759 crore as of September 30, 2019. During the quarter HDBFSL increased its liquidity buffers, with Liquidity Coverage Ratio now at a healthy 214%, well above the regulatory requirement.

For the quarter ended September 30, 2020, HDBFSL’s net interest income was at ₹ 924.2 crore as against ₹ 971.1 crore in the previous quarter. Profit after tax for the quarter ended September 30, 2020 was ₹ 29.9 crore compared to ₹ 213.0 crore in the previous quarter.

As on September 30, 2020, Gross and Net NPA were 4.3% of gross advances and 3.1% of net advances respectively.

Total CAR was at 19.6% with Tier-I CAR at 14.6%. As on September 30, 2020, HDBFSL had 1,342 branches across 986 cities / towns.

CONSOLIDATED FINANCIAL RESULTS

The consolidated net profit for the quarter ended September 30, 2020, was ₹ 7,703 crore, up 16.0%, over the quarter ended September 30, 2019. Consolidated advances grew by 14.9% from ₹ 947,440 crore as on September 30, 2019 to ₹ 1,088,948 crore as on September 30, 2020.

The consolidated net profit for the half-year ended September 30, 2020, was ₹ 14,630 crore, up 18.8%, over the half-year ended September 30, 2019.

Note:

₹ = Indian Rupees 1 crore = 10 million

All figures and ratios are in accordance with Indian GAAP unless otherwise specified.

 

Business World

HDFC Bank takes ‘Festive Treats 2.0’ to rural India 1.2 lakh VLEs

Oct 11, 2020 by Gouri Achary 0 Comments #Dr. Dinesh Tyagi, #Festive Treats’ 2.0, #HDFC Bank, #Ms. Smita Bhagat

HDFC Bank today took its festive offers to the most remote parts of the country. It launched the semi-urban and rural phase of ‘Festive Treats’, its annual financial services dhamaka through the Government of India’s Common Service Centres (CSC) network.

Through the network of 1.2 lakh village-level entrepreneurs (VLEs) enrolled with CSC, customers in these locations can avail of offers specifically created for them. Customers will get special deals on all banking products from loans to bank accounts. This includes home loans, 2-wheeler loans, car loans, tractor loans, gold loans or business growth loans.

The bank has also tapped over 3,000+ hyperlocal merchants and traders to offer customized deals at the regional level. Customers can avail of flat 5% to 15% off in various categories including apparel, electronics, grocery, home decor and jewellery among others. This is over and above 1,000+ national and international offers that can are also available.

Customers simply have to walk to their nearest Common Service Centre or neighbourhood VLE to avail of special festive offers available across the spectrum of financial solutions. In the current circumstances with the pandemic, all these offers are also available online.

Both retail, as well as business customers, can avail of:

  • discounts on processing fees for loans
  • reduced EMIs,
  • discounts on foreclosure charges on certain loans availed during the period

For the complete range of offers on the Festive Treat campaign, visit:

https://v1.hdfcbank.com/htdocs/common/2020/sept/festivetreat/shopping.html

This is the 2nd phase of HDFC Bank’s Festive Treats 2.0 campaign. It was launched in digitally across the country on September 30. The rural phase of the campaign was launched digitally by Ms. Smita Bhagat, Country Head, Government and Institutional Business, E-Commerce and Start-ups, HDFC Bank together with Dr. Dinesh Tyagi, CEO CSC SPV. You can watch the launch address to the VLEs here:

While there are a vast number of offers available through the Festive Treats 2.0 Campaign, here are a few illustrative benefits especially for rural India:

  • Two Wheeler Loan at Zero Processing Fee. Down payment starting at Rs 1999/- and up to 25% Lower EMI for the first 6 months.
  • 50% off on Foreclosure charges for Tractor Loans booked between 1st Oct to 15th Nov and up to 90% funding on Tractors
  • 50% waiver in Processing Fee for Kisan Gold Loan.

“We want to help people living in rural areas and extend as much benefit of HDFC Bank’s Festive Treats to them as those in urban areas. Last year we saw great response to this initiative. While this year it is an unusual circumstance with the pandemic, I believe our VLEs will be able to safely help those in their areas with all types of finance. They will also be able to celebrate this season with many local offers curated by HDFC Bank,” said Dr. Dinesh Tyagi, CEO, CSC SPV during the launch of phase 2.

Speaking to the VLEs about the launch of Festive Treats, Ms. Smita Bhagat, Country Head, Government and Institutional Business, E-Commerce and Start-ups, HDFC Bank said, “60% of India lives in semi-urban and rural areas and we have been increasingly reaching out to them through our network. Through our partnership with CSC SPV we were able to reach so many people in these markets last year and I congratulate the VLEs for the tremendous success in the previous edition of Festive Treas. With them as our partners, we have been able to go deeper into the hinterland and take banking products to rural India. We hope to continue growing together.”

In July 2018, HDFC Bank and CSC SPV signed an MoU to enable VLEs enrolled with CSCs to offer banking products and services in remote locations. The arrangement envisaged making banking services available to lakhs of people in rural India who did not have access to formal banking.

Business World

HDFC Bank: Views on Credit Policy by Mr. Abheek Barua, Chief Economist, HDFC Bank

Oct 10, 2020 by Gouri Achary 0 Comments #European Central Bank Governor, #HDFC Bank, #Mario Draghi, #Mr. Abheek Barua, #RBI

Today’s monetary policy was as aggressively accommodative as possible without cutting the policy rate. The decision to remain accommodative for an extended period and to look through “transient humps” in inflation reveals an appreciation for the basic principles of economics –that a GDP contraction of 9.5 per cent is simply not compatible with demand-side inflation pressures. If inflation has persisted over the RBI’s target limit, it has been driven by persistent supply-side problems. Persistence itself cannot transform a supply-driven problem to a demand-side concern amenable to monetary policy-driven containment. Given the stance, there is a significant probability of a rate cut in February, if not in December itself as inflation, as we expect, moderates.

The highlight of the policy was the RBI’s signal that it would “do whatever it takes” (a phrase immortalized by former European Central Bank Governor Mario Draghi) to align risk-free government bond yields with the fundamentals of the economy. This involved key changes such as an increase in the size of Open Market Operations and innovations like OMOs in State Government Bonds. Were these measures to succeed, as we expect them to, the upward pressure on yields that have built up on the back of heavily anticipated supply of central and state government bonds is likely to moderate.

Has the RBI gone overboard in its effort to support growth? We think not. These are unprecedented times and the Indian economy’s revival efforts are hobbled by the lack of adequate fiscal support. If monetary policy does have to do the heavy lifting, it cannot do it within the confines of a conventional “take-no-risks” framework. Conservatives will fret over both inflation and financial stability risks given the combination of a liquidity glut and an effective dilution of prudential norms for things like home loans. We believe it’s a risk worth taking.

Business World

HDFC Bank, Apollo Hospitals join hands for quality healthcare

Oct 7, 2020 by Gouri Achary 0 Comments #Apollo Hospitals, #Dr. Prathap C. Reddy, #HDFC Bank, #healthcare, #Mr. Aditya Puri, #Ms. Shobana Kamineni, #The HealthyLife Programme

In a first-of-its-kind initiative in the country, HDFC Bank and Apollo Hospitals have joined hands to launch  The HealthyLife Programme, a holistic healthcare solution which makes healthy living accessible and affordable on Apollo’s digital platform, Apollo 24|7. The programme is created exclusively for HDFC Bank customers who will get round the clock access to emergency Apollo Doctor at No Cost on Apollo 24|7 along with a plethora of benefits such as choice of payment options and ease of finance for treatments at all Apollo Hospitals.

The initiative was launched digitally by Mr. Aditya Puri, Managing Director, HDFC Bank and Dr. Prathap C. Reddy, Chairman, Apollo Hospitals Group in the presence of Ms. Shobana Kamineni, Executive Vice-Chairperson, Apollo Hospitals Group and Mr Sashidhar Jagdishan, the MD Designate of HDFC Bank.

The two biggest challenges in a medical emergency or keeping healthy are access to trusted, quality healthcare and easy finance at scale. The coming together of these two leading players aims to address precisely this through the combined reach of the two organizations. About 40 per cent of India is only about 30 minutes away from an Apollo pharmacy while over 85 per cent of the districts in the country are served by an HDFC Bank branch. The two organizations have the potential to initially serve 65 million existing HDFC Bank customer along with the new ones who will be onboarded along the journey of this partnership.

“There is nothing more precious than life and health.  A healthy India is the first step towards a really wealthy India. To me it is like a mini health mission that will revolutionize access to quality healthcare for millions of our countrymen. They can get medical services at a place and time of their choice. We are inspired by the prime minister’s clarion call on Independence Day to provide healthcare services for all through the National Digital Health Mission. I am extremely happy and proud to launch this,” said Mr. Aditya Puri, Managing Director, HDFC Bank.

Dr. Prathap C. Reddy, Chairman, Apollo Hospitals Group said, “I am excited to be a part of this launch as the objective is to make lives healthy while making the process convenient and easy for the customers. We are glad to partner with HDFC Bank and provide real-time access to world-class Apollo expertise on Apollo 24|7. I am sure that this association will usher in positive changes in both healthcare and financial sector of our country and propel the PMs vision of a Healthy India.”

Ms. Shobana Kamineni, Executive Vice-Chairperson, Apollo Hospitals Group said, “I think it is about time that we prioritise health over everything else. With this partnership, we want to make it easier for all Indians across the country, to opt for a healthy life by making quality healthcare affordable and accessible 24|7, using a digital-first approach. Through this association, we take lead in the country’s ongoing healthcare metamorphosis by providing a unique Omni-channel solution, which is what the people need today. It aligns with our objective of offering a Continuum of Care for all those who believe in Apollo”

Key features that customers can avail:

HealthyLife Programme Finance
Anytime Apollo Doctor on Call Service at No Cost Pre-approved personal loan of upto Rs 40 lakh
Complementary One Apollo membership for the 1st year. 10 second personal loan disbursal
Chronic care programmes on Apollo 24|7 No Cost EMI on Credit or Debit Cards
Home delivery of medicines with membership discounts on Apollo 24|7 Lifecare Finance with Easy EMI covering eye care, dental care, maternity, IVF
WhatsApp based concierge services

 

 Credit card facility with EMI on card, instant discounts, Spend-based waivers, Concierge facilities.
Comprehensive health check up  

In addition, HDFC Bank will also offer all Apollo employees/customers a host of banking products including loans for medical equipment.

For complete information on #HealthyLife visit: https://bit.ly/3jElvEb

 

Business World

HDFC Bank’s Ravi Santhanam in Forbes list of World’s Most Influential CMOs

Oct 5, 2020 by Gouri Achary 0 Comments ##HDFCBankSafetyGrid campaign, ##HumHaarNahiMaanenge, #Forbes list, #HDFC Bank, #Ravi Santhanam

Mumbai, October 2020: Ravi Santhanam, Chief Marketing Officer (CMO), HDFC Bank has been recognised in the Forbes list of ‘The World’s Most Influential CMOs’. Ranked at Number 39, he is the only CMO of an Indian company to be featured in the illustrious list which includes marketing heads of Apple, BMW, Lego, Adobe, Microsoft, P&G among others.

This is the 8th edition of this annual list released by Forbes with research partners Sprinklr and LinkedIn. This year, 427 global CMOs were eligible for consideration. It is generated using data from news reports, websites and social networks to measure influence.

In its editorial, Forbes writes, “Santhanam is a marketing leader who prioritizes personalized and relevant customer experience and believes that machine learning and data science are critical tools for marketers; he expressed so in a recent blog. And he led the Indian bank’s response to the coronavirus outbreak, launching the #HDFCBankSafetyGrid campaign to help people keep a safe distance in public. He also led the creation of the inspirational “Hum Haar Nahi Maanenge” music video about overcoming adversity, featuring Indian musical talent.”

“I am humbled to be a part of Forbes’ list of influential CMOs. This recognition is a reflection of how the bank came together during an unprecedented situation to launch several unique initiatives. When the lockdown was declared we were determined to play our part, as a socially responsible corporate citizen, in ensuring the health and safety of our fellow citizens. We launched #HDFCBankSafetyGrid campaign when social distancing was the need of the hour to fight Covid-19.” said Mr. Santhanam.

“Similarly, #HumHaarNahiMaanenge was a clarion call to spread hope, positivity and motivation. None of this would have been possible without the unstinted support from every part of the bank and I’m honoured to accept this recognition on their behalf,” he added.

HDFC Bank has been adjudged India’s Most Valuable Brand for 7 consecutive years by WPP group company Millward Brown. HDFC Bank’s marketing campaigns, which have stood out for their social messaging, have also received accolades in the recent past. To drive awareness on the need for blood donation, the bank launched the campaign #StopMithani as part of its Annual Blood Donation Drive. This unique campaign was recognised globally at Cannes Lions 2019. It was also awarded at the Spikes 2019 Awards and the APAC Effies 2019 as well as the Indian Effies 2019.

Business World

HDFC Bank launches ‘Festive Treats’ 2.0 with 1000+ offers

Oct 1, 2020 by Gouri Achary 0 Comments #Festive Treats’ 2.0, #HDFC Bank, #Mr. Aditya Puri, #Mr. Parag Rao

Mumbai, September 30, 2020: After the resounding success of the 1st edition, HDFC Bank today launched ‘Festive Treats’ its annual financial services dhamaka. Customers can avail of special deals on all banking products from loans to bank accounts, with over 1000+ offers from leading players and over 2,000 hyper-local offers through tie-ups with local merchants across semi-urban and rural locations.

In light of the unprecedented situation due to Covid19, all deals and offers this year can also be availed of digitally from the safety customers’ homes, in addition to over the counter at branches, partner stores and dealerships.

On the heels of its Summer Treats festival, the bank expects mobiles, consumer durable, and electronics categories to do well in addition to apparels, jewellery and dining-in due to the festive season.

Offers will be available across the entire range of financial solutions for retail as well as business customers with discounts on processing fee on loans, reduced EMIs, cashback, gift vouchers and more benefits.

HDFC Bank has also tied up with retail brands to offer discounts, cashback and extra reward points on both in-store and online purchases. Online majors such as Amazon, TataCliq, Myntra, Pepperfry, Swiggy and Grofers will offer special deals during this time. Leading retail and consumer brands like Lifestyle, Bata, Monte Carlo. Vijay Sales, Kohinoor, GRT, ORRA are a few big names that will offer up to between 5% to 15% cashback on various products and services.

With 53 per cent of branches in semi-urban and rural areas, the bank plans to take this offering to the most remote corners of the country. It has tied up with hyperlocal stores and kiranas to line up over 2000+ offers at the regional level The national campaign was launched digitally by Mr. Parag Rao, Country Head – Payment Business, Merchant Acquiring Services and Marketing, HDFC Bank. Mr. Aditya Puri, Managing Director, HDFC Bank graced the occasion.

While there are a vast number of offers available through the Festive Treats Campaign, here are a few illustrative benefits:

• On all Apple products including the newest launches, HDFC Bank Customers can avail cashback of up to Rs 7000.
• A shopper can avail of cashback of up to 22.5% and convert their purchases into a no extra cost EMI on leading brands such as Samsung, LG, Sony, Godrej and Panasonic.
• The Bank is offering 50% off on the processing fees on auto loans, personal loans and business growth loans and zero processing fee on two-wheeler loans.

“Consumers have held back on purchases during the lockdown and there is a lot of pent up demand that has built up in the system,” said Mr. Parag Rao, Country Head – Payment Business, Merchant Acquiring Services and Marketing, HDFC Bank. “In the past 2-3 months, we have seen renewed customer interest and buying patterns. We see this continuing through the festive season as well. It’s our endeavour that no matter what the dream, with HDFC Bank money should not be a constraint for our customers. We’re therefore bringing together a never before seen range of 1000+ offers across brands and across all our banking products in one place. We are confident that we’ll fulfil every dream of our customers through Festive Treats.”

Speaking at the launch of Festive Treats, Mr. Aditya Puri, MD, HDFC Bank said, “These are unprecedented times. What we have witnessed is that even during this period the people of our country have shown courage and resilience. The launch of #FestiveTreats is our effort to celebrate this spirit of India. Post lockdown we are seeing green shoots. We want to create positivity and boost consumption. We want to be there for our customers and ensure that they have everything they need to meet their demands this year. #HumHaarNahiMaanenge”

Business World

HDFC Bank ranked India’s No. 1 brand for 7th consecutive year

Sep 21, 2020 by Gouri Achary 0 Comments #2020 BrandZ™ Top 75 Most Valuable Indian Brands, #HDFC Bank, #India’s Most Valuable Brand, #Mr. David Roth

Mumbai, September 20, 2020: HDFC Bank has been ranked India’s Most Valuable Brand for the 7th consecutive year. Known as the ‘2020 BrandZ™ Top 75 Most Valuable Indian Brands,’ the survey values the HDFC Bank brand at $20.3 billion.

HDFC Bank’s brand value over the past 7 years, has grown from $9.4 billion in 2014 to $20.3 billion in 2020. This year, the study covered 1,140 Indian brands across 89 categories with insights from 3.8 million consumers.

“HDFC Bank has been consistent in its financial performance and customer experience, the bank was also ranked no. 59 in the 2020 BrandZTM Top 100 Most Valuable Global Brands report,” wrote BrandZ in its report on HDFC Bank.

This ranking is the result of a survey conducted by Kantar Millward Brown, a group company of global communication services behemoth, WPP.

“Brands globally are being tested by the pandemic, especially in countries such as India where the economy was slowing down prior to COVID-19,” said Mr. David Roth, CEO of The Store WPP, EMEA and Asia and Chairman of BrandZ. “Many Indian brands have risen to the challenge and demonstrated their ability to innovate and adapt in ways that are world-class. Our analysis proves that convulsively once again that companies who invest in the brand building are better placed to survive such challenges and come out stronger.”

HDFC Bank has also featured for six consecutive times in the Top 100 Global Brands list. In the prestigious global rankings topped by Amazon, HDFC Bank climbed a notch to 59th rank from 60th rank last year. Other brands in the top 10 are Apple, Microsoft, Google, Visa, Alibaba, Tencent, Facebook, McDonald’s, MasterCard in that order.

Business World

HDFC Bank launches Video KYC facility

Sep 17, 2020 by Gouri Achary 0 Comments #HDFC Bank, #Mr Arvind Vohra, #The Video KYC

Mumbai, September 17, 2020: HDFC Bank today announced the launch of Video KYC (Know Your Customer) facility. After successful completion of the pilot project, HDFC Bank has deployed consent-based Video KYC facility as an alternate method of establishing the prospective customer’s identity, during the account opening process in a safe and secure environment.

The video KYC facility is a result of an Agile Pods comprising teams from Branch Banking, Digital Banking and Retail assets working together. At HDFC Bank, there are various Agile Pods working on new products and services for customers. This is in line with the One Bank vision of harnessing the competencies and capabilities of various teams for strategic projects in the Bank.

The Video KYC facility has been deployed for Savings and Corporate Salary accounts and Personal Loans so far and will be rolled out for other products in a phased manner. As per the RBI directions, successful completion of Video KYC is equivalent to full KYC and the customers is eligible for all financial / banking products. It is available on working days from 10 am to 6 pm.

Click here to watch a video on this offering.

Prospective customers can now sit in the comfort of their home or office and open a full KYC – all benefits account in HDFC Bank in a few minutes and avail the bank’s world-class products and services. The Video KYC process is online, secure, and quick. It is a paperless, contactless, and recorded interaction between a Bank official and the customer.

For Video KYC, customer needs to:

Complete Aadhaar OTP-based EKYC in Bank Application
Keep original PAN Card handy
Be in India while performing Video KYC
Have a smartphone with good data connectivity
After the customer completes his / her Aadhaar eKYC through the Bank Website / Insta Account Opening App available on Playstore, he/she gets connected to a Bank official who undertakes Video KYC.

Typically, during a Video KYC involves the bank official will

Verify customer’s information
Click customer’s picture
Click customer’s PAN card image
Video KYC’s audio-video interaction is validated before the account is finally activated.

Arvind Vohra“We are delighted to announce the launch of Video KYC,” said Mr Arvind Vohra, Group Head – Retail Branch Banking, HDFC Bank. “In the first phase, we’re rolling it out for Savings and Corporate Salary and Personal Loans customers and will be rolled out for other products in a phased manner. This facility is in line with our objective to leverage technology to deliver convenience to our customers. We are happy to state that the Video KYC is an outcome of our agile pod working together as part of the One Bank vision taking one more step in the customer experience excellence journey.”