Key Developments: HDFC Bank Ltd (HDBK.BO)
6 Dec 2013
Latest Key Developments (Source: Significant Developments)
HDFC Bank Ltd announced that the Bank on July 30, 2012 has allotted 1,690,200 equity shares to the employees of the Bank pursuant to exercise of options. Full Article
The Economic Times reported that Camson Bio Technologies Ltd has entered into a MoU with the HDFC Bank Limited. The strategic alliance will help HDFC Bank to penetrate in rural India through Camson's dealership network. Under the agreement, HDFC Bank will approach Camson's nearly 3000 dealers and appoint them as Business Consultant (BC) or Business Facilitator (BF) as per RBI's Financial Inclusion Policy and they will be provided with a customised current account offering, credit facilities at special rates. The business facilitator will be able to do almost all the transactions that a consumer avails at any ATM. Full Article
Wells Fargo & Co announced that it has doubled its ExpressSend remittance network payout locations in India through an agreement with HDFC Bank Limited. With the addition of HDFC Bank`s more than 2,500 branches and over 8,900 ATMs, Wells Fargo customers` beneficiaries can now choose from a network in India of over 5,200 branches and more than 16,000 ATMs for remittances to India. Wells Fargo ExpressSend customers can send up to $5,000 per day to their beneficiary`s HDFC Bank account using the account-based ExpressSend service for a $5 fee. The fee for account-based transfers to HDFC Bank will be waived through August 31, 2012. Full Article
HDFC Bank Limited announced that the Board of Directors of the Company at its meeting held on April 18, 2012, inter alia, have recommended a dividend of INR4.30 equity share of INR2 each (i.e. 215%) out of the net profits for the year ended March 31, 2012. Full Article
MUMBAI, Oct 15 - India's No.3 lender by assets HDFC Bank posted quarterly profit growth of 27 percent, in line with analyst estimates, due to losses in its investment portfolio, higher operating expenses and worsening asset quality.