HDFC Bank has unveiled its strategy to raise Rs 60,000 crore through a variety of debt instruments. The decision came following the approval granted during the Board of Directors meeting held on Saturday. The board greenlit the “annual renewal of issuance of Long-Term Bonds (for Infrastructure and Affordable Housing financing), Perpetual Debt Instruments (as part of Additional Tier I capital), and Tier II Capital Bonds, totaling up to Rs. 60,000 crore over the next twelve months through private placement mode.” However, this fundraising initiative is contingent upon the approval of the Bank’s shareholders and any requisite regulatory approvals.
n the January-March quarter of 2023-24, HDFC Bank reported a net profit of Rs 16,511 crore, marking a 0.84 per cent increase from the previous quarter’s Rs 16,373 crore. Comparing year-on-year financial results is not feasible due to the merger with the parent entity HDFC Ltd during the preceding financial year.
As per a report from S&P Global Market Intelligence, three Indian lenders have secured positions in the top 50 banks by assets in the Asia-Pacific region in 2023, a rise from two in 2022. These Indian banks include the State Bank of India, HDFC Bank, and ICICI Bank.
The report highlights Indian banks’ exceptional performance compared to their peers in Asia, attributing this success to improved financial metrics and robust credit growth in a thriving economic environment. Following the merger, HDFC Bank’s assets surged by 51.3 per cent to USD 466.35 billion, elevating its position by 13 places to 33 in the top 50 ranking.
