UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of October, 2018

Commission File Number 001-15216

 

 

HDFC BANK LIMITED

(Translation of registrant’s name into English)

 

 

HDFC Bank House, Senapati Bapat Marg,

Lower Parel, Mumbai. 400 013, India

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒             Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):    Yes  ☐    No  ☒

Note : Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):    Yes  ☐    No  ☒

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.    Yes  ☐    No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- Not Applicable .

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    HDFC BANK LIMITED                                        
                (Registrant)
Date: October 22, 2018     By  

/s/ Santosh Haldankar

    Name: Santosh Haldankar
    Title:   Vice President (Legal) & Company Secretary


EXHIBIT INDEX

The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this Report pursuant to the General Instructions for Form 6-K.

Exhibit I

Description

Communication dated October 20, 2018 addressed to The New York Stock Exchange, New York, United States of America (USA) intimating about outcome of the Board meeting of Bank held on October 20, 2018.


Exhibit I

20 th October, 2018

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir / Madam,

Re: Financial Results for the Quarter and Half Year ended 30th September, 2018

We send herewith the financial results for the second quarter (unaudited) and half year (audited) ended on 30 th September, 2018, segment reporting, Press Release and report of the Statutory Auditor in this regard. The results were duly approved by the Board of Directors at its meeting held today.

The aforesaid audited financial results have been submitted to the stock exchanges in India as per the listing requirements of those Stock Exchanges.

Kindly take the same on your records.

Thanking you,

Yours faithfully,

For HDFC Bank Limited

Sd/-

Santosh Haldankar

Vice President- Legal & Company Secretary

Encl. : a/a.


HDFC BANK LIMITED

FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2018

( LOGO in lacs)

 

    

Particulars

   Quarter ended
    Half year ended
    Year ended
 
   30.09.2018     30.06.2018     30.09.2017     30.09.2018     30.09.2017     31.03.2018  
   Unaudited     Unaudited     Unaudited     Audited     Audited     Audited  
1    Interest Earned (a)+(b)+(c)+(d)      2419956       2254898       1967028       4674854       3833900       8024135  
   a) Interest / discount on advances / bills      1882768       1739073       1535575       3621841       2984181       6266179  
   b) Income on Investments      504224       458929       400646       963153       789943       1622237  
   c) Interest on balances with Reserve Bank of India and other inter bank funds      9358       33238       10649       42596       21469       52388  
   d) Others      23606       23658       20158       47264       38307       83331  
2    Other Income      401559       381806       360590       783365       712256       1522031  
3    Total Income (1)+(2)      2821515       2636704       2327618       5458219       4546156       9546166  
4    Interest Expended      1243615       1173541       991821       2417156       1921619       4014649  
5    Operating Expenses (i)+(ii)      629905       598388       554005       1228293       1090751       2269036  
   i) Employees cost      190921       181051       171577       371972       337328       680574  
   ii) Other operating expenses (Refer Note 8)      438984       417337       382428       856321       753423       1588462  
6    Total Expenditure (4)+(5) (excluding Provisions and Contingencies)      1873520       1771929       1545826       3645449       3012370       6283685  
7    Operating Profit before Provisions and Contingencies (3)-(6)      947995       864775       781792       1812770       1533786       3262481  
8    Provisions (other than tax) and Contingencies      181996       162937       147619       344933       303495       592749  
9    Exceptional Items      —         —         —         —         —         —    
10    Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)      765999       701838       634173       1467837       1230291       2669732  
11    Tax Expense      265426       241694       219070       507120       425804       921057  
12    Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)      500573       460144       415103       960717       804487       1748675  
13    Extraordinary items (net of tax expense)      —         —         —         —         —         —    
14    Net Profit / (Loss) for the period (12)-(13)      500573       460144       415103       960717       804487       1748675  
15    Paid up equity share capital (Face Value of LOGO 2/- each)      54344       52083       51680       54344       51680       51902  
16    Reserves excluding revaluation reserves (as per balance sheet of previous accounting year)                10577601  
17    Analytical Ratios             
   (i) Percentage of shares held by Government of India      Nil       Nil       Nil       Nil       Nil       Nil  
   (ii) Capital Adequacy Ratio      17.1     14.6     15.1     17.1     15.1     14.8
   (iii) Earnings per share ( LOGO )             
   (a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized      18.7       17.7       16.1       36.4       31.3       67.8  
   (b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized      18.5       17.5       15.9       36.0       30.9       66.8  
   (iv) NPA Ratios             
   (a) Gross NPAs      1009773       953862       770284       1009773       770284       860697  
   (b) Net NPAs      302824       290710       259683       302824       259683       260102  
   (c) % of Gross NPAs to Gross Advances      1.33     1.33     1.26     1.33     1.26     1.30
   (d) % of Net NPAs to Net Advances      0.40     0.41     0.43     0.40     0.43     0.40
   (v) Return on assets (average) - not annualized      0.00     0.44     0.47     0.00     0.93     1.93


Segment information in accordance with the Accounting Standard on Segment Reporting (AS 17) of the operating segments of the Bank is as under:

( LOGO  in lacs)

 

Particulars    Quarter ended     Half year ended     Year ended  
   30.09.2018     30.06.2018     30.09.2017     30.09.2018     30.09.2017     31.03.2018  
   Unaudited     Unaudited     Unaudited     Audited     Audited     Audited  
1    Segment Revenue             
a)    Treasury      570578       528532       492717       1099110       966805       1984137  
b)    Retail Banking      2170602       2040059       1798234       4210661       3557463       7384305  
c)    Wholesale Banking      1339481       1237905       1038220       2577386       1975443       4150413  
d)    Other Banking Operations      363889       327863       277984       691752       533101       1225914  
e)    Unallocated      5278       —         —         5278       —         —    
   Total      4449828       4134359       3607155       8584187       7032812       14744769  
   Less: Inter Segment Revenue      1628313       1497655       1279537       3125968       2486656       5198603  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   Income from Operations      2821515       2636704       2327618       5458219       4546156       9546166  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
2    Segment Results             
a)    Treasury      1368       5045       42822       6413       88561       154000  
b)    Retail Banking      301447       314468       263109       615915       475347       997172  
c)    Wholesale Banking      349871       315585       271927       665456       554117       1172051  
d)    Other Banking Operations      158682       117238       110909       275920       209016       548790  
e)    Unallocated      (45369     (50498     (54594     (95867     (96750     (202281
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   Total Profit Before Tax      765999       701838       634173       1467837       1230291       2669732  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
3    Segment Assets             
a)    Treasury      34504331       30170308       27557908       34504331       27557908       35089438  
b)    Retail Banking      40422879       38606584       33628360       40422879       33628360       37190659  
c)    Wholesale Banking      36940961       34681446       28245767       36940961       28245767       29704057  
d)    Other Banking Operations      4437850       3994672       3341673       4437850       3341673       3759549  
e)    Unallocated      683764       587899       590025       683764       590025       649728  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   Total      116989785       108040909       93363733       116989785       93363733       106393431  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
4    Segment Liabilities             
a)    Treasury      8347369       5869806       4127964       8347369       4127964       5534970  
b)    Retail Banking      65759009       62955796       54309020       65759009       54309020       59878546  
c)    Wholesale Banking      25987903       25546051       22015850       25987903       22015850       27028720  
d)    Other Banking Operations      498533       429847       440338       498533       440338       408150  
e)    Unallocated      2673763       2472402       2876242       2673763       2876242       2913542  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   Total      103266577       97273902       83769414       103266577       83769414       95763928  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
5    Capital Employed             
   (Segment Assets-Segment Liabilities)             
a)    Treasury      26156962       24300502       23429944       26156962       23429944       29554468  
b)    Retail Banking      (25336130     (24349212     (20680660     (25336130     (20680660     (22687887
c)    Wholesale Banking      10953058       9135395       6229917       10953058       6229917       2675337  
d)    Other Banking Operations      3939317       3564825       2901335       3939317       2901335       3351399  
e)    Unallocated      (1989999     (1884503     (2286217     (1989999     (2286217     (2263814
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   Total      13723208       10767007       9594319       13723208       9594319       10629503  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by RBI.

 

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.


Notes :

 

  1

Statement of Assets and Liabilities as at September 30, 2018 is given below:

 

 

       

 

( LOGO in lacs)

 

 

 

Particulars    As at
30.09.2018
     As at
30.09.2017
     As at
31.03.2018
 

CAPITAL AND LIABILITIES

   Audited      Audited      Audited  

Capital

     54344        51680        51902  

Reserves and Surplus

     13668864        9542639        10577601  

Deposits

     83336412        68934590        78877064  

Borrowings

     14271858        10153108        12310497  

Other Liabilities and Provisions

     5658307        4681716        4576367  
  

 

 

    

 

 

    

 

 

 

Total

     116989785        93363733        106393431  
  

 

 

    

 

 

    

 

 

 

ASSETS

        

Cash and Balances with Reserve Bank of India

     5074353        3594151        10467047  

Balances with Banks and Money at Call and Short notice

     1373281        988759        1824460  

Investments

     30008586        24027904        24220024  

Advances

     75083810        60486694        65833309  

Fixed Assets

     380580        353287        360721  

Other Assets

     5069175        3912938        3687870  
  

 

 

    

 

 

    

 

 

 

Total

     116989785        93363733        106393431  
  

 

 

    

 

 

    

 

 

 

 

  2

The above results have been approved by the Board of Directors at its meeting held on October 20, 2018. The results for the quarter and half year ended September 30, 2018 have been subjected to limited reveiw and an audit respectively by the Statutory Auditors of the Bank. The reports theron are unmodified. The financial results for the quarter and half year ended September 30, 2017 and the year ended March 31, 2018 were subjected to limited review / audit by another firm of chartered accountants.

  3

The Bank has followed the same significant accounting policies in the preparation of these financial results as those followed in the annual financial statements for the year ended March 31, 2018.

  4

During the quarter and half year ended September 30, 2018, the Bank allotted 85,74,281 and 1,76,41,881 equity shares respectively pursuant to the exercise of options under the approved employee stock option schemes.

  5

On July 17, 2018, the Bank made a preferential allotment of 3,90,96,817 equity shares to Housing Development Finance Corporation Limited at a price of LOGO  2,174.09 per equity share (including share premium of LOGO  2,172.09 per equity share), aggregating to LOGO  8,500 crore. On August 2, 2018, the Bank concluded a Qualified Institutional Placement (QIP) of 1,28,47,222 equity shares at a price of LOGO  2,160 per equity share aggregating to LOGO  2,775 crore and an American Depository Receipt (ADR) offering of 1,75,00,000 ADRs (representing 5,25,00,000 equity shares) at a price of USD 104 per ADR, aggregating to USD 1,820 million (equivalent LOGO  12,440.90 crore). Consequent to the above issuances, share capital increased by LOGO  20.89 crore and share premium increased by LOGO  23,568.72 crore, net of share issue expenses of LOGO  126.29 crore. The issuances were made pursuant to the shareholder and regulatory approvals.

  6

In accordance with RBI guidelines, banks are required to make Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III Framework. The Bank’s Pillar 3 disclosures are available on its website at the following link: http://www.hdfcbank.com/aboutus/basel_disclosures/default.htm. These disclosures have not been subjected to audit or review by the statutory auditors.

  7

Other income relates to income from non-fund based banking activities including commission, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments and recoveries from accounts previously written off.

  8

Other operating expenses include commission paid to sales agents of LOGO  705.44 crore (previous period : LOGO  600.00 crore) and LOGO  1,442.66 crore (previous period : LOGO  1,130.21 crore) for the quarter and half year ended September 30, 2018 respectively.

  9

Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current period’s classification.

  10

LOGO  10 lac = LOGO  1 million

LOGO  10 million = LOGO  1 crore

 

Place : Mumbai    Aditya Puri
Date : October 20, 2018    Managing Director

 

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.


LOGO    NEWS RELEASE   

HDFC Bank Ltd.

HDFC Bank House,

Senapati Bapat Marg,

Lower Parel,

Mumbai - 400 013.

 

HDFC Bank Limited

FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER AND HALF YEAR

ENDED SEPTEMBER 30, 2018

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and half year ended September 30, 2018, at their meeting held in Mumbai on Saturday, October 20, 2018. The accounts have been subjected to an audit by the statutory auditors of the Bank.

FINANCIAL RESULTS:

Profit & Loss Account: Quarter ended September 30, 2018

The Bank’s total income for the quarter ended September 30, 2018 at LOGO  28,215.2 crore grew by 21.2% from LOGO  23,276.2 crore for the quarter ended September 30, 2017. Net revenues (net interest income plus other income) increased by 18.1% to LOGO  15,779.0 crore for the quarter ended September 30, 2018 from LOGO  13,358.0 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended September 30, 2018 grew by 20.6% to LOGO 11,763.4 crore, from LOGO  9,752.1 crore for the quarter ended September 30, 2017, driven by average asset growth of 22.9% and a net interest margin for the quarter of 4.3%.

Other income (non-interest revenue) for the quarter ended September 30, 2018 was LOGO  4,015.6 crore. Fees and commission income at LOGO  3,295.6 crore for the quarter ended September 30, 2018 constituted 82.1% of other income and grew by 26.1% over LOGO  2,614.0 crore in the corresponding quarter ended September 30, 2017. The other three components of other income for the quarter ended September 30, 2018 were foreign exchange & derivatives revenue of LOGO  419.8 crore ( LOGO  384.0 crore for the corresponding quarter of the previous year), loss on revaluation / sale of investments of LOGO  32.8 crore (gain of LOGO  355.9 crore for the corresponding quarter of the previous year) and miscellaneous income, including recoveries, of LOGO  333.0 crore ( LOGO  252.0 crore for the corresponding quarter of the previous year).


LOGO    NEWS RELEASE   

HDFC Bank Ltd.

HDFC Bank House,

Senapati Bapat Marg,

Lower Parel,

Mumbai - 400 013.

 

Operating expenses for the quarter ended September 30, 2018 were LOGO  6,299.1 crore, an increase of 13.7% over LOGO  5,540.1 crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 39.9% as against 41.5% for the corresponding quarter ended September 30, 2017.

Provisions and contingencies for the quarter ended September 30, 2018 were LOGO  1,820.0 crore (consisting of specific loan loss provisions LOGO  1,572.5 crore and general provisions and other provisions LOGO  247.5 crore) as against LOGO  1,476.2 crore (consisting of specific loan loss provisions LOGO  1,078.8 crore and general and other provisions LOGO  397.4 crore) for the quarter ended September 30, 2017.

Profit before tax (PBT) for the quarter ended September 30, 2018 was up 20.8% to LOGO  7,660.0 crore.

After providing LOGO  2,654.3 crore for taxation, the Bank earned a net profit of LOGO  5,005.7 crore, an increase of 20.6% over the quarter ended September 30, 2017.

Balance Sheet: As of September 30, 2018

Total balance sheet size as of September 30, 2018 was LOGO  11,69,898 crore as against LOGO  9,33,637 crore as of September 30, 2017.

Total deposits as of September 30, 2018 were LOGO  8,33,364 crore, an increase of 20.9% over September 30, 2017. CASA deposits grew at 18.3% with savings account deposits growing by 18.7% over the previous year to reach LOGO  2,34,568 crore and current account deposits growing by 17.7% over the previous year to reach LOGO  1,15,131 crore. Time deposits were at LOGO  4,83,665 crore, an increase of 22.8% over the previous year, resulting in CASA deposits comprising 42.0% of total deposits as of September 30, 2018. The focus on deposits has helped in maintenance of a healthy liquidity coverage ratio at 118%, much above the regulatory requirement.


LOGO    NEWS RELEASE   

HDFC Bank Ltd.

HDFC Bank House,

Senapati Bapat Marg,

Lower Parel,

Mumbai - 400 013.

 

Total advances as of September 30, 2018 were LOGO  7,50,838 crore. Domestic advances grew by 24.2% over September 30, 2017. As per regulatory [Basel 2] segment classification, domestic retail loans grew by 23.8% and domestic wholesale loans grew by 24.7% (as per internal business classification, the growth was 23.3% and 26.2% respectively). The domestic loan mix as per Basel 2 classification between retail:wholesale was 55:45. Overseas advances constituted 3% of total advances.

Half Year ended September 30, 2018

For the half year ended September 30, 2018, the Bank earned a total income of LOGO  54,582.2 crore as against LOGO  45,461.6 crore in the corresponding period of the previous year. Net revenues (net interest income plus other income) for the six months ended September 30, 2018 were LOGO  30,410.6 crore, as against LOGO  26,245.4 crore for the six months ended September 30, 2017. Net profit for the half year ended September 30, 2018 was LOGO  9,607.2 crore, up by 19.4% over the corresponding half year ended September 30, 2017.

Capital Adequacy:

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 17.1% as on September 30, 2018 (15.1% as on September 30, 2017) as against a regulatory requirement of 11.025% which includes Capital Conservation Buffer of 1.875%, and an additional requirement of 0.15% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB).

Tier 1 CAR was at 15.6% as of September 30, 2018 compared to 13.3% as of September 30, 2017. Common Equity Tier 1 Capital ratio was at 14.7% as of September 30, 2018. Risk-weighted Assets were at LOGO  8,86,489 crore (as against LOGO  7,38,465 crore as at September 30, 2017).


LOGO    NEWS RELEASE   

HDFC Bank Ltd.

HDFC Bank House,

Senapati Bapat Marg,

Lower Parel,

Mumbai - 400 013.

 

On July 17, 2018, the Bank made a preferential allotment of 3,90,96,817 equity shares to Housing Development Finance Corporation Limited at an issue price of LOGO  2,174.09 per equity share aggregating to LOGO  8,500 crore. On August 2, 2018, the Bank concluded a Qualified Institutions Placement (QIP) of 1,28,47,222 equity shares at a price of LOGO  2,160 per equity share aggregating to LOGO  2,775 crore and an American Depository Receipt (ADR) offering of 1,75,00,000 ADRs (representing 5,25,00,000 equity shares) at a price of USD 104 per ADR, aggregating to USD 1,820 million. Consequent to the above issuances, total equity (including share premium) increased by LOGO  23,590 crore, net of share issue expenses.

NETWORK

As of September 30, 2018, the Bank’s distribution network was at 4,825 banking outlets and 13,018 ATMs across 2,718 cities / towns as against 4,729 banking outlets and 12,259 ATMs across 2,669 cities / towns as of September 30, 2017. Of the total banking outlets, 53% are in semi-urban and rural areas. Number of employees were at 94,907 as of September 30, 2018 (as against 86,457 as of September 30, 2017).

ASSET QUALITY

Gross non-performing assets were at 1.33% of gross advances as on September 30, 2018, as against 1.33% as on June 30, 2018 and 1.26% as on September 30, 2017. Coverage ratio as on September 30, 2018 was 70%. Net non-performing assets were at 0.4% of net advances as on September 30, 2018. The Bank held floating provisions of LOGO  1,451 crore as on September 30, 2018. Total provisions (comprising specific provisions, general provisions and floating provisions) were 117% of the gross non-performing loans as on September 30, 2018.

Note:

LOGO  = Indian Rupees

1 crore = 10 million

All figures and ratios are in accordance with Indian GAAP.


LOGO    NEWS RELEASE   

HDFC Bank Ltd.

HDFC Bank House,

Senapati Bapat Marg,

Lower Parel,

Mumbai - 400 013.

 

BSE: 500180

NSE: HDFCBANK

NYSE: HDB

Certain statements are included in this release which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions, that are “forward-looking statements.” Actual results may differ materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for various banking services, future levels of our non-performing loans, our growth and expansion, the adequacy of our allowance for credit and investment losses, technological changes, volatility in investment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changes in banking regulations and other regulatory changes on us in India and other jurisdictions, our ability to roll over our short-term funding sources and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to: general economic and political conditions, instability or uncertainty in India and the other countries which have an impact on our business activities or investments caused by any factor, including terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks by the United States, a United States-led coalition or any other country, tensions between India and Pakistan related to the Kashmir region or between India and China, military armament or social unrest in any part of India; the monetary and interest rate policies of the government of India, natural calamities, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices; the performance of the financial markets in India and globally, changes in Indian and foreign laws and regulations, including tax, accounting and banking regulations, changes in competition and the pricing environment in India, and regional or general changes in asset valuations.

For more information please log on to: www.hdfcbank.com

For media queries please contact:

Neeraj Jha

Head, Corporate Communication

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1308 (D) / 6652 1000 (B)

Fax: 91 - 22 - 2490 3168

Mobile: +91 93236 20828

neeraj.jha@hdfcbank.com

For investor queries please contact:

Bhavin Lakhpatwala

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1083 (D) / 6652 1000 (B)

Mobile: +91 74983 51730

bhavin.lakhpatwala@hdfcbank.com