Banking, by its very nature has a multiplier effect on the economy. HDFC Bank has been at the forefront of banking in India, through innovation, efficiency and customer-centricity. This has earned us the distinction of being one of the most trusted financial institutions in the country. The Bank focuses on holistic value creation for stakeholders. It plays a critical role in achieving individuals' financial goals, fostering business growth, making a difference to the lives of people through our social initiatives and contributing to the nation's overall progress.
Our strength lies in identifying promising opportunities and capitalising on them quickly through our execution skills. Our extensive physical and digital footprint enables us to extend world-class banking services to even remote parts of the country. We have consistently grown our balance sheet and profits while maintaining a best-in-class asset quality.
Merger: The Power of One
The merger of HDFC Limited with and into HDFC Bank has created a stronger financial services conglomerate with the addition of subsidiaries like HDFC Life, HDFC ERGO and HDFC AMC. This has opened up a fresh pathway for future growth through the ownership of a reputed home loan product, thereby enhancing our ability to serve customers better and tap into opportunities for cross-sell. Thus, the merger further fortifies our position in the market.
Catering to the Financial Needs of Indians
We provide a wide array of products and services that cater to the diverse needs of retail and business (MSMEs and emerging corporates), customers spread across metros, urban, semi-urban and rural locations. From personal loans and mortgages to working capital and trade finance, we offer solutions that are designed to meet the evolving requirements of our customers. We strive to support every stage of a customer's financial journey.
Enhancing Efficiency and Experience with Digitalisation
The customer landscape is ever evolving and our dynamic customer-centric approach leverages the power of technology in meeting their needs. The Bank has a robust digital ecosystem that enhances customer experience through seamless online journeys, driving operational efficiencies and enabling the customer to stay connected with the Bank on a continuous basis. We prioritise personalised digital banking, offering tailored solutions and inclusive access.
Driving Change Through Parivartan
Through our CSR initiative, Parivartan, we impact the lives of people and are committed to developing sustainable ecosystems through five focused areas. These are Rural Development, Education, Skill Development and Livelihood Enhancement, Healthcare and Hygiene, and Financial Literacy and Inclusion. These contribute towards societal growth and social well-being.
Growing with Our People
At HDFC Bank, we are committed to grow with our people. We foster an inclusive environment where every employee has the tools to succeed. We value diversity and are dedicated to bridging the gender gap, nurturing an atmosphere of mutual growth and support. This reflects our values and commitment to equality.
Committed to a Sustainable Future
Sustainability is a core value of the Bank. Evaluating Environmental, Social, and Governance (ESG) risks is now a part of our credit appraisal process. Capturing ESG data from our internal operations remains a priority. We have committed to becoming
Building Trust and Transparency
In our quest for profitable growth, we do not lose sight of Governance standards. Our Governance Framework ensures rigorous compliance with regulations maintaining robust risk management and internal controls, to ensure sustainable value creation for our stakeholders.
In Step with the Nation's Growth
With India embarking on a long-term journey of inclusive progress, the banking industry must play a pivotal role. We at HDFC Bank are well positioned to contribute to this, through our innovative financial solutions, a widespread network, strategic partnerships and social initiatives.
Balance Sheet Size (K Cr)
Profit After Tax (K Cr)
Earnings Per Share (K)
Return On Equity (%)
Dividend Per Share (K)
Return on Assets
Note: The figures for the year ended March 31, 2024 include the operations of erstwhile HDFC Limited which amalgamated with and into HDFC Bank on July 01, 2023 and hence the comparisons with the previous periods have to be looked at in light of the same.
Online version of the report can be accessed here
About the Report
Home Loan Advantage
Re-imagining Value Creation -
Power of the Group
Introduction to HDFC Bank
The merger has further strengthened our position as a
leading financial conglomerate.
Part-time Chairman and Independent Director, HDFC Bank Limited
Message from the MD & CEO
With our financial discipline, prudent investment in technology and a passionate commitment to customer centricity, I'm pleased to report that your Bank has
Managing Director & Chief Executive Officer, HDFC Bank Limited
Commercial and Rural Banking
How We Create Value
Our Value Creation Model
Strategy in Action
Management Program, Information &
Cyber Security Practices and
Data Privacy Measures
ESG Strategy Encompassing
Future Ready Digital Bank
Connecting the Capitals
Board of Directors
10 year Financial Highlights
Statutory Reports and
Independent Auditor's Report for
Profit and Loss Account
Cash Flow Statement
Schedules to the
Independent Auditor's Report for
Consolidated Balance Sheet
Consolidated Profit and
Cash Flow Statement
Schedules to the
Sebi Listing Regulations
Business Responsibility and
A B O U T T H E R E P O R T
The Integrated Annual Report for FY 2023-24 offers a comprehensive overview of HDFC Bank's (referred to as 'We', 'Us', or 'the Bank') journey in fulfilling its purpose, demonstrating how the Bank generates value for stakeholders, including customers, shareholders, investors, regulators, employees, and society. The merger of HDFC Bank
and erstwhile HDFC Ltd represents a significant milestone, creating a robust entity positioned to influence India's growth trajectory. This commitment underscores the Bank's value creation narrative and its broader impact. Beyond financial metrics, the report delves
into non-financial performance, risks, opportunities, strategic priorities, and sustainability efforts. Additionally, it also provides insights into the governance and risk management framework that underpins the Bank's performance.
Reporting Principles and Framework
The financial information presented in this report is in line with the requirements of
0 4 HDFC Bank Limited
Materiality and Scope
This report includes information which is material to all stakeholders of the Bank and provides an overview of its business and related activities. The report discloses matters that substantially impact or affect the Bank's ability to create value and could influence decisions of providers of financial capital. In FY23, we conducted a materiality assessment in accordance with the updated GRI Standards 2021. In FY24, the material matters thus identified were reviewed and refreshed to integrate the concept of double materiality. These reprioritised matters now represent topics which are not only relevant with respect to their financial significance to our business but also in terms of potential impacts on the planet and the society. For GRI topics and relevant disclosures, please refer
to the GRI Content Index, provided in the report.
Read more on pg. 38
The non-financial information in this report covers the activities and progress of the Bank on a standalone basis. During the financial year 23-24 erstwhile HDFC Investments Limited ("eHDFC Investments") and erstwhile HDFC Holdings Limited ("eHDFC Holdings"), merged with and into erstwhile Housing Development Finance Corporation Limited ("eHDFC Limited") and thereafter eHDFC Limited merged with and into HDFC Bank Limited , thus the non- financial information of the Bank for the year ended March 31, 2024 includes the information from the operations of eHDFC Limited, eHDFC Investments and eHDFC Holdings for the period from July 01,
2023 to March 31, 2024.The report covers information pertaining to the period from April 1, 2023 to March 31, 2024.
Further, in order to ensure consistency and completeness of the non-financial information, the Bank has adopted certain methodologies/assumptions with respect to scope 1 emissions, which are different than those adopted in the previous financial year and appropriate notes have been given to explain the same under the 'Environment' section.
As a result of the merger and changes as mentioned above, the non-financial information of the Bank for the year ended March 31, 2024 is not comparable with that of the previous financial year.
The last year report was published for the period April 1, 2022 to March 31, 2023. The Integrated Report for FY23 can be accessed here
Reasonable assurance on BRSR Core KPIs and limited assurance on the Identified Sustainability Information in the BRSR & Integrated Annual Report respectively has been provided by Price Waterhouse LLP, in accordance with the Standard on Sustainability Assurance Engagements 3000 "Assurance Engagements on Sustainability Information" and the Standard on Assurance Engagements 3410 "Assurance Engagements on Greenhouse Gas Statements", both issued by the Sustainability Reporting Standards Board of the ICAI and the International Standard on Assurance Engagement ("ISAE") 3000 (Revised) "Assurance Engagements other than Audits or Reviews of Historical Financial Information" and the ISAE 3410 "Assurance Engagements on Greenhouse Gas Statements". The assurance reports attached contains details of the subject matter, criteria, procedures performed, and reasonable assurance opinion
and limited assurance conclusion, as applicable.
The content of this report has been reviewed by the Senior Management of the Bank and is reviewed and approved by the Board of Directors to ensure accuracy, completeness and relevance of the information presented in line with the principles and requirements of the Integrated Reporting Framework.
Governance over Integrated Reporting Process
The FY24 Integrated Annual Report reflects a rigorous organisation-wide process, overseen by the Group Executives and the Board, showcasing the organisation's integrated thinking. Led by the Group CFO, the report draws from extensive discussions across multiple functions, board minutes & discussions and aligns with the Integrated Reporting Framework. Following multiple drafts and reviews, the final approval process, conducted by the CFO and Senior Management, ensures accuracy before presentation to the Board of Directors.