Edgar Filing: HDFC BANK LTD

Form 6-K

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 January, 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: 20^th January, 2018	By	/s/ Sanjay Dongre
	Name: Sanjay Dongre
	Title: Executive 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 19^th January, 2017 addressed to The New York Stock Exchange, New York, United States of America (USA) intimating about Outcome of Board Meeting held on 19^th January, 2017.

Exhibit I

19^th January, 2018

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir / Madam,

Re: Financial Results for the Quarter ended 31^st December, 2017

We attach herewith a file containing the Financial Results for the third quarter (unaudited) ended 31^st December, 2017, segment reporting and press release in this regard.

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

This is for your information and record.

Thanking you,

Yours faithfully,

For HDFC Bank Limited

Sd/-

Sanjay Dongre

Executive Vice President – Legal & Company Secretary

Encl. : a/a.

HDFC BANK LIMITED

FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2017


																	(₹ in lacs)
		Quarter ended 31.12.2017			Quarter ended 30.09.2017			Quarter ended 31.12.2016			Nine months ended 31.12.2017			Nine Months ended 31.12.2016			Year ended 31.03.2017
	Particulars	Unaudited			Unaudited			Unaudited			Unaudited			Unaudited			Audited
1	Interest Earned (a)+(b)+(c)+(d)		2058127			1967028			1760560			5892027			5119156			6930596
	a) Interest / discount on advances / bills		1615661			1535575			1317564			4599842			3854781			5205526
	b) Income on Investments		410030			400646			404934			1199973			1167665			1594434
	c) Interest on balances with Reserve Bank of India and other inter bank funds		11238			10649			18688			32707			36676			53202
	d) Others		21198			20158			19374			59505			60034			77434
2	Other Income		386917			360590			314267			1099173			885023			1229649
3	Total Income (1)+(2)		2445044			2327618			2074827			6991200			6004179			8160245
4	Interest Expended		1026693			991821			929651			2948312			2710744			3616674
5	Operating Expenses (i)+(ii)		573222			554005			484251			1663973			1448136			1970332
	i) Employees cost		169126			171577			168863			506454			493101			648366
	ii) Other operating expenses (Refer Note 9)		404096			382428			315388			1157519			955035			1321966
6	Total Expenditure (4)+(5) (excluding Provisions & Contingencies)		1599915			1545826			1413902			4612285			4158880			5587006
7	Operating Profit before Provisions and Contingencies (3)-(6)		845129			781792			660925			2378915			1845299			2573239
8	Provisions (other than tax) and Contingencies		135144			147619			71578			438639			233150			359330
9	Exceptional Items		—			—			—			—			—			—
10	Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)		709985			634173			589347			1940276			1612149			2213909
11	Tax Expense		245725			219070			202814			671529			556192			758943
12	Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)		464260			415103			386533			1268747			1055957			1454966
13	Extraordinary items (net of tax expense)		—			—			—			—			—			—
14	Net Profit / (Loss) for the period (12)-(13)		464260			415103			386533			1268747			1055957			1454966
15	Paid up equity share capital (Face Value of ₹ 2/- each)		51802			51680			51107			51802			51107			51251
16	Reserves excluding revaluation reserves																	8894987
17	Analytical Ratios
	(i) Percentage of shares held by Government of India		Nil			Nil			Nil			Nil			Nil			Nil
	(ii) Capital Adequacy Ratio		15.5	%		15.1	%		15.9	%		15.5	%		15.9	%		14.6	%
	(iii) Earnings per share (₹)
	(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized		17.9			16.1			15.2			49.2			41.6			57.2
	(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized		17.7			15.9			15.0			48.6			41.1			56.4
	(iv) NPA Ratios
	(a) Gross NPAs		823488			770284			523227			823488			523227			588566
	(b) Net NPAs		277366			259683			156432			277366			156432			184399
	(c) % of Gross NPAs to Gross Advances		1.29	%		1.26	%		1.05	%		1.29	%		1.05	%		1.05	%
	(d) % of Net NPAs to Net Advances		0.44	%		0.43	%		0.32	%		0.44	%		0.32	%		0.33	%
	(v) Return on assets (average) - not annualized		0.50	%		0.47	%		0.49	%		1.43	%		1.40	%		1.88	%

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


																	(₹ in lacs)
Particulars		Quarter ended 31.12.2017			Quarter ended 30.09.2017			Quarter ended 31.12.2016			Nine months ended 31.12.2017			Nine Months ended 31.12.2016			Year ended 31.03.2017
Particulars		Unaudited			Unaudited			Unaudited			Unaudited			Unaudited			Audited
1	Segment Revenue
a)	Treasury		503703			492717			517567			1470508			1485571			2032618
b)	Retail Banking		1869320			1798234			1695107			5426783			4931687			6614750
c)	Wholesale Banking		1078527			1038220			827748			3053970			2416542			3258785
d)	Other Banking Operations		326442			277984			233082			859543			640694			904669
e)	Unallocated		—			—			—			—			—			—
	Total		3777992			3607155			3273504			10810804			9474494			12810822
	Less: Inter Segment Revenue		1332948			1279537			1198677			3819604			3470315			4650577

	Income from Operations		2445044			2327618			2074827			6991200			6004179			8160245

2	Segment Results
a)	Treasury		41235			42822			37880			129796			123256			165911
b)	Retail Banking		230001			263109			230844			705348			621044			843216
c)	Wholesale Banking		339253			271927			269574			893370			752870			1012304
d)	Other Banking Operations		154521			110909			94328			363537			227199			336533
e)	Unallocated		(55025	)		(54594	)		(43279	)		(151775	)		(112220	)		(144055	)

	Total Profit Before Tax		709985			634173			589347			1940276			1612149			2213909

3	Segment Assets
a)	Treasury		26447291			27557908			28556289			26447291			28556289			26335640
b)	Retail Banking		34979225			33628360			27721544			34979225			27721544			29582892
c)	Wholesale Banking		29172014			28245767			23238253			29172014			23238253			27214883
d)	Other Banking Operations		3633910			3341673			2747197			3633910			2747197			2720588
e)	Unallocated		675500			590025			538686			675500			538686			530018

	Total		94907940			93363733			82801969			94907940			82801969			86384021

4	Segment Liabilities
a)	Treasury		4653686			4127964			3783639			4653686			3783639			3873249
b)	Retail Banking		55962663			54309020			52831431			55962663			52831431			52579290
c)	Wholesale Banking		21214705			22015850			15662432			21214705			15662432			19125490
d)	Other Banking Operations		428484			440338			392147			428484			392147			314274
e)	Unallocated		2542143			2876242			1629851			2542143			1629851			1545480

	Total		84801681			83769414			74299500			84801681			74299500			77437783

5	Capital Employed
	(Segment Assets-Segment Liabilities)
a)	Treasury		21793605			23429944			24772650			21793605			24772650			22462391
b)	Retail Banking		(20983438	)		(20680660	)		(25109887	)		(20983438	)		(25109887	)		(22996398	)
c)	Wholesale Banking		7957309			6229917			7575821			7957309			7575821			8089393
d)	Other Banking Operations		3205426			2901335			2355050			3205426			2355050			2406314
e)	Unallocated		(1866643	)		(2286217	)		(1091165	)		(1866643	)		(1091165	)		(1015462	)

	Total		10106259			9594319			8502469			10106259			8502469			8946238

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 on December 31, 2017 is given below.


					(₹ in lacs)
	As at 31.12.2017		As at 31.12.2016		As at 31.03.2017
Particulars	Unaudited		Unaudited		Audited
CAPITAL AND LIABILITIES
Capital		51802		51107		51251
Reserves and Surplus		10054457		8451362		8894987
Deposits		69902641		63470456		64363966
Borrowings		10386678		7212115		7402887
Other Liabilities and Provisions		4512362		3616929		5670930

Total		94907940		82801969		86384021

ASSETS
Cash and Balances with Reserve Bank of India		3438547		4999976		3789687
Balances with Banks and Money at Call and Short notice		562204		410256		1105523
Investments		23272358		23605550		21446334
Advances		63121466		49504333		55456820
Fixed Assets		350245		349032		362675
Other Assets		4163120		3932822		4222982

Total		94907940		82801969		86384021

The above results have been approved by the Board of Directors at its meeting held on January 19, 2018. The results for the quarter and nine months ended December 31, 2017 have been subjected to a ‘Limited Review’ by the Statutory Auditors of the Bank. An unqualified report has been issued by them thereon.

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, 2017.

4	During the quarter and nine months ended December 31, 2017, the Bank allotted 6127000 and 27577900 shares respectively pursuant to the exercise of options under the approved employee stock option schemes.

5	During the nine months ended December 31, 2017, the Bank raised Additional Tier 1 Capital bonds of ₹ 8,000 crore and Tier 2 Capital bonds of ₹ 2,000 crore.

The Board of Directors of the Bank, at their meeting held on December 20, 2017 approved the raising of funds aggregating up to ₹ 24,000 crore, of which an amount up to a maximum of ₹ 8,500 crore shall be through the issuance of equity shares of face value of ₹ 2/- each pursuant to a preferential issue to Housing Development Finance Corporation Limited (the Bank’s promoters) and the balance shall be through the issuance of equity shares/ convertible securities/ depository receipts pursuant to a Qualified Institutions Placement (QIP)/ American Depository Receipts (ADR)/ Global Depository Receipt (GDR) program. The said raising of funds is subject to the approval of the shareholders and applicable regulatory authorities.

RBI circular DBOD.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015 on ‘Basel III Capital Regulations’ read together with the RBI circular DBR.No.BP.BC.80/21.06.201/2014-15 dated March 31, 2015 on ‘Prudential Guidelines on Capital Adequacy and Liquidity Standards - Amendments’ requires banks to make applicable Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III Framework. These disclosures are available on the Bank’s website at the following link: http://www.hdfcbank.com/aboutus/basel_disclosures/default.htm. The disclosures have not been subjected to audit or review by the statutory auditors.

8	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.

Other operating expenses include commission paid to sales agents of ₹ 637.32 crore (previous period : ₹ 465.30 crore) and ₹ 1,767.52 crore (previous period : ₹ 1,398.15 crore) for the quarter and nine months ended December 31, 2017 respectively and of ₹ 1,906.80 crore for the year ended March 31, 2017.

10a

As part of its supervisory process for the year ended March 31, 2017, the RBI had pointed out certain modifications in respect of the Bank’s asset classification of three accounts as on March 31, 2017, as per the table below. In respect of each of these accounts, the Bank is a member of the Joint Lenders’ Forum (JLF) formed under the regulatory framework for revitalizing distressed assets in the economy.


Sr. No.	Particulars	( ₹ in crore)
1	Gross NPAs as on March 31, 2017, as reported by the Bank		5,885.66
2	Gross NPAs as on March 31, 2017, as assessed by RBI		7,937.42
3	Divergence in Gross NPAs (2-1)		2,051.76
4	Net NPAs as on March 31, 2017, as reported by the Bank		1,843.99
5	Net NPAs as on March 31, 2017, as assessed by RBI		3,102.36
6	Divergence in Net NPAs (5-4)		1,258.37
7	Provisions for NPAs as on March 31, 2017, as reported by the Bank		4,041.67
8	Provisions for NPAs as on March 31, 2017, as assessed by RBI		4,835.06
9	Divergence in provisioning (8-7)*		793.39
10	Reported Net Profit after Tax (PAT) for the year ended March 31, 2017		14,549.66
11	Adjusted (notional) Net Profit after Tax (PAT) for the year ended March 31, 2017 after taking into account the divergence in provisioning		14,028.24

*	The Bank had held sufficient provisions in this regard as at September 30, 2017.

10b

In relation to one of the above accounts, the Bank had participated in a project loan which underwent flexible structuring under the 5:25 regulatory framework as approved by the JLF in February 2016. Pursuant to a regulatory communication, in October 2017 the said customer account was classified by the Bank as non-performing with effect from March 2016. The JLF in its meeting on December 30, 2017 received confirmations from all lenders, including the Bank, regarding satisfactory performance of the account during the specified period (post February 2016) including confirmation of nil overdues as on December 30, 2017. Hence, in terms of para 17.2.3 of the RBI Master Circular DBR.No.BP.BC.2/21.04.048/2015-16 dated July 1, 2015, the JLF decided to upgrade the account classification to ‘standard’. The Bank has accordingly upgraded the account classification to ‘standard’ in its books.

10c	Consequent to the above, the position of Gross NPAs as at December 31, 2017 in relation to the divergence is as follows:


Particulars	( ₹ in crore)
Divergence in Gross NPAs as at March 31, 2017		2,051.76
Upgraded based on JLF decision (see note 10b above)		(1,707.18	)
Net reductions		(50.40	)
Balance NPAs as at December 31, 2017		294.18

11	As at December 31, 2017, the total number of branches (including extension counters) and ATM network stood at 4,734 branches and 12,333 ATMs respectively.

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

13	₹ 10 lac = ₹ 1 million

₹10 million = ₹ 1 crore


Place : Mumbai		Aditya Puri
Date : January 19, 2018		Managing Director

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

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 NINE MONTHS ENDED DECEMBER 31, 2017

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter ended December 31, 2017, at their meeting held in Mumbai on Friday, January 19, 2018. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.

FINANCIAL RESULTS:

Profit & Loss Account: Quarter ended December 31, 2017

The Bank’s total income for the quarter ended December 31, 2017 was ₹ 24,450.4 crore, up from ₹ 20,748.3 crore for the quarter ended December 31, 2016. Net revenues (net interest income plus other income) increased by 23.9% to ₹ 14,183.5 crore for the quarter ended December 31, 2017 from ₹ 11,451.8 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended December 31, 2017 grew by 24.1% to ₹ 10,314.3 crore, from ₹ 8,309.1 crore for the quarter ended December 31, 2016, driven by average asset growth of 16.6% and a core net interest margin for the quarter of 4.3%.

Other income (non-interest revenue) at ₹ 3,869.2 crore was 27.3% of the net revenues for the quarter ended December 31, 2017 and grew by 23.1% over ₹ 3,142.7 crore in the corresponding quarter ended December 31, 2016. The four components of other income for the quarter ended December 31, 2017 were fees & commissions of ₹ 2,872.1 crore (₹ 2,206.8 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 426.2 crore (₹ 297.2 crore for the corresponding quarter of the previous year), gain on revaluation / sale of investments of ₹ 259.4 crore (₹ 398.6 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries, of ₹ 311.4 crore (₹ 240.0 crore for the corresponding quarter of the previous year).


		NEWS RELEASE		HDFC Bank Ltd.
				HDFC Bank House,
				Senapati Bapat Marg,
				Lower Parel,
				Mumbai - 400 013.

Operating expenses for the quarter ended December 31, 2017 were ₹ 5,732.2 crore, an increase of 18.4% over ₹ 4,842.5 crore during the corresponding quarter of the previous year. The core cost-to-income ratio for the quarter was at 41.2% as against 43.8% for the corresponding quarter ended December 31, 2016.

Provisions and contingencies for the quarter ended December 31, 2017 were ₹ 1,351.4 crore as against ₹ 715.8 crore for the quarter ended December 31, 2016 and ₹ 1476.2 crore for the quarter ended September 30, 2017. Profit before tax for the quarter ended December 31, 2017 was up 20.5% to ₹ 7,099.9 crore.

After providing ₹ 2,457.3 crore for taxation, the Bank earned a net profit of ₹ 4,642.6 crore, an increase of 20.1% over the quarter ended December 31, 2016.

Balance Sheet: As of December 31, 2017

Total balance sheet size as of December 31, 2017 was ₹ 949,079 crore as against ₹ 828,020 crore as of December 31, 2016.

Total deposits as of December 31, 2017 were ₹ 699,026 crore, an increase of 10.1% over December 31, 2016. As of December 31, 2017 current account deposits were at ₹ 101,286 and savings account deposits were at ₹ 205,833. CASA deposits grew by 6.7% over December 31, 2016 (which had a higher base attributable to the spurt in deposits following the demonetisation exercise) and 3.9% over September 30, 2017. Time deposits were at ₹ 391,907 crore, an increase of 13.0% over the previous year, resulting in CASA deposits comprising 43.9% of total deposits as on December 31, 2017.

Total advances as of December 31, 2017 were ₹ 631,215 crore, an increase of 27.5% over December 31, 2016, and 4.4% over September 30, 2017. This loan growth was contributed by both segments of the Bank’s loan portfolio with the loan mix between retail:wholesale at 55:45. As per regulatory [Basel 2] segment classification, retail loans grew by 28.7% and wholesale loans grew by 26.4% (as per internal business classification, the growth was 29.2% and 24.3% respectively).


		NEWS RELEASE		HDFC Bank Ltd.
				HDFC Bank House,
				Senapati Bapat Marg,
				Lower Parel,
				Mumbai - 400 013.

Nine Months ended December 31, 2017

For the nine months ended December 31, 2017, the Bank earned a total income of ₹ 69,912.0 crore as against ₹ 60,041.8 crore in the corresponding period of the previous year. Net revenues (net interest income plus other income) for the nine months ended December 31, 2017 were ₹ 40,428.9 crore, as against ₹ 32,934.3 crore for the nine months ended December 31, 2016, an increase of 22.8%. Net profit for the nine months ended December 31, 2017 was ₹ 12,687.5 crore, up by 20.2% over the corresponding nine months ended December 31, 2016.

Capital Adequacy:

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 15.5% as on December 31, 2017 (15.9% as on December 31, 2016) as against a regulatory requirement of 10.25% including Capital Conservation Buffer of 1.25%. Tier-I CAR was at 13.6% as of December 31, 2017 compared to 13.8% as of December 31, 2016.

NETWORK

As of December 31, 2017, the Bank’s distribution network was at 4,734 branches and 12,333 ATMs across 2,672 cities / towns as against 4,555 branches and 12,087 ATMs across 2,597 cities / towns as of December 31, 2016. Of the total branches, 52% are in

semi-urban and rural areas.

ASSET QUALITY

Gross non-performing assets were at 1.29% of gross advances as on December 31, 2017, as against 1.26% as on September 30, 2017 and 1.05% as on December 31, 2016. Net non-performing assets were at 0.4% of net advances as on December 31, 2017.


		NEWS RELEASE		HDFC Bank Ltd.
				HDFC Bank House,
				Senapati Bapat Marg,
				Lower Parel,
				Mumbai - 400 013.

Note:

₹ = Indian Rupees

1 crore = 10 million

All figures and ratios are in accordance with Indian GAAP.

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