HDFC Bank: A board with a candid culture
In less than two decades the bank has not only survived, it has grown larger than its parent according to balance sheet size
Mumbai: HDFC Bank Ltd was one of the 10 banks that were given a licence after the government amended the Banking Regulation Act in 1993. HDFC Bank started operations in January 1995 and has grown to become the largest private sector bank by market capitalization, beating rivals and fellow 1993 survivors ICICI Bank Ltd and Axis Bank Ltd on that parameter. It has clocked around 30% growth in net profit year after year.