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HDFC Bank prices 7-year masala bonds at 8.1 per cent
Posted on 16th March 2018
HDFC Bank has priced its seven-year masala bonds at 8.1% to raise $350 million, investment bankers close to the deal told FE. A masala bond is a rupee-denominated bond issued in the overseas market. This is the first masala bond offering by HDFC Bank. The initial price target on the issue was at 8.15% which got compressed by five bps by the time of final pricing. “There were 40 plus investors in the issue consisting of asset managers, private banks, long-only funds etc.

HDFC Bank bans Bitcoin buys citing RBI's warnings: Traders not too worried
Posted on 14th March 2018
Even as HDFC Bank, India's largest bank by market capitalisation, banned its customers from using debit, credit and prepaid cards to purchase cryptocurrencies such as Bitcoin, stakeholders in the crypto universe are not unduly bothered by the move.

In an email sent out to customers on March 13, the bank noted that "the Reserve Bank of India has also cautioned the public regarding the potential economic, operational, legal and security related risks associated in dealing with such currencies".

HDFC Bank has picked arrangers for $2.4 billion share sale: Sources
Posted on 9th March 2018
India’s HDFC Bank Ltd, the world’s most-expensive lender, has appointed arrangers including Bank of America Corp, Morgan Stanley and Credit Suisse Group AG for a Rs 155 billion ($2.38 billion) planned share sale, people with knowledge of the matter said.

The lender has also appointed JPMorgan Chase & Co, Edelweiss Financial Services Ltd, IIFL Holdings Ltd and JM Financial Ltd for the offering, the people said asking not to be identified because the information is private.

HDFC Bank, Citi switch corp lending heads
Posted on 7th March 2018
Mumbai: In an executive switch operation, HDFC Bank and Citi have exchanged their corporate banking heads. While the private lender recently appointed Rahul Shukla, former corporate banking head at Citi, the foreign bank had a couple of months earlier hired HDFC Bank’s corporate banking head, K Balasubramanian.

Incidentally, Balasubramanian was returning to his former employer where he had spent about two decades.

HDFC Bank seeks to raise $2.5 billion via share sale
Posted on 5th March 2018
Mumbai: Private sector lender HDFC Bank Ltd is looking to launch its equity share sale of up to $2.5 billion (around Rs15,000 crore) in a fortnight, while HDFC Asset Management Co. Ltd (HDFC AMC) will be filing its draft initial public offer (IPO) papers, said three people aware of the developments.

In December, HDFC Bank said it is planning to raise up to Rs24,000 crore through a combination of preferential allotment and qualified institutional placement (QIP).

Sebi asks HDFC Bank to probe WhatsApp earnings leak
Posted on 24th February 2018
The Securities and Exchange Board of India (Sebi) on Friday directed HDFC Bank to probe the alleged leak of its June 2017 quarterly earnings on WhatsApp.

The order comes two months after the market regulator passed a similar advisory for Axis Bank. Both cases involved the leak of price-sensitive information over social media groups.

2018 Hyundai Elite i20 automatic variant to launch in May 2018
Posted on 23rd February 2018
2018 Hyundai Elite i20 was launched during the 2018 Auto Expo just this month, and as announced by the South Korean brand during the launch of the facelift, the i20 will now soon be available with an automatic gearbox. It comes both in petrol and diesel variants, but while the 1.2-litre petrol came with a five-speed manual and the diesel with a six-speed manual, a CVT version of the Elite i20 will be launched in May 2018.

Combined m-cap of listed PSBs slips below that of HDFC Bank
Posted on 23rd February 2018
The combined market value of all listed state-owned banks has plunged below that of just one private lender – HDFC Bank – after a massive sell-off in shares of public sector banks in the wake of the biggest banking fraud in India. The combined market capitalisation of the 21 listed public sector banks on Thursday stood at Rs 4.34 lakh crore, Rs 46,726 crore less than the valuation of HDFC Bank at Rs 4.81 lakh crore. Interestingly, these 21 banks account for about 70% of the total advances of all listed banks, according to Capitaline data. HDFC Bank’s share of advances of this set is about 7.5%.

HDFC disburses Rs 28-bn loans to 14k home buyers under urban housing scheme
Posted on 20th February 2018
Mortgage major HDFC has disbursed Rs 28 billion loans to 14,290 home-buyers under the Pradhan Mantri Awas Yojna (Urban) so far, which entails a Central subsidy of Rs 3.02 billion.

The Modi government had launched the housing for all by 2022 in June 2015 and the disbursement is from that period.

10 bps hike! Signalling an uptrend, HDFC Bank raises MCLR
Posted on 8th February 2018
In a definite indication loans are turning costlier, HDFC Bank on Wednesday raised the marginal cost of funds-based lending rate (MCLR) by 10 basis points for some tenures. The one-year MCLR was raised to 8.2% and matches that at ICICI Bank. However, State Bank of India (SBI) charges a lower 7.95%. Axis Bank, which last month became the first large lender to raise its MCLRs since the pricing mechanism came into effect on April 1, 2016, charges 8.3%. At HDFC Bank, the six-month, two-year and three-year MCLRs are now 8%, 8.3% and 8.5%, respectively.

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