Based in India, HDFC Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. The bank’s segments include Treasury, Retail Banking, Wholesale Banking, and Other Banking Business. The bank has over 4,000 branches in approximately 2,500 cities and towns.
HDFC Bank’s goal is to integrate community development, social and environmental efforts in its day to day operations. The bank has a program to provide infrastructure for community schools, and its flagship Sustainable Livelihood Initiative has impacted nearly 4 million households. This initiative aims to support disadvantaged communities through financial inclusiveness, training and capacity building programs. HDFC Bank also has various measures to help economically disadvantaged or geographically remote communities access banking services. The bank aims to drive a positive change through its financing, operating a stringent social and environmental risk management system to assess the potential negative impacts of an investment before credit approval is given. Additionally, HDFC Bank undertakes various measures to minimize its environmental impact and reports its progress to the CDP Climate Change Program. HDFC Bank requires its suppliers to abide to an agreement that prohibits labor violations and environmental degradation.
HDFC Bank has been implicated in numerous fraudulent business investigations. In addition, the bank is not a signatory to the Principles for Responsible Investment in its asset management practices.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 3/31/2017 and may not reflect current opinions or subsequent events