HDFC Bank : Clarification submitted to stock exchanges
October 14, 2020 at 03:59 pm EDT
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CIN: L65920MH1994PLC080618
HDFC Bank Limited,
Email: shareholder.grievances@hdfcbank.com
Zenith House,
Website: www.hdfcbank.com
Opp. Race Course Gate no. 5 & 6,
Keshavrao Khadye Marg,
Mahalaxmi, Mumbai- 400034
Tel.: 022 - 3976 0001 / 0012
September 21, 2020
BSE Limited
National Stock Exchange of India Limited
Dept of Corporate Services
The Listing Department
Phiroze Jeejeebhoy Towers,
Exchange Plaza
Dalal Street, Fort,
Bandra Kurla Complex,
Mumbai 400 001
Mumbai 400 051
Scrip Code : 500180
Scrip Symbol : HDFCBANK
Dear Sirs,
Sub: Clarification
This refers to the various media reports related to filing of class action claims by certain US law firm(s) against the Bank.
In this regard, we wish to inform you that the Bank is aware of a complaint that was recently filed against the Bank and its three employees in the United States. The lawsuit, which was filed by a single small security holder who seeks to represent a class of the Bank's security holders, is based on allegations that the security holder claims caused a temporary decline in the Bank's ADR stock price in July 2020. The Bank denies the allegations and intends to defend itself vigorously in the lawsuit. The Bank expects its response to the lawsuit to be due in early 2021.
Since the lawsuit is at a premature stage, there is no matter at this point of time which requires disclosure as per Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
We trust this clarifies.
For HDFC Bank Limited
Santosh Haldankar
Sr. Vice President- Legal & Company Secretary
Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
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HDFC Bank Limited published this content on 21 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2020 19:59:00 UTC
HDFC Bank Limited is one of the largest Indian banking groups. Income breaks down by activity as follows:
- retail banking (46.9%);
- corporate banking (28.7%);
- market banking (12.4%);
- other (12%).
At the end of March 2019, the group had INR 9,225 billion of current deposits and INR 8,692.2 billion of current credits.
Products and services are marketed through a network of 5,000 branches located in India.