HDB » Topics » 29. Subsidiaries

This excerpt taken from the HDB 20-F filed Sep 30, 2009.

29. Subsidiaries

HDB Financial Services Limited (HDBFSL) is a non-banking financial company and a subsidiary of the Bank. As at March 31, 2009, the stake-holding of the Bank in HDBFSL was 95.43%. The financial statements of HDBFSL are consolidated.

HDFC Securities Ltd. (HSL) offers trading facilities in a range of equity, fixed income and derivative products to its clients. As at March 31, 2009 the Bank holds 64.60% effective equity interest. The financial statements of HSL are consolidated.

Atlas Documentary Facilitators Company Private Ltd (“ADFC”) specializes in back-office processing. The Bank regularly transacts business with ADFC. As on March 31, 2009, HDFC Bank Ltd. and Subsidiaries hold 46.54% of the equity interests of ADFC. Members of the Bank management team as well as other employees also hold a stake in the equity share capital. The financial statements of ADFC are consolidated.

HBL Global Private Ltd (“HBL”) is a subsidiary of ADFC which holds 98.0% of its equity. HBL provides direct sales support for certain products of the Bank. The financial statements of HBL are consolidated.

This excerpt taken from the HDB 20-F filed Sep 29, 2008.

29. Subsidiaries

During the year ended March 31, 2008, the Bank invested in 100 million equity shares of HDB Financial Services Limited (HDBFSL) of Rs. 10.0 each at par aggregating to Rs. 1,000 million. HDBFSL is a non-banking financial company and a subsidiary of the Bank. It is yet to commence full-fledged operations. As at March 31, 2008, the stake-holding of the Bank in HDBFSL was 95.3%. The financial statements of HDBFSL are consolidated.

HDFC Securities Ltd. (HSL) offers trading facilities in a range of equity, fixed income and derivative products to its clients. As at March 31, 2008 the Bank holds 64.9% effective equity interest. The financial statements of HSL are consolidated.

Atlas Documentary Facilitators Company Private Ltd (“ADFC”) specializes in back-office processing. The Bank regularly transacts business with ADFC. As on March 31, 2008, HDFC Bank Ltd. and Subsidiaries hold 46.5% effective equity interest. Members of the Bank management team as well as other employees also hold a stake in the equity share capital. The financial statements of ADFC are consolidated.

HBL Global Private Ltd (“HBL”) is a subsidiary of ADFC which holds 98.0% of its equity. HBL provides direct sales support for certain of products of the Bank. The financial statements of HBL are consolidated.

 

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20-F
Sep 30, 2009
20-F
Sep 29, 2008
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