A Brief Introduction to HDFC Bank, SWIFT Code HDFCINBBXXX

We have already introduced the usage of SWIFT Codes and where to find your code. Then we will recognize some specific bank SWIFT Codes and this post will introduce HDFC Bank,  whose SWIFT Code is HDFCINBBXXX.

First of all, to get the most detailed SWIFT Codes, you can visit XTransfer SWIFT Codes query platform.

 

HDFC Bank is one of the largest private sector banks in India. It was established in August 1994 and headquartered in Mumbai. The bank has risen rapidly in just a few decades to become a major force in India's financial sector and has earned wide recognition in the international market.

 

On August 30, 1994, HDFC Bank was launched by the Housing Development Finance Corporation of India (HDFC), making it the first private sector bank in India to receive in-principle approval from the Reserve Bank of India (RBI). On October 10 of the same year, the bank received a certificate of commercial operation from the RBI and formally commenced its banking operations.On January 16, 1995, HDFC Bank opened its first branch in Mumbai and started offering banking services to the public.

In 1996, HDFC Bank successfully joined a consortium of banks comprising of more than 50 corporates and set up a state-of-the-art trading room and started processing all types of transactions in the Indian financial markets. In 1997, HDFC Bank declared its first dividend.

 

• Expansion and Innovation

In July 2001, HDFC Bank was successfully listed on the New York Stock Exchange (NYSE), which further expanded its international reach and attracted a large number of overseas investors. In July 2001, HDFC Bank was successfully listed on the New York Stock Exchange (NYSE).

In 2008, HDFC Bank completed the acquisition of Centurion Bank of Punjab (CBoP), which was one of the largest acquisitions in the Indian financial sector at that time, further expanding the bank's branch network and business coverage. In the same year, HDFC Bank launched telephone banking services and debit cards in partnership with Visa International to meet the growing payment needs of its customers.

 

• Digital Transformation and Globalization

Into the 2010s, HDFC Bank accelerated its nationwide business expansion and plans to add 250 new branches in the next two years to consolidate its leading position in the Indian banking industry In 2015, HDFC Bank further drove digital payment innovation by launching PayZapp, India's first one-click mobile payment solution, which provides users with a more convenient online payment experience. 

As HDFC Bank entered the 2020s, it continued to consolidate its position as an industry leader while facing new challenges and opportunities. in 2021, HDFC Bank acquired a 9.99% stake in Ferbine, an entity of the Tata Group, further expanding its footprint in the retail payment systems space. in April 2022, the bank announced its merger with its parent company, HDFC Ltd. The deal was dubbed as the largest bank merger and acquisition in India's history.2023 In July 2023, the merger of HDFC Bank with HDFC Ltd. was officially finalized, making it one of the fourth largest banks in the world by market capitalization and significantly enhancing its competitiveness in the international market.

 

 

HDFC Bank, one of the largest private sector banks in India, holds a significant position in several financial sectors, especially in credit cards, insurance, and asset management with significant market share.
In the credit card market, HDFC Bank has a market share of 21% as of December 2024, making it the leader in the Indian credit card market. This figure demonstrates HDFC Bank's competitiveness in the credit card business and that the bank leads the Indian market in terms of credit card user base and transaction volume.

In the overall banking market, there is no clear official data on HDFC Bank's consolidated market share, but its position as one of the largest private sector banks in India gives it a clear advantage in terms of asset size, market capitalization and number of customers. In terms of its leading position in the credit card market and its significant role in lending and deposits, HDFC Bank holds a key share of the overall Indian banking market and excels in retail banking.

In addition to banking, HDFC Bank's subsidiaries have significant market share in several financial services segments.HDFC Life Insurance has a leading position in the Indian life insurance market with a market share of 16.1% of individual weighted premiums in Q4 FY2024.HDFC Bank's subsidiaries also have significant market share in several financial services segments.HDFC Bank's subsidiaries also have significant market share in several financial services segments.

Overall, HDFC Bank not only holds a significant position in the traditional banking segment in India, but also maintains significant market share in financial sub-sectors such as credit cards, insurance and asset management. With its strong customer base, extensive branch network and ongoing digital transformation, HDFC Bank continues to play a dominant role in the Indian financial market and consolidate its industry leadership position.

Althoug HDFC Bank dominates the domestic market, it has a relatively small international market share. 
By March 2025, its market capitalization had declined to $153.84 billion, bringing it down to the 100th position globally. Nonetheless, the bank remains one of the highly regarded financial institutions globally.

HDFC Bank's international revenues, which account for 15% of its total revenues, are relatively small but have shown a steady growth in recent years. Its international expansion has been focused on the Non-Resident Indian (NRI) market, where the bank offers wealth management, remittances, investment solutions and cross-border financial services through representative offices in London, Dubai and Singapore.

Overall, while HDFC Bank's international market presence is still limited, its NRI market strength, global network expansion and strategic international footprint are driving its international presence. In the future, HDFC Bank is expected to enhance its competitiveness in the international financial market through further digital transformation and global cooperation.