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Investor Presentation


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Tracking the India Growth StoryMeeting Diverse Customers Needs

Unique Franchise in the Indian Banking Sector

Key Business Initiatives

Financial Highlights

Value Proposition

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Contents


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Tracking the India Growth Story

Private Consumption Strong distribution network and retail customer franchise Equally well positioned in urban and rural markets Leading player across retail loan categories

Government Large tax collector for the Government of India

Significant provider of cash management services for publicsector and semi government undertakings

Investment Leading working capital banker to capital goods

manufacturers Term Loans for capex and brown field expansion Project financing to strong and established players Debt syndication team in place

India GDP*

2

*Source CSO GDP at Market Prices at current prices

FY Fiscal year ended March 31

` - Rupees

` . Tn

InvestmentGovernment

Private consumption

0

10

2030

40

50

60

70

80

90

100

FY 2010 FY 2011 FY 2012


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Value Proposition

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Contents


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Wide Range of Products and Customer SegmentsLoan Products:

Auto LoansRetail Business Banking Personal LoansCredit Cards2-Wheeler LoansCommercial Vehicles FinanceConstruction Equipment FinanceHome Loans / MortgagesLoans against SecuritiesTractor and Agri loansEducation LoansGold Loans

Other Products / Services:

Depository AccountsMutual Fund SalesPrivate Banking Insurance Sales (Life, General)NRI ServicesBill Payment ServicesPOS TerminalsDebit CardsGold SalesForeign Exchange ServicesBroking (HDFC Securities Ltd)

Deposit Products:

Savings AccountsCurrent AccountsFixed / Recurring DepositsCorporate Salary Accounts

Commercial Banking:

Working Capital Term LoansBill CollectionForex & DerivativesWholesale DepositsLetters of Credit Guarantees

Transactional Banking:

Cash Management Custodial ServicesClearing Bank ServicesCorrespondent Banking Tax CollectionsBanker to Public Issues

Key Segments:

Large CorporateEmerging CorporatesFinancial InstitutionsGovernment / PSUsSupply Chain (Suppliers and dealers)

AgricultureCommodities

Products / Segments

Foreign ExchangeDebt SecuritiesDerivativesEquities

Other Functions:

Asset Liability Management Statutory Reserve Management

Complete Suite of Products to Meet Diverse Customers Needs

Treasury

WholesaleBanking

RetailBanking

4


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Total Deposits Gross Advances Profit Before Tax

5

Indian GAAP figures. Fiscal Year ended 31 st March; ` - Rupees

Gross advances and Profit Before Taxes classified as per RBI guidelines for segmental reporting (Basel II).

Other Banking Operations Segment (which includes Credit Cards, Third Party Product sales etc.) has been added to the Retail Segment

Business Mix

Customer segments - main drivers of net revenues

Well balanced loan mix between wholesale and retail segments

Higher retail revenues partly offset by higher operating and credit costs

Equally well positioned to grow both segments

` . Bn ` . Bn ` . Bn

0

1,500

3,000

2010 2011 2012

Retail Wholesale

0

1,250

2,500

2010 2011 2012

Retail Wholesale

0

50

100

2010 2011 2012

Retail Wholesale


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Value Proposition

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Contents


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Strong National Network

All branches linked online, real time

Anytime, Anywhere, Anyhow banking

75% branches outside the top 9 cities

Customer base of 26 million

Branch classification

Mar 09 Mar 10 Mar 11 Mar 12

Cities 528 779 996 1399Branches 1412 1,725 1,986 2,544

ATMs 3295 4,232 5,471 8,913

Metro36%

Urban34%

Semi

Urban22%

Rural8%

Mar '09

Metro28%

Urban27%

Semi

Urban36%

Rural9%

Mar '12


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0

1500

3000

2010 2011 2012

Time Savings Current

Total Deposits Core CASA Ratio Average Saving Balance per Account

Healthy proportion of CASA (current & savings) deposits

Floats from multiple transactional banking franchises

Continued growth in new customer acquisitions Provides customer base for ongoing cross-sell through branches

Quality growth rather than mere numbers

` . Bn

Indian GAAP figures. Fiscal year ended 31st March

Core CASA ratio based on daily average balances for the year

` - Rupees

8

` .

High Quality Deposit Franchise

0%

26%

52%

2010 2011 20120

25,000

50,000

2010 2011 2012


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Amongst the lowest deposit costs in the industry Healthy margins relatively stable over rising & declining interest rates

Average yields supported by higher proportion & product mix of retail loans


9

Low Funding Costs Healthy Margins

4.35% 4.25% 4.22%

0.00%

2.50%

5.00%

2010 2011 2012

Net Interest Margin

4.66%4.30%

5.72%

0.00%

3.50%

7.00%

2010 2011 2012

Cost of Deposits


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Indian GAAP figures. Fiscal year ended 31 st March; FY - Fiscal Year ended 31 st March.

* Profit / (loss) on sale and revalua tion (mark to market) of the Government Bond portfolio etc.& includes miscellaneous income

` - Rupees

10

Strong Non-Funded Revenues

Other Income (non-funded revenues) at 30% of Net Revenues in FY 2012

Composition of Other Income in FY 2012: Fees and commissions 82%,

FX and Derivatives Revenues 22%,

Loss on sale of Investments (3%)

Multiple sources of fees &commissions:

Banking charges (Retail & Wholesale)Retail Asset FeesCredit card FeesThird party product salesCash management

Trade FinanceDepositary chargesBullion salesCustody

` . Mn

-2,000

27,000

56,000

2010 2011 2012

P/L on Investments*

FX & Derivatives

Fees & Commission


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The charts above cover only transactions initiated by our own customers and which could have been transacted at the Banks br anches.

Transactions such as (a) SMS alerts sen t to customers, (b) point of sale (POS) transactions, and (c) transactions by holders of other

banks cardholders have therefore been excluded.

% Customer Initiated Transactions by Channel

ATMs

40%

Branches43%

PhoneBanking

14%Internet

2%Mobile

1%

2001

Multiple Delivery ChannelsGreater Choice and Convenience for Our Retail

Customers

Regionalized Processing Units Derive Economies of Scale

Electronic Straight Through Processing Reduce Transaction Costs and Error Rates

Data Warehousing, CRM, Analytics Improve Sales & Credit Efficiencies, Cross-sell

Innovative Technology Application Provide New or Superior Products

2012

11

Leveraging Technology

ATMs30%

Branches18%

PhoneBanking

12%

Internet38%

Mobile2%


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NPA% to Advances Loan Loss Provisions ` . Bn

Amongst the best portfolio quality (wholesale & retail) in the industry

Strong credit culture, policies, processes

Specific provision cover (excluding write-offs, technical or otherwise) at 82% of NPAs,

total provision coverage of over 100%

Restructured loans formed 0.4% of the Bank's gross advances as on March 31, 2012

Indian GAAP figures. Fiscal year ended 31 st March.

Net Non Performing Assets (NPA) = Gross NPA less specific loan loss provisions

` - Rupees

12

Healthy Asset Quality

0

14

28

2010 2011 2012

Gross NPAs Specific Provision General Provision

1.43%

1.05% 1.02%

0.31%0.19% 0.18%

0%

1%

2%

2010 2011 2012Gross NPA % Net NPA %


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0

26,000

52,000

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Net Profit

13.5

17.0

22.1

0

13

25

2010 2011 2012

ROA

` . Mn

EPS

1.53% 1.58%1.77%

0%

1%

2%

2010 2011 2012


* 10 year Compounded Annual Growth Rate

EPS for the year 2010 & 2011 has been recomputed to give effect of the share split from ` 10 to ` 2

113

Consistent Financial Performance

` .


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Value Proposition

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Contents


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Leading provider of electronic banking services for supply chain management (SCM)

Structured cash management-cum-vendor/distributor finance

CorporateDealers

DistributorsOEM Customers

Vendors

` . Bn Wholesale Advances

Indian GAAP figures. Fiscal year ended 31st March; Total wholesale advances are as per the RBI guide lines for segmental reporting (Basel II).

Others includes Capital markets and commodity finance, and other consumer loans over `. 50 million.

FIG Financial Institutions and Government group, CV/CE Large ticket commercial vehicle and construction equipment loan ` - Rupees

115

Accessing Multiple Segments

Leveraging relationships with large & emerging

corporates for multiple revenue streams

Focus on house banking

Balanced mix between working capital financing,term loans and transactional banking

Well diversified loan portfolio across major industry segments

0

500

1,000

2010 2011 2012

Others

CV / CE

Business Banking

FIG

Emerging Corporate

Corporate


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0

850

1,700

2010 2011 2012

Primary Settlements Accounts(Stock Exchanges)

0

14,000

28,000

2010 2011 2012

Gross Cash Management Volumes * Nos.

Clear market leader : cash settlements on stock & commodities exchanges

Leading provider of cash management solutions Large corporates and SME

Financial Institutions

Government (including tax collections)For the Fiscal year ended 31st March,

* Gross Cash Management Volumes adjusted for collections on account of IPOs

` - Rupees

` . Bn

116

Focus on Transactional Banking Opportunities


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0

6,000

12,000

2010 2011 2012

FX & Derivatives Revenues

Revenues Largely customer driven, low reliance on trading revenue

Treasury advisory services Plain vanilla FX offerings to retail and business banking segments

FX and derivatives product sales to corporate and institutional customers

Indian GAAP figures. Fiscal year ended 31st March; ` - Rupees

Corp Corporate, ECG Emerging Corporate Group, BB Business Banking, FIG Financial Institutions & Government Group;

Others includes Capital Markets and Commodity Finance

` . Mn

117

Customer Focused Treasury Products

Corp18%

ECG10%

Retail54%

BB6%

FIG4%

Others8%

Customer Revenues Mix


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Well diversified product mix

Balancing volumes and market

share with margins and risk

Home Loans* (Mortgage) offering

origination (loan sanctions) nowaround ` 8 Bn per month

Loan losses within product pricing

parameters

` . Bn

Retail loans are net of loans sold and include loan assignments. Retail loans are classified as per RBI guidelines for segmental reporting (Basel II).

In arrangement with HDFC Ltd., Others includes Tractor Loans, Loans to Self Help Group, Retail overdrafts, Loans against Se curities, etc

Indian GAAP figures. Fiscal year ended 31st March; ` - Rupees

118

Retail Loans Profitable Growth

AutoLoans

BusinessBanking

CommercialVehicles

PersonalLoans

HomeLoans

Others

Credit CardsGold Loans

Two Wheelers

0

600

1,200

2010 2011 2012


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0

35

70

2010 2011 2012

Market leader in credit card (5.6 mn cards as of Mar 12)

Around 70% of new credit cards issued to internal customers

Loss rates at cyclical lows in FY2012, well within the range priced in

Merchant acquiring over 180,000 POS terminals, 44% growth in thru-puts

Number of Cards Credit Cards Receivables Acquiring Thruputs

Indian GAAP figures. Fiscal year ended 31 st March. ` - Rupees

FY 2012 Fiscal year ended 31 st March 2012

POS Point of Sale

` .Bn ` .Bn

Mn

119

Cards Achieving Scale

0

11

22

2010 2011 2012

Debit cards Credit cards

0

250

500

2010 2011 2012


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0

13

26

2010 2011 2012

Insurance Premium

Life General

0

600

1,200

2010 2011 2012

Mutual Fund Sales

Steady performance in a challenging, volatile environment

New regulation and change in product mix adversely impacted fees

Relationship managers for private banking and high net worth segments

Branch sales process to drive distribution of third party products


` - Rupees

20

Distribution of Third Party Products

` .Bn ` .Bn


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Banking on Rural India

LocalGovernment

Self HelpGroups

FarmersIntermediaries

(Arhatiyas, traders)

FoodProcessors

Individuals

Pre and Post Harvest Credit

Tractor Loans

Kisan Cards

Small Working Capital Loan

Regular / No frills savings accounts

Term / Micro deposits

Life and General Insurance

Payment ecosystem

Banking Services for the rural eco-systemthrough customised loan and deposit

products whilst maintaining credit standards

Other banking products

Liability Products

Sustainable Livelihood Banking

Loan Products


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HDFC Securities Limited

Amongst the top retail equity brokerages in the country Over 180 branches and 1.4 million customers

Revenues from brokerage as well as distribution of financial products

FY 2012 - Net Profit : ` 541 million

HDB Financial Services

NBFC catering to certain customer segments not served by the Bank

Inherently lower cost structure

Network size of 180 branches

FY 2012 - Loan book : ` 39,641 million, Net Profit : ` 511 million

22

Subsidiary Companies

` - Rupees

FY 2012 Fiscal year ended March 31, 2012


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Value Proposition

23

Contents


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Indian GAAP figures ( ` Mn) , ` - Rupees;

*On sale and revaluation (mark to market) of investments & includes miscellaneous income

24

Key Financials

` . In million

Quarter Ended

Dec2012

Quarter Ended

Dec2011

Change

NineMonthsEndedDec 12

NineMonthsEndedDec 11

Change

Year Ended

Mar 2012

Net Interest Income 37,988 31,160 21.9% 110,146 89,084 23.6% 122,968

Fees & Commissions 14,019 11,276 24.3% 37,544 30,382 23.6% 42,755

FX & Derivatives 2,580 3,656 -29.4% 8,087 8,137 -0.6% 11,388

Profit / (loss) on Investments* 1,390 (732) 1,104 (1,001) (1,706)

Net Revenues 55,977 45,360 23.4% 156,881 126,602 23.9% 175,405

Operating Costs 25,741 21,580 19.3% 75,123 61,230 22.7% 85,901

Provisions & Contingencies 3,072 3,292 -6.7% 10,874 11,389 -4.5% 14,372

Tax 8,573 6,191 38.5% 22,520 16,843 33.7% 23,461

Profit After Tax 18,591 14,297 30.0% 48,364 37,140 30.2% 51,671


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Net profit up by 30.0% to ` 18.6 Bn

Gross advances increased by 24.2% to ` 2,432 Bn

Deposits up by 22.2% to ` 2,841 Bn

CASA ratio at 45.4%

Net Interest Margin at 4.1%

Core Cost-to-income ratio at 47.1%

Gross NPA / gross advances at 1.0%

Net NPA / net advances at 0.2%

Capital adequacy ratio (CAR) - total 17.0% of which tier I at 10.9%

25

Indian GAAP figures (Bn =Billion); ` - Rupees

Net NPA = Gross NPA less specific loan loss provisions

Comparisons are with respect to corresponding figures for the quarter ended December 31, 2011

Financial Highlights - Quarter ended December 2012


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Tracking the India Growth Story

Meeting Diverse Customers Needs


Key Business InitiativesFinancial Highlights

Value Proposition

26

Contents


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27

Value Proposition Healthy Growth, Low Risk

Healthy balance sheet andrevenue growth

Leveraging organic andinorganic growth

opportunities

Proven ability to generateShareholder Value

Branch Sales Process,Data Mining & CRM,geared for Cross sell

Strong Risk management,

focus on asset quality

Disciplined margin andcapital management with a

focus on ROA/ROE

Nationwide network, withexpanding semi urban and

rural footprint

Growing economy /banking industry,

Gaining market share

Leading (Top 3) player across multiple products

Wide Product range and

multiple customer segment


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Certain statements are included in this release which contain words or phrases, such as will, aim, believe, expect, will continue, anticipate, estimate, intend, plan, future, objective, project, should, and similar expressions or variations of these expressions, that are forward -looking statements . Actual results may differ materially from thosesuggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations withrespect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for various banking services, future levels of our non-performing loans, our growth and expansion, the adequacy of our allowance for credit and investment losses, technological changes, volatility in investment income, our ability to market new

products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions weare or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changesin banking regulations and other regulatory changes in India and other jurisdictions on us, our ability to roll over our short-term funding sources and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result,actual future gains, losses or impact on net income could materially differ from those that have been estimated. Our forward looking statements speak only as of the date on which they are made and we do not undertake any obligation, and we donot intend, to update or revise any forward looking statements to reflect events or circumstances after the date in thestatement, even if our expectations or any related events or circumstances change. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to: general economic and political conditions, instability or uncertainty in India and other countrieswhich have an impact on our business activities or investments caused by any factor including the global financial crisis and

problems in the Eurozone countries, terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks

by the United States, a United States-led coalition or any other country, tensions between India and Pakistan related to theKashmir region, military armament or social unrest in any part of India, the monetary and interest rate policies of thegovernment of India, natural calamities, inflation, deflation, unanticipated turbulence in interest rates, foreign exchangerates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in Indianand foreign laws and regulations, including tax, accounting and banking regulations, changes in competition and the pricing environment in India, and regional or general changes in asset valuations.