Treasury helps HDFC Bank meet minimum capital requirement

Friday, 2 August 2019 00:00 - - {{hitsCtrl.values.hits}}

The General Treasury of the Government has helped the Housing Development Finance Corporation Bank (HDFC) to meet the regulatory minimum core capital requirement of Rs. 5 billion.

The Bank said it contributed Rs. 250 million from internally generated reserves and Rs. 250 million infusion by the Treasury via non-convertible perpetual debt which qualify as Additional Tier 1 Capital.

The move has been approved by the Monetary Board of the Central Bank. National Housing Development Authority is the biggest shareholder of HDFC Bank with 49.73% stake whilst LOLC Holdings PLC holds 15% stake and Thurstan Investments 14%.