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Tuesday May 21, 2024
Wednesday, 31 July 2013 00:00 - - {{hitsCtrl.values.hits}}
Bridging the mismatches in its loan portfolio being the main objective, HDFC plans to issue these debentures with key features such as an asset-backed security, seniority and rating attached to it, making this proposed debenture highly secured and attractive for its potential investors.
With more than 52 years of banking experience, People’s Bank initiated investment banking activities in 2011 with an objective of expanding its wings to investment banking activities to harness the opportunities arising from the fast development of post war economy and to cater to its corporate client base.
The Investment Banking Unit (IBU) has progressively consolidated its debt structuring activities and has raised more than Rs. 8 billion in 2012 via securitisations and commercial papers which yielded a significant fee income to the bank. The IBU has gained a significant market share in this space and has concluded a number of corporate debt issues for a significant number of corporates.
HDFC Bank, a BBB (lka)/Stable by Fitch rating and a BBB (Stable) by RAM Rating was incorporated as a licensed specialised bank under the provisions of Housing Development Finance Corporation Act No. 07 of 1997, amended by Act No. 15 of 2003 and No. 45 of 2011, and also a listed entity in Colombo Stock Exchange, is in the housing finance business since 1984, by pioneering the housing finance market in Sri Lanka, making the ‘housing dream’ a reality for common citizens.
With more than Rs. 17 billion housing loans in its portfolio and a balance sheet with an over Rs. 23.5 billion asset base, HDFC Bank has its footprint all over the country with its branch network of 32,360 ATMs and 120 mobile bankers as customer access points.
