HDFC Bank Limited (NYSE:HDB) Q1 2024 Earnings Conference Call July 17, 2023 7:30 AM ET
Company Participants
Srinivasan Vaidyanathan - Chief Financial Officer
Conference Call Participants
Suresh Ganapathy - Macquarie
Mahrukh Adajania - Nuvama
Kunal Shah - Citi
Saurabh Kumar - JPMorgan
Rahul Jain - Goldman Sachs
Abhishek Murarka - HSBC
Manish Shukla - Axis Capital
Pranav Gundlapalle - Bernstein
Operator
Ladies and gentlemen, good evening, and welcome to the HDFC Bank Limited Q1 FY24 Earnings Conference Call on the financial results presented by the management of HDFC Bank. As a reminder, all participant lines will be in the listen-only mode. There will be an opportunity for you to ask questions after a brief commentary by the management. [Operator Instructions] Please note that this conference is being recorded.
I now hand the conference over to Mr. Srinivasan Vaidyanathan, Chief Financial Officer, HDFC Bank. Thank you, and over to you, sir.
Srinivasan Vaidyanathan
Okay, thank you, Bhavin. Good evening and a warm welcome to all the participants. I want to briefly start and give a minute update on the merger. Effective July 1, as you all know, HDFC Limited has been merged into the bank. Consequently, all subsidiaries of HDFC Limited have become subsidiaries of the bank.
Earlier today, with the support of BSE, NSE, NSDL, CDSL, all HDFC Limited shareholders as on the record date have received shares of HDFC Bank. This concludes the 15 months' journey for the bank and all the regulators involved, and we would like to take this opportunity to thank them for their continuous engagement and support.
HDFC brand built over 47 years will now be proudly owned by the bank. It's a privilege to add on and engage with the 6,000 institutional investors and 7 lakh individual shareholders. HDFC Limited has excelled in nurturing trust in their customer engagement over four decades of operation.
We would like to harness this bond with the home loan customers by leveraging our exhaustive distribution reach and comprehensive digital platform to upsell a complete bouquet of the bank's and subsidiaries' products across pay, save, invest, borrow, insure and trade like the savings account, personal account and so on, including the credit card and SAPs.
Seamless integration to aid the sustained and optimal execution is undertaken, involving merging products and processes expertise, creating learning opportunities by focusing on customer engagement and experience, onboarding 4 million customers with over INR6 trillion portfolio, onboarding 4,150 talented professionals bringing in knowledge and culture.