Deutsche Bank appointed as Depositary Bank for the Global Depositary Receipt program of HDFC Bank Limited
Deutsche Bank today announced its appointment as Depositary Bank for the Regulation S Global Depositary Receipt (GDR) program of HDFC Bank Limited (HDFC Bank).
HDFC Bank Limited is a leading private sector bank in India incorporated in August 1994. It currently has a nationwide network of 1,412 branches and 2,890 ATMs in 528 cities, across India.*
Akbar Poonawala, Head of Global Equity Services (GES) at Deutsche Bank said, "We are delighted to welcome HDFC Bank as a valued client of Deutsche Bank’s depositary receipts business. We look forward to supporting HDFC Bank in raising its profile amongst the global investor community and to providing the bank and its investors with the highest level of service."
For further information, please call:
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About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,253 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
Deutsche Bank’s Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of debt financings including bonds, medium term note and commercial paper programs, asset backed and mortgage backed securities, collateralized debt obligations, project financings, escrows and syndicated loans. It is also one of the leading depositaries for American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs), and, through a fully integrated network of specialist offices worldwide, provides domestic custody services in more than 30 securities markets.
*Source: HDFC Bank Limited (October 2008)