Investor Presentation

December 2013

Contents

Well positioned across GDP spectrum Meeting Diverse Customers Needs Unique Franchise in the Indian Banking Sector Key Business Initiatives

Financial Highlights
Value Proposition

Well positioned across GDP spectrum

`. Tn
100 90 80 70 60 50 40 30 20 10 0

India GDP*

Private Consumption Equally well positioned in urban and rural markets Leading player across retail loan categories Focus on working capital finance and trade services

Government Large tax collector for the Government of India Significant provider of cash management services for public sector and semi government undertakings
FY 2011 FY 2012 FY 2013

Private consumption Government Investment

Investment Term Loans for capex and brown field expansion Debt syndication team in place Project financing to strong and established players Leading working capital banker to capital goods manufacturers

*Source CSO GDP at Market Prices at current prices

FY Fiscal year ended March 31 ` - Rupees
2

Contents

Well positioned across GDP spectrum Meeting Diverse Customers Needs Unique Franchise in the Indian Banking Sector Key Business Initiatives

Financial Highlights
Value Proposition

Wide Range of Products and Customer Segments

Loan Products: Auto Loans Personal Loans Home Loans / Mortgages Commercial Vehicles Finance Retail Business Banking Credit Cards Loans against Gold 2-Wheeler Loans Construction Equipment Finance Loans against Securities Agri and Tractor loans Education Loans Commercial Banking: Deposit Products: Savings Accounts Current Accounts Fixed / Recurring Deposits Corporate Salary Accounts Loan products contd Other Products / Services: Depository Accounts Mutual Fund Sales Private Banking Insurance Sales (Life, General) NRI Services Bill Payment Services POS Terminals Debit Cards Gold Sales Foreign Exchange Services Broking (HDFC Securities Ltd)

Retail Banking

Self Help Group Loans Joint Liability Group Loans Kisan Gold Card

Transactional Banking: Cash Management Custodial Services Clearing Bank Services Correspondent Banking Tax Collections Banker to Public Issues

Investment Banking: Debt Capital Markets Equity Capital Markets Project Finance M&A and Advisory

Key Segments: Large Corporate Emerging Corporates Financial Institutions Government / PSUs Supply Chain (Suppliers and Dealers) Agriculture Commodities

Wholesale Banking

Working Capital Term Loans Bill Collection Forex & Derivatives Wholesale Deposits Letters of Credit Guarantees

Products / Segments:

Other Functions: Asset Liability Management Statutory Reserve Management

Treasury

Foreign Exchange Debt Securities Derivatives Equities

Complete Suite of Products to Meet Diverse Customers Needs

Business Mix
Total Deposits
`. Bn 3,200 `. Bn 2,600

Gross Advances
`. Bn 120

Profit Before Tax

1,600

1,300

60

0 2011 2012 2013

0 2011 2012 2013

0 2011 2012 2013

Retail

Wholesale

Retail

Wholesale

Retail

Wholesale

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

Indian GAAP figures. Fiscal Year ended 31st 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 5

Contents

Well positioned across GDP spectrum Meeting Diverse Customers Needs Unique Franchise in the Indian Banking Sector Key Business Initiatives

Financial Highlights
Value Proposition

Strong National Network

Mar 10 Mar 11 Mar 12 Mar 13

Branches ATMs Cities / Towns

1,725 1,986 2,544 3,062 4,232 5,471 8,913 10,743 779 996 1,399 1,845 Branch classification

Mar 10
Semi Urban 26% Rural 8%

Mar '13
Semi Urban 36%

Urban 31%

Rural 17%

Metro 35%

Urban 24%

Metro 24%

All branches linked online, real time

Bank added 193 micro branches in FY 2013 Customer base of over 28 million, net addition of over 2 million customers in FY 2013
FY Fiscal year ended March 31

High Quality Deposit Franchise

Total Deposits
`. Bn 3,200 52%

Core CASA Ratio

Average Saving Balance per Account

`. 50,000

1,600

26%

25,000

2011 2012 2013

0% 2011 2012 2013

0 2011 2012 2013

Time

Savings

Current

Savings

Current

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

Indian GAAP figures. Fiscal year ended 31st March Core CASA ratio based on daily average balances for the year

` - Rupees
8

Low Funding Costs Healthy Margins

Cost of Deposits
7.00%

Net Interest Margin

6.13%
6.00%

5.72% 4.30%
3.50%

4.44%

4.43%

4.47%

3.00%

0.00% 2011 2012 2013

0.00% 2011 2012 2013

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

Indian GAAP figures. Fiscal year ended 31st March

Strong Non-Funded Revenues

`. Mn 78,000

Multiple sources of fees & commissions:

Fees & Commission 38,000 Fx & Derivatives Recoveries* P/L on Investments

-2,000

2011

2012

2013

Banking charges (Retail & Wholesale) Retail Asset Fees Credit card Fees Third party product sales Cash management Trade Finance Depositary charges Bullion sales Custody

Other Income (non-funded revenues) at 30% of Net Revenues in FY 2013 Composition of Other Income in FY 2013: Fees and commission 75%, FX and Derivatives Revenues 15%, Recoveries from written-off accounts 8%, Profit / Loss on sale of Investments 2%

Indian GAAP figures. Fiscal year ended 31 st March; FY - Fiscal Year ended 31st March. * Recoveries includes miscellaneous income

` - Rupees
10

Leveraging Technology
Multiple Delivery Channels
2001
ATM 40% Branches 18% Phone Banking 8%

Greater Choice and Convenience for Our Retail Customers

2013
ATM 30%

Branches 43%

Phone Banking 14%

Internet & Mobile 3%

Internet & Mobile 44%

% Customer Initiated Transactions by Channel

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

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

Transactions such as (a) SMS alerts sent to customers, (b) point of sale (POS) transactions, and (c) transactions by holders of other
banks cardholders have therefore been excluded. 11

Healthy Asset Quality

NPA% to Advances
`. Bn
2% 28

Loan Loss Provisions

1.05%
1%

1.02%

0.97%

14

0.19%
0%

0.18%

0.20%
0

2011

2012

2013

2011

2012

2013

Gross NPA %

Net NPA %

Gross NPAs

Specific Provision

General Provision

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 80% of NPAs Restructured loans formed 0.2% of the Bank's gross advances as on March 31, 2013 Floating provisions at `1,835 crore as on March 31, 2013

Indian GAAP figures. Fiscal year ended 31 st March. Net Non Performing Assets (NPA) = Gross NPA less specific loan loss provisions

` - Rupees
12

Consistent Financial Performance

`. Mn

70,000

Net Profit

35,000

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

ROA
2% 1.58% 1.77% 1.90%

`. 30

EPS
28.5 22.1 17.0

1%

15

0% 2011 2012 2013

0 2011 2012 2013

Indian GAAP figures. Fiscal year ended 31st March * 10 year Compounded Annual Growth Rate EPS for the year 2011 has been recomputed to give effect of the share split from face value of ` 10 to face value of ` 2 13 1

Contents

Well positioned across GDP spectrum Meeting Diverse Customers Needs Unique Franchise in the Indian Banking Sector Key Business Initiatives

Financial Highlights
Value Proposition

14

Retail Loans Profitable Growth

`. Bn

1,400
Two wheelers Gold Loans
Kisan Gold Card

Others

Well diversified product mix Balancing volumes and market

Credit Card Home Loans Personal Loans

share with margins and risk

Home Loans* (Mortgage) offering origination (loan sanctions) now around ` 10 Bn per month

700
Commercial Vehicles

Business Banking

Loan losses within product pricing

parameters

Auto Loans

0 2011 2012 2013

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 Securities, etc Indian GAAP figures. Fiscal year ended 31st March; ` - Rupees 15 1

Wholesale Banking - Accessing Multiple Segments

`. Bn 1,200
FIG CV / CE Others Business Banking

Wholesale Advances

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 Investment banking capability built across various industry segments

600
Emerging Corporate Corporate

0 2011 2012 2013

Dealers Vendors Corporate Distributors OEM Customers

Leading provider of electronic banking services for supply chain management (SCM)
Structured cash management-cum-vendor/distributor finance

Indian GAAP figures. Fiscal year ended 31st March; Total wholesale advances are as per the RBI guidelines 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
16 1

Focus on Transactional Banking Opportunities

`. Bn 28,000

Gross Cash Management Volumes *

Nos.

Primary Settlements Accounts (Stock Exchanges)

1,700

14,000

850

0 2011 2012 2013

2011

2012

2013

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
17 1

Customer Focused Treasury Products

`. Mn 12,000
FIG 3% BB 6%

FX & Derivatives Revenues

Customer Revenues Mix

Others 9%
Corp 17%

6,000

ECG 10%

0 2011 2012 2013

Retail 55%

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 18 1

Cards Achieving Scale

Number of Cards
Mn 24 `.Bn 120

Credit Cards Receivables

`.Bn 800

Acquiring Thruputs

12

60

400

0 2011 2012 2013

0 2011 2012 2013

0 2011 2012 2013

Debit cards

Credit cards

Market leader in credit cards Around 75% of new credit cards issued to internal customers Loss rates well within the range priced in Merchant acquiring over 240,000 POS terminals, 53% growth in thru-puts in FY 2013

Indian GAAP figures. Fiscal year ended 31 st March. ` - Rupees FY 2013 Fiscal year ended 31st March 2013 POS Point of Sale 19 1

Banking on Rural India

Banking Services for the rural eco-system through customised loan and deposit products whilst maintaining credit standards
Local Government
Loan Products
Pre and Post Harvest Credit Tractor Loans Kisan Cards

Individuals

Small Working Capital Loan

Sustainable Livelihood Banking

Liability Products Regular / Basic Savings Bank Deposit Account

Food Processors

Self Help Groups

Term / Micro deposits Other banking products Life and General Insurance Payment ecosystem

Intermediaries (Arhatiyas, traders)

Farmers

Rural banking products offered through traditional and micro branches in the deeper geography of the country

Micro branches are primarily two member branches to expand and deepen the penetration in the rural market including in unbanked area.

20

Subsidiary Companies
HDB Financial Services Limited NBFC catering to certain customer segments not served by the Bank Main Products: Retail secured and unsecured loans, Insurance services and Collection services Network of 230 branches FY 2013 - Loan book : ` 82,037 million, Net Profit : ` 1,024 million

HDFC Securities Limited

Amongst the leading equity brokerages in the country Over 190 branches and 1.6 million customers Revenues from brokerage as well as distribution of financial products

FY 2013 - Net Profit : ` 668 million

` - Rupees
FY 2013 Fiscal year ended March 31, 2013

21

Contents

Well positioned across GDP spectrum Meeting Diverse Customers Needs Unique Franchise in the Indian Banking Sector Key Business Initiatives

Financial Highlights
Value Proposition

22

Key Financials
`. In million

Quarter Ended Dec 2013

Net Interest Income Fees & Commissions FX & Derivatives Profit / (loss) on Investments Recoveries Net Revenues Operating Costs Provisions & Contingencies Profit Before Tax Tax Profit After Tax
Indian GAAP figures (` Mn) , ` - Rupees.

Quarter Ended Dec 2012

39,816 14,135 2,581 1,358 1,204 59,094 27,880 4,050 27,164 8,573 18,591

Change 16.4% 11.4% 29.1% -62.5% 57.1% 14.8% 3.8% -4.0% 28.8% 36.9% 25.1%

Year Ended Mar 13

158,111 51,669 10,101 1,613 5,143 226,637 112,361 16,770 97,506 30,243 67,263

Year Ended Mar 12

128,846 43,121 11,388 (1,959) 5,286 186,682 92,776 18,774 75,132 23,461 51,671

Change 22.7% 19.8% -11.3% -182.3% -2.7% 21.4% 21.1% -10.7% 29.8% 28.9% 30.2%

46,348 15,750 3,332 509 1,891 67,830 28,951 3,888 34,991 11,734 23,257

23

Financial Highlights - Quarter ended December 2013

Net profit up by 25.1% to ` 23.3 Bn US$ 3.4 Bn deposits raised under RBI window for attracting FCNR* deposits Deposits up by 22.9% to ` 3,492 Bn Gross advances increased by 22.8% to ` 2,987 Bn Net Interest Margin at 4.2% Cost-to-income ratio at 42.7% Gross NPA / gross advances at 1.0% Net NPA / net advances at 0.3% Capital adequacy ratio (CAR)** - total 14.7% of which tier I at 9.9%
(Including year to date profits CAR would be - total 16.2%; tier I 11.5%)

Indian GAAP figures (Bn =Billion); ` - Rupees; Net NPA = Gross NPA less specific loan loss provisions; * Foreign Currency Non-Resident deposits ** Capital adequacy ratio computed as per RBIs Basel III regulations and excludes the profits for nine months ended Decembe r 31, 2013 Comparisons are with respect to corresponding figures for the quarter ended December 31, 2012 24

Contents

Well positioned across GDP spectrum Meeting Diverse Customers Needs

Unique Franchise in the Indian Banking Sector

Key Business Initiatives Financial Highlights Value Proposition

25

Value Proposition Healthy Growth, Low Risk

Growing economy / banking industry, Gaining market share Healthy balance sheet and revenue growth Disciplined margin and capital management with a focus on ROA/ROE Nationwide network, with expanding semi urban and rural footprint Leading (Top 3) player across multiple products Wide Product range and multiple customer segment Branch Sales Process, Data Mining & CRM, geared for Cross sell Leveraging organic and inorganic growth opportunities

Strong Risk management, focus on asset quality

Proven ability to generate Shareholder Value

26

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 those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect 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 we are or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changes in banking regulations and other regulatory changes in India and other jurisdictions on us, our ability to roll over our shortterm 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 do not intend, to update or revise any forward looking statements to reflect events or circumstances after the date in the statement, 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 countries which 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 the Kashmir region, military armament or social unrest in any part of India, the monetary and interest rate policies of the government of India, natural calamities, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in Indian and 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.