7 Best Emerging Markets Stocks To Buy Now

2. HDFC Bank Limited (NYSE:HDB) 

Number of Hedge Fund Holders: 41

Country: India

HDFC Bank Limited (NYSE:HDB) is one of India’s leading private sector banks that provides a wide range of financial services to its customers. The bank operates in various segments, including retail banking, wholesale banking, and treasury operations. HDFC Bank Limited (NYSE:HDB) has a strong presence in the Indian banking industry and has established itself as a trusted financial institution.

On October 30, Reuters reported that HDB Financial Services, the non-banking lending unit of HDFC Bank Limited (NYSE:HDB) has filed for an initial public offering (IPO) of up to $1.49 billion. HDB Financial Services generates revenue by providing a range of financial products and services to its clients, including secured and unsecured loans, consumer loans, business loans, and microloans. With over 1,680 branches across India, the company has built a vast network to cater to its diverse customer base. As of September 30, HDB’s gross loan book stood at $11.67 billion, reflecting a growth of nearly 21% in just two years.

This impressive growth trajectory is a testament to the company’s ability to tap into the vast and growing demand for financial services in India. The company’s client base is diverse, ranging from individuals seeking consumer loans to businesses requiring working capital. To further drive growth, HDB Financial Services aims to utilize the IPO proceeds to enhance its capital requirements, including onward lending and regulatory compliance. This move will enable the company to expand its loan book, increase its market share, and capitalize on the growing demand for financial services in India.