DSM Capital Partners LLC Boosts Stake in HDFC Bank

DSM Capital Partners LLC has increased its holdings in HDFC Bank Limited (NYSE:HDB) by 31.3% during the fourth quarter. The firm now owns 73,905 shares of the bank's stock, valued at $4.72 million. This expansion comes as HDFC Bank shows signs of recovery, with over 80% of its branches now capable of servicing accounts from the merged entity. The bank has also added over 1,000 branches in the last 12 months, growing its network by 13% year-over-year. Additionally, HDFC Bank has successfully converted 1.9 million customers from HDFC Ltd accounts into deposit-holding customers, further expanding its retail product offerings.

 

Source: MarketBeat