NE BUSINESS BUREAU
GANDHINAGAR, MAY 14
In a major push to deepen its international financial services footprint, HDFC Bank Group on Thursday unveiled its new integrated office premises at Gujarat’s fast-emerging global financial hub — GIFT City — as the banking conglomerate announced that its International Banking Unit (IBU) had crossed a balance sheet size of over USD 5.5 billion in FY 2025-26.
The launch marks a significant milestone in the Group’s rapid expansion journey within India’s International Financial Services Centre ecosystem, where it has steadily strengthened capabilities across banking, insurance, wealth management, capital markets and cross-border financial services.
- HDFC Bank Group inaugurates expanded integrated office at GIFT City’s Flex One building
- HDFC Bank GIFT City IBU closes FY26 with balance sheet exceeding USD 5.5 billion
- More than 100 employees from banking, insurance, wealth and investment businesses to operate from new facility
- Group strengthens cross-border finance, bullion trading, wealth management and global investment offerings
- IFSCA says consolidated HDFC presence in GIFT IFSC opens “new pathways for global capital, innovation and trust”
Located at the Flex One building in GIFT City and spread across 16,250 square feet, the new office will house multiple group entities under one roof, including HDFC AMC International (IFSC) Limited, HDFC International Life and Re Co. Ltd, HDFC Capital Advisors Limited and HDFC Securities.
The facility was inaugurated by Mr. Kaizad M Bharucha, Deputy Managing Director, HDFC Bank; Ms. Vibha Padalkar, MD & CEO, HDFC Life; Mr. Navneet Munot, MD & CEO, HDFC AMC; and Mr. Dhiraj Relli, MD, HDFC Securities. Senior officials of IFSCA graced the occasion, including Mr. Dipesh Shah, Executive Director-Department of Development and Mr. Pradeep Ramakrishnan, Executive Director – Department of Capital Markets.
GIFT City Emerges As Strategic Growth Engine
The HDFC Bank Group’s journey in GIFT City has witnessed remarkable acceleration over the past five years, with the balance sheet of the Bank’s IBU growing more than four-fold to cross the USD 5.5 billion mark at the close of FY26.
The Group’s operations at GIFT City now span wholesale banking, wealth management for NRIs, foreign currency-denominated CASA accounts and term deposits, USD insurance products, global mutual funds, alternate investment funds, structured trade finance, bullion trading, cross-border payments, custody services and international investment products.
The Bank has also emerged as one of the early movers in several strategic initiatives within GIFT City’s evolving ecosystem. It was among the first institutions to participate in the local USD clearing settlement system launched last financial year and secured licences across insurance intermediation, wealth product distribution and bullion exchange trading.
‘Opening New Pathways For Global Capital’
Speaking at the inauguration, Mr. Dipesh Shah, Executive Director-Department of Development said the HDFC Group’s integrated presence signals the growing maturity of India’s international financial ecosystem.
“The presence of the consolidated HDFC Group in GIFT IFSC is not just about opening an office. It is about opening new pathways – for global capital, innovation, talent and trust,” he said.
‘Healthy Growth In Cross-Border Opportunities’
Highlighting the Group’s aggressive international expansion strategy, Mr. Kaizad M Bharucha, Deputy Managing Director, HDFC Bank said the new office reinforces the Bank’s commitment to global financial solutions linked to India’s growing economic ambitions.
“Within a short period of time we have registered a healthy growth in business, expanded client relationships, increasing number of cross-border opportunities and a growing role in supporting global financial flows connected to India. We have made trade finance available to even our SME customers, facilitating their international ambitions,” he said.
“The Group’s new office at GIFT City gives a fillip to our commitment to serving the international financial requirements. Customers coming to our office in GIFT City can choose from a bouquet of products across banking, insurance, investments, and foreign remittances, among others,” Bharucha added.
One Roof, Faster Decisions, Global Scale
With more than 100 employees now operating from the new facility, the Group expects deeper collaboration between its financial services verticals, enabling faster decision-making and integrated solutions for both domestic and international clients.
The move also underlines GIFT City’s growing stature as India’s gateway to global finance, as major financial institutions continue to expand operations in the IFSC ecosystem to tap rising cross-border investment and wealth flows.
