The Bank was incorporated on July 6th, & the Certificate of Commencement of Business was obtained on 22nd August.

The Bank was promoted by Bennett, Coleman and Co. limited & its subsidiaries. 1995 - The Bank opened its first branch on 8th June at Dr. D N Road, Mumbai. - Home banking facilities are offered at all branches & round the clock ATM facility is available at 34 branches. All the branches are fully computerised & are linked through VSAT. - The Times Bank is 'The Convenience Bank' & has introduced innovative deposit products like 'Times Convenience Deposit' & 'Times Dual Deposit'. It also offers the facility of 'Sunday Holidays and 'Home Banking' service at the customer doorstep. - The Bank introduced 'Service Express' a customer service request tracking system in order to enable customers to know the exact status of their transactions at any point of time. - The Bank has a network of 35 ATMs in 34 branches & offers several facilities such as Cash withdrawals, Cash/cheque deposit, Cheque book requests, Request for Access Draft, Transfer from one Account of the Card Holder to another Acc. of his/her or that of another person. 1998 - Times Bank has tied-up with Maestro Asia/Pacific limited for their on-line PIN-based debit product which is known as Maestro. - The Bank is in the process of tying-up with Brokering and Research Outfits for making Wealth Management Services available for its premium clients. 1999 - The new generation private bank is now launching Internet banking and pioneering newer concepts like debit cards & Millennium centres. - Times Bank is also a Depository Participant with National Securities Depository Limited & provides services for investing in the shares and debentures in the dematerialised form. - Times Bank will be launching the product in July & shall issue the Debit Card to all its individual customers. - The Bank has received the approval from Cirrus Systems Inc. for usage of Cirrus ATM network which will allow the Bank cardholders to access their Acc. at 140 more locations. - Times Bank has also commence offering cash management services to its corporate clients which encompasses a comprehensive range of products such as electronic funds transfer, cheque collections, receivables, payables management including dividend & interest warrant payments and also payroll administration. - Times Banks has entered into a tie-up with Mastercard International to offer MasterCard Maestro debit card to all its savings account holders. The bank has also launched consumer finance products which will generate additional future income streams.

- The bank has set up four strategic business units: assets group, trade finance group, services group & syndication & advisory services group. - TimesBank will become the first bank in the country to provide an on-line, real-time debit programme in Delhi & Mumbai. - TimesBank Ltd has introduced a comprehensive range of cash management products to help corporates improve their cash, liquidity & treasury management operations. - The bank is setting up one of largest cash management service centre networks spanning 22 centres, all networked on a real time basis. - The Bank is coming out with an initial public issue of 3,50,00,000 No. of Equity Shares of Rs 10 each for cash at par aggregating Rs 35 crore. - TimesBank has become the first bank in India to implement a straight-through-processing & integrated enterprise-wide portfolio risk management system. - The proposed amalgamation of TimesBank & HDFC Bank is the first of its kind in India where two profitable private banks have agreed to merge on a negotiated basis. 2000 - HDFC Bank shareholders on Saturday approved the proposal amalgamation of TimesBank with their bank at an extraordinary general meeting [EGMs].

Times Bank Limited (owned by Bennett, Coleman & Co. / Times Group) was merged with HDFC Bank Ltd., in 2000. This was the first merger of two private banks in India. Shareholders of Times Bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank.
Business Objective Our primary objective is to enhance residential housing stock in the country through the provision of housing finance in a systematic and professional manner, and to promote home ownership. We aim to increase the flow of resources to the housing sector by integrating the housing finance sector with the overall domestic financial markets. Our goals:

Develop close relationships with individual households. Maintain our position as the premier housing finance institution in the country. Transform ideas into viable and creative solutions. To grow through diversification by gaining leverage from our existing client base. To nurture the values and ethos of Brand HDFC through all its Subsidiaries and Associate Companies. Our growth strategies: Increase the return on equity each year by 1 percentage point in order to maximise shareholder value; Maintain gross Non-Performing Assets (NPAs) below 1%; Consistently grow the loan book;

Improve operational efficiency by consistently bringing down the cost to income ratio.