Credit Suisse AT1 Bond Fallout Hits India’s Most Valuable Bank
- Certain customers allege HDFC mis-sold Credit Suisse AT1 bonds
- HDFC says it complied with all laws, took ‘extreme care’
A HDFC Bank Ltd. branch in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Pankaj Sinha was game when his banker at HDFC Bank Ltd., India’s largest private sector lender, mentioned opening an offshore account and investing $250,000 of his savings in overseas bonds.
The 48-year-old even took out a loan to buy more of the notes to get a better return on his investment.