HDFC Bank vs NEC: Founders, CEOs and History
HDFC Bank was founded in 1994 by Hasmukhbhai Parekh and is led by Sashidhar Jagdishan. NEC was founded in 1899 by Kunihiko Iwadare and is led by Takayuki Morita.
Company facts
Founders
HDFC Bank
Hasmukhbhai Parekh
Hasmukhbhai Thakordas (H.T.) Parekh founded Housing Development Finance Corporation (HDFC) in 1977, at age 66, after a long career at ICICI.
NEC
Kunihiko Iwadare
Kunihiko Iwadare founded NEC (Nippon Electric Company) in 1899. After working for Thomas Edison in New York, he returned to Japan and formed a highly strategic joint venture with Western Electric, creating Japan's very first joint venture with foreign capital.…
CEOs and their tenures
HDFC Bank
- Aditya Puri1994–2020
Managing Director
Over 26 years as CEO, he built HDFC into India's largest and most highly valued private sector bank, maintaining pristine asset quality throughout multiple economic cycles.
Source - Sashidhar Jagdishan2020–present
Managing Director and Chief Executive Officer
Steered the bank through the RBI technology restrictions and the largest merger in Indian banking, while keeping gross NPAs near 1.2%.
Source - Atanu Chakraborty2021–2026
Part-time Chairman
Former Economic Affairs Secretary who chaired the board through the HDFC Ltd merger; resigned on March 18, 2026, citing ethical concerns. Keki Mistry served as interim chairman until Rajiv Kumar's appointment.
Source - Rajiv Kumar2026–present
Part-time Chairman
He managed the complex post-merger integration processes to ensure the massive combined loan book maintained strict asset quality.
Source
NEC
- Koji Kobayashi1964–1988
Former CEO and Chairman
Kobayashi's C&C concept became closely associated with his name across the global electronics industry and guided NEC's investment into semiconductors and mainframe computing, helping make NEC one of the world's largest chipmakers and computer manufacturers du…
Source - Takayuki Morita2021–present
President and Chief Executive Officer
His tenure has focused on repositioning NEC away from its historical dependence on domestic telecom-equipment and PC hardware sales toward recurring software, cybersecurity, and biometric-identification revenue, an area where NEC has long-standing technology b…
Source
Timeline: HDFC Bank and NEC side by side
1899NEC
Nippon Electric Company Founded
Kunihiko Iwadare, the Japanese sales agent for Western Electric, and W.T. Carleton, head of Western Electric's Tokyo branch, establish NEC on July 17, 1899, making it one of the first Japanese companies built on direct ties to an American electrical manufactur…
1958NEC
Computer Expansion
NEC expands from communications equipment into computers and enterprise technology.
1982NEC
C&C Strategy
NEC promotes the integration of computers and communications as a strategic identity.
1994HDFC Bank
HDFC Bank Incorporated
HDFC Bank is incorporated as one of India's new private-sector banks.
1994NEC
Acquired Packard Bell
NEC acquired Packard Bell. NEC acquired Packard Bell in 1994.
1995HDFC Bank
Banking Operations Begin
The bank begins operations and builds a private-sector banking franchise.
2000HDFC Bank
Times Bank Merger
HDFC Bank merges with Times Bank, one of its early scale-building deals.
2011NEC
PC Joint Venture with Lenovo
NEC restructures its PC business through a joint venture with Lenovo.
2018NEC
Acquired Northgate Public Services
NEC acquired Northgate Public Services for $645 million. NEC acquired UK-based Northgate Public Services from private-equity owner Cinven for about 475 million (roughly $645 million) to expand its digital-government software business into the British public se…
2020HDFC Bank
Sashidhar Jagdishan Becomes CEO
Sashidhar Jagdishan succeeds Aditya Puri as managing director and CEO in October 2020.
2021NEC
Takayuki Morita Becomes President and CEO
Takayuki Morita, previously CFO, becomes NEC president and CEO on April 1, 2021.
2023HDFC Bank
HDFC Ltd Merger Completed
HDFC Bank completes the merger with parent HDFC Ltd, creating a much larger banking balance sheet.
2024NEC
BluStellar Strategy Launched
NEC introduces BluStellar, a value-creation model applying AI -- including a partnership integrating Anthropic's Claude -- across its IT Services and Social Infrastructure businesses.
2026HDFC Bank
FY2025-26 Net Revenues Reach INR 1,91,218.60 Crore
HDFC Bank reports ~$22.2 billion (INR 1,91,218.60 crore) in net revenues and ~$8.66 billion (INR 74,671.30 crore) in profit after tax.
2026HDFC Bank
Rajiv Kumar Becomes Chairman
After Atanu Chakraborty resigned in March 2026, the RBI approved Rajiv Kumar as part-time chairman effective July 15, 2026.
2026NEC
FY26/3 Revenue Reaches ~$24 billion (3.5827 Trillion Yen)
NEC reports higher revenue and record profit margins, with IT Services and Social Infrastructure as the key businesses.
Acquisitions
HDFC Bank
- HDFC Ltd. (Reverse Merger)2023Undisclosed
- Centurion Bank of Punjab2008Undisclosed
Questions about HDFC Bank vs NEC
Who is the CEO of HDFC Bank Limited and NEC Corporation?
HDFC Bank Limited is led by Sashidhar Jagdishan and NEC Corporation is led by Takayuki Morita. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was HDFC Bank Limited founded vs NEC Corporation?
NEC Corporation was founded in 1899 — 95 years before HDFC Bank Limited, which was founded in 1994. NEC Corporation's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger HDFC Bank Limited.
How many employees does HDFC Bank Limited have compared to NEC Corporation?
HDFC Bank Limited employs approximately 211,178 people, while NEC Corporation employs approximately 101,800. HDFC Bank Limited has the larger workforce at 211,178 employees, compared to NEC Corporation's 101,800. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are HDFC Bank Limited and NEC Corporation headquartered?
HDFC Bank Limited is headquartered in India and NEC Corporation is headquartered in Japan. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded HDFC Bank Limited and NEC Corporation?
HDFC Bank Limited was founded by Hasmukhbhai Parekh. NEC Corporation was founded by Kunihiko Iwadare.
Which company has a longer operating history — HDFC Bank Limited or NEC Corporation?
NEC Corporation has been operating for approximately 127 years, making it the more established of the two companies. HDFC Bank Limited has been in operation for around 32 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the HDFC Bank vs NEC overview