Since widening its scope of business in 2011, the bank established itself as a supporter of small and medium-sized enterprises.

The government of Sri Lanka holds 51% of the bank's stocks, mainly through the National Housing Development Authority.

The Housing Development Finance Corporation (HDFC) was incorporated in December 1983 as a building society.

[5] Due to the bank's success in supporting micro, small and medium-scaled enterprises prompted the bank to establish a separate unit to focus on micro, small and medium-scaled enterprises.

[8] In 2014, HDFC Bank's then-chairperson, Siromi Wickramasinghe was named among the 50 Most Powerful Women in Sri Lanka by the business magazine, Echelon.

The rating agency considered the banks' foreign currency funding and liquidity positions to be volatile amid poor creditor confidence as a result of the Sri Lankan economic crisis.