HDFC Bank Puts Bankers on Leave Amid Credit Suisse Bond Probe

HDFC Bank Ltd., India’s largest private-sector lender, has put two senior executives on gardening leave amid a probe after customers alleged mis-selling of Credit Suisse securities, according to people familiar with the matter.

The bank took the step over the last few months with the employees, who were at the centre of the allegedly disputed trades of Credit Suisse’s Additional Tier 1 bonds, the people said, asking not to be identified discussing confidential matters.

In response to Bloomberg queries, an HDFC spokesperson said, “with reference to the sale of Credit Suisse AT1 Bonds, the bank has not come across any instances of mis-selling till now.”

The spokesperson did not respond to Bloomberg queries regarding the bankers’ placement on leave. “HDFC Bank takes any matter pertaining t