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HDFC banking on 3G to boost mobile banking share

HDFC banking on 3G to boost mobile banking share
PTI
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First Published: Sun, Feb 20 2011. 03 30 PM IST
Updated: Sun, Feb 20 2011. 03 30 PM IST
Hyderabad: HDFC Bank aims to increase the number of clients using its mobile banking services in Andhra Pradesh to 10% of its customer base once 3G services are fully rolled out in the state from below 5% at present, a senior official has said.
The leading private lender is also set to open 34 new branches in the state before the end of this financial year, taking the total number to 137.
“It (mobile banking) is still in the nascent stage. It has to go a long way. After facilities like 3G services are launched, it is expected to reach 10%. Currently, mobile banking is around 3 to 5 %,” HDFC Bank senior vice-president C S Gopinath said.
He said the aim is to encourage customers to go for more technology-based services like ATM, mobile and Internet banking.
According to Gopinath, only 26% of HDFC Bank’s customers visit branches and the rest depend on ATMs, the Internet and mobiles for their banking needs. “We have 450 to 500 ATMs in AP and up to 20% of customers use Internet banking,” he said.
He said HDFC Bank plans to open 34 new branches in the state by the end of this fiscal.
“Currently, we have 103 branches in AP. We plan to open another 34 by the end of this financial year, taking the number of branches to 137. In Karnataka, we have close to 100 branches and in Kerala - 150. In Tamil Nadu, we have 135 branches,” he informed.
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First Published: Sun, Feb 20 2011. 03 30 PM IST
More Topics: HDFC Bank | Andhra Pradesh | 3G | C S Gopinath | ATMs |