HDFC to open over 150 branches across India by fiscal end

HDFC to open over 150 branches across India by fiscal end

Kadi: Private sector bank HDFC Bank today said it plans to open around 150 to 200 branches across the country by this fiscal end.

“We will be adding between 150 and 200 branches pan-India by this fiscal end, of which over 50% shall be opened in rural and underbanked areas," executive director HDFC Bank Paresh Suthankar told reporters here.

“The proposed expansion of branch network shall be undertaken in this quarter and in subsequent next two quarters," Suthankar said.

“As part of this proposed branch expansion plan 10 new branches have been added in Gujarat and another eight shall be opened in the state in next two months," he said.

In the first quarter ending June, the bank had network of 1,725 branches pan-India, of which 165 were in Gujarat.

“Presently we have a branch in Bahrain, and several representative offices overseas. We are planning to open a branch in Hong Kong soon," Head Corporate Communications HDFC Bank Neeraj Jha said.

The bank is also expanding it’s rural reach in the country through the business correspondent model of banking.