BackHDFC Bank's loan advances cross ₹3 trillion in Maharashtra
HDFC Bank has deposits of ₹4.36 trillion in the state, which along with the advances add up to total business of ₹7.64 trillion
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Mumbai: Private sector lender HDFC Bank on Friday said its total advances in Maharashtra have crossed ₹3 trillion.
As on 31 March 2022, the bank’s advances in the state stood at ₹3.29 trillion. Total advances include all loans offered by bank in the state – which include loans to retail, corporate, small businesses and microfinance customers. The bank said that in the last 12 months, its total advances have grown 23%, from ₹2.66 trillion as on 31 March 2021.
“As is evident from the 23% growth in advances in the last 12 months, the bank continued lending even during covid-19 to support the state economy. The bank’s credit to deposit ratio is in excess of 100% in 29 districts, which is a testimony of the bank’s commitment to the state," said Abhishek Deshmukh, branch banking head (Maharashtra), HDFC Bank.
Additionally, the bank has deposits of ₹4.36 trillion in the state, which along with the advances add up to total business of ₹7.64 trillion, it said. HDFC Bank added that its market share in total business is 13% and it is the largest private sector bank in Maharashtra in terms of deposits and advances.
The bank said it has 3,200 ATMs and 709 branches in the state, of which 303 branches are located in semi-urban and rural areas. These rural branches, along with 1,375 business correspondents, and 15,116 business facilitators help the bank reach remote parts of the state, it said.
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