Friday, June 14, 2024

HDFC Bank Plans to add another 150 branches in the state by March, 2023

HDFC Bank is celebrating a double milestone in Rajasthan. The bank has crossed 250 branches in the state and has recently opened its 50th branch in Jaipur.

The bank now has 257 branches in 141 cities/towns spread across all 33 districts of Rajasthan. The branch network is complemented with 474 ATMs and 78 CDMs, making HDFC Bank one of the largest private sector lenders in the state in terms of distribution network.

The landmark 250th branch and the milestone 50th branch are both located in Jaipur, at Murlipura and Gangauri Bazar, respectively. The branches were digitally inaugurated by Mr. Prateek Sharma, Executive Vice President, and Retail Branch Banking Head – Central India, HDFC Bank, along with his four Circle Heads – Mr. Priyank Vijay (Jaipur), Mr. Vijay Maheswari (Jaipur), Mr. Ajay Singhania (Jodhpur) and Mr. Kumar Saurabh (Udaipur).

The bank’s journey in Rajasthan began way back in 1999 when it opened its first branch in the state at C Scheme in Jaipur. Since then, the bank has been growing its presence across the state through a combination of physical bank branches and digital banking initiatives. Today, the bank has more than 3 million accounts across its branches in Rajasthan, while more than 50% of the branches are located in rural and semi-urban geographies.

HDFC Bank has been tirelessly working with the state government and local communities to offer its best-in-class products and services to residents of Rajasthan. Apart from its branch network, the bank has engaged 567 banking correspondents and 7,452 village level entrepreneurs to cover the proverbial ‘last mile’.

Commenting on the bank’s growing distribution network in Rajasthan, Mr. Prateek Sharma, Executive Vice President, and Retail Branch Banking Head – Central India, HDFC Bank, said: “The twin milestones reaffirm HDFC Bank’s commitment to expand its presence in Rajasthan. From the sand dunes of Jaisalmer to the jungles of Ranthambore, and from cities like Jaipur and Jodhpur to hill stations like Mount Abu, we wish to make quality banking products and services available in every corner of the state. We are already one of the largest banks in terms of branch presence and business, and we will continue to scale new heights going forward. We plan to add another 150 branches in Rajasthan by March, 2023. We will also be hiring around 1,500 professionals over the next 12 months.”

The bank’s total business in the state was at Rs 70,250.75 crore at the end of September 30, 2021, comprising of Rs 41,448.25 crore of advances and Rs 28,802.50 crore of deposits. The credit deposit ratio was at 143.91%.

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