Ahmedabad: HDFC Bank Ltd. today announced that it would open 25 more branches in Gujarat, taking its branch network to over 440 in the State. The Bank would open these branches by Dec 2019.

This announcement was made by Debashis Senapati, Branch Banking Head – Gujarat, HDFC Bank at a press conference in Ahmedabad. Designated Branch Banking Head – Gujarat, Debashis is responsible for the bank’s large retail franchise in the state.

As of March 31, 2019, the bank had a network of 415 branches and 1,187 ATMs in the state, the largest among private banks. Over 51 per cent of these branches are in the semi-urban and rural areas.

HDFC Bank started its journey in Gujarat in 1996, with its very first branch in the city set up in Navrangpura. The Bank has rapidly expanded its branch network in Gujarat to serve its 20 lakh customers. The Bank has also given a concerted push to its Digital Banking strategy in the state as part of its efforts to deliver services using multiple technology platforms.

Since then, it has extensively leveraged technology to provide banking services through a host of digital channels such as net banking and mobile banking. HDFC Bank is today reaching out to an increasing number of people across the state through its branch network complemented by initiatives under its ‘Go Digital’ campaign.

“We are committed to offering our world-class banking services in every district of the state,” said Mr. Debashis.“Our plan to open more 25 branches is testament to this. Further, 51 per cent of our existing 415 branches are in semi-urban and rural areas. It’ll be my endeavour to ensure that HDFC Bank continues to be the banker of choice for millions in the state. Our focus will be on offering superior customer experience across all channels – branches, netbanking, mobile banking, wallet, and chatbot.”

HDFC Bank is the largest private sector bank in Gujarat, as per the SLBC data as of March 31, 2019.

In Gujarat, as a socially responsible corporate citizen, the bank has brought about #Parivartan in the lives of over 16.5 lakh people. #Parivartan, which means change, is the Bank’s endeavor to bring about a sustainable change in society.

Facts:

– Out of total 415 branches in Gujarat, 59 are in urban areas, 143 in metro areas, 120 in semi urban areas. 51% branches are in semi urban and rural areas.

– HDFC is largest private sector bank in Gujarat.

– HDFC enjoys 9% market share in Gujarat among banks.

– Bank’s CD ratio is 116.54%. It has been above 100% consistently in last five years. It means the bank takes Rs. 100 as deposit in Gujarat but against that it offers Rs. 116 as lone in the State.

– HDFC has its branches in all districts of Gujarat barring Dang. The bank is in talks with district administration of Dang to open a branch there. With opening of a branch in Dang, HDFC will have its presence in all districts of Gujarat.

– HDFC’s gross NPA in Gujarat is less than 2% while net NPA is less than 1%.

DeshGujarat

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