HDFC Bank said in a latest announcement that its total business volume in the state of Karnataka has crossed ₹2,00,000 crore, claiming that this is a record-breaker making it the largest private bank in the state.
In a press statement, the bank informed that its total advances were ₹73,655.39 crore by the last week of September 30, 2021, including loans to retail, corporate, MSME and microfinance customers. It further said that the bank currently enjoys a market share of 9 per cent in total advances Karnataka.
At the end of the first half of financial year, HDFC Bank’s total deposits in Karnataka were at ₹1,39,387.46 crore while the share of deposits was 11.68 per cent of total deposits as recorded on September 30, 2021.
Ahmed Zackaria, Retail Branch Banking Head of HDFC Bank in Karnataka, while commenting on the progress has said that Karnataka “continues to remain a strategic market” for the bank and the team is committed to expand their business in the state further.
Zackaria said they have been “supporting local businesses and households even during the pandemic”, which is evident from their growth of total business in the last 12 months. He added that HDFC remains the largest private sector bank in Karnataka that has been making “quality banking products and services available in every corner of the state.”
Zackaria also discussed the bank’s big plans for the state stating that HDFC plans on adding another 130 branches in Karnataka taking their total branch count to above 450 across the state. Further, HDFC is also looking to hire around 1,500 professionals in the upcoming 12 months for supporting growth across their businesses in the state.
HDFC Bank had initiated its operations in Karnataka in 1996 by opening its first branch in Bengaluru. At present, it has 330 branches in 122 cities/towns spread across all the 30 districts, as recorded on December 31 2021. The branch network is further reinstated by 1,172 ATMs.
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