Financial Daily from THE HINDU group of publications
Saturday, May 28, 2005
Financial Daily from THE HINDU group of publications Saturday, May 28, 2005 |
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Money & Banking
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Private Banks HDFC Bank to focus on `quality' growth Our Bureau
Mumbai , May 27 HDFC Bank said it would adopt a disciplined growth strategy focussing on quality and not on quantity to increase its market share in India's expanding banking and financial services industry. The bank in its annual report of 2004/2005 said its mission is to be a `world class Indian bank' benchmarking against international standards and best practices in terms of product, offerings, technology, service levels risk management and audit and compliance. "The objective is to build sound customer franchises across distinct businesses so as to be a preferred provider of banking services for target retail and wholesale customer segments and to achieve a healthy growth in profitability consistent with the bank's risk appetite," HDFC Bank said in its report. The bank said it would leverage its technology platform and open scaleable systems to deliver more products and to control operating costs. It also hopes to maintain high standards for asset quality through disciplined credit risk management. The bank said it would continue to develop products and services to reduce its cost of funds and focus on high earnings growth with low volatility.
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