Money & Banking

HDFC Bank to add 125 branches in TN

Our Bureau Chennai | Updated on February 01, 2020 Published on January 28, 2020

HDFC Bank, the country’s largest private sector lender, will open 125 new branches across Tamil Nadu, taking its branch strength in the State to 400 over the next two years.

“We are committed to offering our world-class banking services to the most remote parts of the State. Our plan to open 125 more branches is testament to this,” R Suresh, Senior Vice-President & Zonal Head, Retail Branch Banking, Tamil Nadu Zone, told presspersons here on Tuesday.

As of December, HDFC Bank had a network of 5,345 banking outlets and 14,533 automated teller machines (ATMs)/Cash Deposit & Withdrawal Machines (CDMs) in 2,787 cities across the country.

In Tamil Nadu, the bank has 1,172 ATMs and 284 branches, of which 121 are located in metros, 97 in semi-urban areas while urban and rural areas have 48 and 18 branches, respectively.

Suresh said the proposed branches will create around 1,500 jobs, adding to the existing strength of 7,000 employees in the State.

He said the bank has reached a business milestone of ₹1.5-lakh crore in the State as on September 2019. Advances accounted for ₹89,000 crore and deposits for ₹62,000 crore.

HDFC Bank has close to 9 per cent market share in Tamil Nadu and enjoys a leadership position in Chennai with a market share of 16 per cent.

Published on January 28, 2020
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