HDFC Bank plans to open 207 branches and 80 ‘smart banking lobbies’ in Maharashtra in FY23, the private sector lender said in a release on Thursday.
As a part of this expansion exercise, the bank will hire over 3,000 employees across the State.
The 207 bank branches will be opened across the State, covering all 34 districts. Of these, 90 branches will be opened in metro and urban areas whereas 117 branches will be in semi-urban and rural areas, the release said.
Further, the 80 ‘smart banking lobbies’ will provide a seamless and self-service banking experience zone for digital-savvy consumers of the bank, and will be operational on a 24x7 basis. These will be located in 16 districts, including Amravati, Aurangabad, Mumbai, Nagpur, Nashik, Navi Mumbai, Pune and Thane, among other locations.
Currently, HDFC Bank has over 5,300 touchpoints in Maharashtra comprising 709 branches, 3,200 ATMs, 1,375 business correspondents and 15,116 business facilitators. The bank’s advances in the State stood at ₹3.3 lakh crore as of March 2022 and deposits were at ₹4.4 lakh crore.
HDFC Bank is the largest private sector bank in the State, in terms of advances and deposits, with a market share of 13 per cent in total business.
The expansion plans come even as the bank is awaiting regulatory and other approvals for the merger of parent company HDFC Limited, with itself.