Private sector bank HDFC Bank aims to ride the growth opportunities thrown up by the increasing affluence of rural India to grow at a faster pace than the industry average over the next few years, its Managing Director, Mr Aditya Puri said.

The bank will also focus on organic growth, having completed the acquisition of Centurion Bank of Punjab (CBoP) a couple of years ago, which has given it a strong pan-India footprint, he said.

“There is a tremendous opportunity in rural India with the country’s GDP poised to grow at 8 per cent-plus over the next few years, HDFC Bank is well-positioned to tap this opportunity for rapid growth,” Managing Director Aditya Puri told PTI here.

“Bharat is growing rapidly —— there are agricultural reforms taking place, supply-chains are being developed and improved, per capita income is increasing and ancillary units are growing around manufacturing. All this makes HDFC Bank optimistic about the financial sector growth going forward,” Puri said.

The bank constantly innovates and comes up with new offerings, he said, citing the example of its loans against gold jewellery facility.

“Now we give loans against gold jewellery, which helps us tap business from small shop—keepers, small businesses and others in rural areas. This business is a good one in the interiors of the country,” the HDFC Bank chief said.

HDFC Bank’s strategy presently is to grow organically and “we have the ability to achieve our future growth targets organically. Besides, we have laid a great deal of emphasis on our asset quality —— it has never been in distress and our NPA levels are very low,” Mr Puri said.

On fund—raising, he said it is not on the immediate horizon. “We have a capital adequacy ratio of over 16 per cent —— there is no need for us to raise funds immediately,” he added.

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