HDFC Bank targets 150 more branches by fiscal end
By Vaibhav Aggarwal
Aug 30, 2010
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Private sector lender, HDFC Bank has hinted intentions of opening up another 150 to 200 branches across the country by the end of this fiscal, said a top official of the bank.

"We will be adding between 150 and 200 branches pan-India by this fiscal end, of which over 50 per cent shall be opened in rural and underbanked areas," Executive Director HDFC Bank Paresh Suthankar said.

"The proposed expansion of branch network shall be undertaken in this quater and in subsequent next two quaters," Suthankar said. "As part of this proposed branch expansion plan 10 new branches have been added in Gujarat and another eight shall be opened in the state in next two months," he said.

"Presently we have a branch in Bahrain, and several representative offices overseas. We are planning to open a branch in Hong Kong soon," Head Corporate Communications HDFC Bank Neeraj Jha said.

As a part of its financial inclusion plan, the bank is also planning to deepen its rural reach with the aid of business correspondents.


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