HDFC Bank crosses 325th branch landmark in Kerala
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Honourable Chief Minister of Kerala, Mr. Pinarayi Vijayan inaugurated 35 branches
Thiruvananthapuram, March 30, 2023: HDFC Bank, India’s leading bank, today announced the launch of 35 new branches in Kerala. With this, its total branch network in the state has touched 327. The new branches were inaugurated virtually by the Honourable Chief Minister of Kerala, Mr. Pinarayi Vijayan.
HDFC Bank’s journey in Kerala began in 1997 when the first branch was inaugurated in Cochin. Since then, the bank has been providing banking services through multiple digital channels such as net-banking and mobile banking. HDFC Bank is among the largest banks in the state with advances of over 29,700 crore and a credit-deposit ratio of over 91 per cent.
“The 327th branch opening in Kerala is an important milestone for us and we are extremely thankful to the people for placing their trust in us. Our branch expansion plan in Kerala aims to cater to a wider cross-section of customers covering a larger geography especially in the semi urban and rural locations,” said Mr. Sanjeev Kumar, Branch Banking Head, South, HDFC Bank.
The bank has already opened over 85 branches in the state this year. About 65 per cent of its existing branches are in semi urban and rural locations. The bank plans to open more branches in Kerala in the financial year 2024. This will also enable HDFC Bank to generate additional employment.in the state and add to its employee base of over 7,900. Through its Sustainability Livelihood Initiative (SLI), aimed at bringing people out of poverty, it has impacted 3.56 lakh beneficiaries in the state.
As of December 31, 2022, the Bank had a nationwide distribution network of 7,183 branches and 19,007 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,552 cities / towns. The wide retail network of branches across the country will help the bank increase its presence as well as business. Branches are key points for customer acquisition and retail branch banking has evolved in a significant manner in the past few years. In Kerala, the bank has 511 ATM/CDMs and 327 branches with this launch.
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