Chennai: HDFC plans to enter the rural banking segment by adding 125 new branches in the state in next two years, said the zonal manager of HDFC Bank for Tamilnadu, R Suresh. Compared to all private and public sector banks in Chennai, HDFC has a market share of 16 per cent.
The deposits made in the bank has crossed Rs 62,000 crore in the current financial year. As on 30 September 2019, the bank crossed Rs 1.5 lakh crore in total deposits. Through digitisation and qualitative customer service, the bank has gained advantage over its competitors, it said. The bank plans to offer better customer convenience and flexibility as it forays its operation in the rural banking segment as well.
Suresh said, ‘We are committed to offering world class banking service to the most remote parts of the state.’ The bank also plans to enter Mannargudi and Ambasamudram with new branches. Currently the bank has a network of 284 branches and 1172 ATM’s in the state. ‘We take this opportunity to thank our customers without whom it would not have been possible to achieve this milestone,’ zonal head of the HDFC, Ramdoss Bharathan said in a statement. ‘As a part of our commitment to the customers, we have installed Cash Deposit Machines (CDM’s) in over 1000 branches in the state so far,’ he concluded.