Home loan lender, HDFC Bank has expressed its aims of starting another 150 to 200 branches throughout the country by the end of this fiscal, according to a senior bank official.
Paresh Suthankar, Executive Director of HDFC Bank said, “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”.
He said, “The proposed expansion of branch network shall be undertaken in this quater and in subsequent next two quaters. 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”.
Neeraj Jha, Head, Corporate Communications HDFC Bank said, “Presently we have a branch in Bahrain, and several representative offices overseas. We are planning to open a branch in Hong Kong soon”.
As a move towards financial inclusion, the bank also intends to broaden its rural reach by using the business correspondents.