HDFC Bank plans to double its branches in 3 years

As the bank is aiming to collect more deposits to meet rising loan demand. However the bank took a target of three years to reach out to their goals.

HDFC Bank plans to double its branches in 3 years
HDFC Bank plans to double its branches in 3 years

MUMBAI : India's leading private sector bank HDFC Bank Ltd is setting a target to double the number of its branches in upcoming years. 

As the bank is aiming to collect more deposits to meet rising loan demand. However the bank took a target of three years to reach out to their goals.

Srinivasan Vaidyanathan, chief financial officer (CFO) of HDFC Bank, in an interview said, The bank is now planning to open about 4,500-6,000 branches over the next three years (According to livemint)

He further mentioned, “We are ramping up our distribution. We have opened 730 branches last year with plans to step it up. We have the vision to open roughly 1,500-2,000 branches every year for the next three years. That will provide a massive amount of lift".

The bank currently working yo make both physical and digital presence for that bank will digital banking under its major units.