- Plans to add 100+ branches by March 2023
- Expected to create about 1000 jobs
Ahmedabad, December 21, 2022: HDFC Bank, India’s leading bank has inaugurated its 500th branch in the state. The opening of the new branch at Sindhu Bhavan Road, Ahmedabad, Gujarat makes it the first private sector bank in the state to touch this landmark.
Mr. Thomson Jose, Retail Branch Banking Head Gujarat announced this at a press conference today. The launch of this branch is in line with the banks plans to increase its presence across Gujarat. It plans to improve its footprint across the metro, urban, semi-urban and rural locations in the state. About half its branches in the country as well as the state are located in the semi urban and rural areas.
HDFC Bank has rapidly expanded its branch network in Gujarat by opening 102 branches in the past 5 years.The bank has already opened 25 branches in this Financial Year and plans to end the year by opening 100+ branches in the state by March 2023, which is expected to generate employment for about 1000 people.
Speaking at the inauguration, Mr. Thomson Jose, Retail Branch Banking Head Gujarat, HDFC Bank said, “We are delighted to help contribute to the Gujarat growth story. The state’s entrepreneurial spirit has spawned many successes especially in the MSME sector. Through our growing branch network and other initiatives, we plan to cater to this growth and contribute to the prosperity of the people of Gujarat.”
HDFC Bank’s journey in Gujarat began in the year 1996 with the opening of its first branch at Navrangpura, Ahmedabad. The Bank lends to a host of sectors including agriculture, MSME’s and renewable energy.It has a strong retail portfolio comprising car loans, two-wheeler loans, consumer durable loans, personal loans and credit cards.