HDFC Bank, India’s leading bank, announced the launch of its 500th branch in Tamil Nadu at Arasaradi, Madurai district. The milestone branch was inaugurated virtually by the Finance Minister of Tamil Nadu, Dr. Palanivel Thiagarajan from the Secretariat of Tamil Nadu.
Senior executives from HDFC Bank present on the occasion were Mr Sanjeev Kumar, Branch Banking Head, South, Mr. R Suresh, Regional Head-Rural Banking, South and Mr. Ramdoss Bharathan, Senior Zonal Head, Chennai. The Bank will continue to expand its network in the state with a greater focus on semi-urban and rural locations.
HDFC Bank is the second largest bank in the state with a market share in advances of over 11.5 per cent and a credit -deposit ratio of 138 per cent. It is also the number one bank for MSME advances in Tamil Nadu. It employs over 13,000 people at present.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 and towns.
“It is a privilege to be touching this landmark in the state. We are committed to helping the people of Tamil Nadu progress further through our world class products and services backed by a strong culture of service,” said Mr. Sanjeev Kumar, Branch Banking Head - South, HDFC Bank.
“HDFC Bank is committed to financial inclusion, and this is part of our endeavor to take banking to the remotest corners of the state. We will continue with our focus on semi urban and rural areas,” said Mr. R Suresh, Regional Head- Rural Banking, South.
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