HDFC said total advances in the state were Rs 73,655 crore and total deposits in Karnataka at the end of the first half of fiscal year 2022 were Rs 1.39 lakh crore.
The total business of HDFC Bank exceeded Rs 2 lakh crore in Karnataka in the first six months of the fiscal year 2022, making it the largest private sector bank in the state in terms of overall business volume. Total turnover includes total bank advances as well as total deposits. The lender also said earlier this week that it will hire 1,500 workers in the state over the next year and plans to add another 130 branches in Karnataka, bringing the total to 450 branches.
HDFC Bank said its total advances in the state at the end of September 30, 2021 were Rs 73,655 crore, including loans to retail, corporate, MSME and microfinance clients. The bank has a market share of 9% in total advances in Karnataka. While the total deposits in Karnataka at the end of the first half of the fiscal year 2022 amounted to Rs 1.39 lakh crore.
“Karnataka remains a strategic market for our bank and we are committed to expanding our business in the state. We have supported local businesses and households even during the pandemic as evidenced by the growth of our total business over the past 12 months,” said Ahmed Zackaria, Head of Retail Branch Banking, Karnataka at HDFC Bank.
“We remain the largest private sector bank in Karnataka, making quality banking products and services available in every corner of the state,” he added. HDFC began operations in the state in 1996, two years after its founding. It first opened a branch in the capital Bengaluru and now has branches in 122 cities/municipalities of the state. It also has 1172 ATMs and 92 CDMs.
This post The total business of HDFC Bank in Karnataka exceeds Rs 2 lakh crore; bank to hire 1,500 additional employees was original published at “https://www.financialexpress.com/industry/hdfc-banks-total-business-in-karnataka-tops-rs-2-lakh-crore/2464109/”