HDFC Bank MSME loan book in Punjab crosses Rs 15,000 crore in Advances

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• No 1 bank for MSMEs in Punjab with over 24% market share

• The bank has offered advances to over 45,641 MSME units in the state so far

Chandigarh (Punjab), December 21, 2021: HDFC Bank’s MSME loan book in Punjab has crossed the milestone of Rs. 15,000 crore. As of September 30, 2021, the bank’s Micro, Small, and Medium Enterprises book for Punjab stands over Rs. 15,554 crore. HDFC Bank is the largest bank for MSMEs in the state with a market share of over 24% per cent.

HDFC Bank started offering advances to MSMEs in Punjab in the year 2004. In the last 17 years in the state, the Bank has offered advances and supported growth plans of over 45,000 MSME enterprises. These enterprises demonstrate the spirit of entrepreneurship that form the backbone of economic growth in more than 145 cities and towns covering all 23 districts of the state of Punjab.

Further, HDFC Bank has supported over 7,400 enterprises in the Government of India’s ECLGS scheme.

“We thank our customers for the trust reposed in the bank,” said Mr. Gurpreet Nagpal, Head, Business Banking – Punjab & Haryana, HDFC Bank. “MSMEs are the backbone of the economy and are amongst the largest job creators. We are proud to be largest Bank in State of Punjab in MSME advances and have been partnering in their growth journey with our world-class products. Benefiting from the conducive policy environment, the enterprising state of Punjab presents opportunities for MSMEs and banks alike. To meet these requirements, we’ll expand to 20 locations in the state as well as increase our digital footprint in the state.”

The Bank has a strong suite of products and services. Some of them are:

Majority of these products as well as services can be availed digitally, using the bank’s real-time online solutions – TradeOnNet; Netbanking; and SME Bank. In the MSME business, digital transactions comprise over 70 per cent of the total transactions and on overall basis 80% of transactions are digital for the Bank.

The key sectors to which the Bank has given advances to include:

About HDFC BANK

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For media queries please contact:

Ravindran Subramanian
Vice President, Corporate Communication
HDFC Bank Ltd., Mumbai.
Tel: +91-22-6652 7128
Mobile: 9223306610
Ravindran.Subramanian@hdfcbank.com
Twitter: @ravisunHDFCBank