HDFC Bank’s total advances in Goa cross Rs 2,500 crore milestone
Largest private sector bank in Goa in terms of advances
Mumbai, February 23, 2022: HDFC Bank today announced that its total advances in Goa have crossed Rs 2,500 crore. As of September 30, 2021, the bank’s advances in Goa stood at Rs 2,620.73 crore. Total advances include all loans offered by bank in the state – which include loans to Retail, Corporate, MSME, and Microfinance customers.With this, the bank is the largest private sector bank in Goa with a market share in total advances in the state at 8.56% percent.
Furthermore, in the last 12 months, the bank’s total advances have grown by 6.8 per cent from Rs 2451 crore as of September 30, 2020.
“We are grateful to our customers for giving us the opportunity to serve the people of Goa,” said Mr. Abhishek Deshmukh, Branch Banking Head – Goa, HDFC Bank. “We are happy to be a partner of growth and fuel the economic activity in Goa. As is evident from the 6.8% growth in advances in the last 12 months – bank continued lending even during Covid-19 – to support the economy.”
Additionally, the bank has deposits of Rs 9,384 crore in the state of Goa, which along with the advances add up to total business of Rs 12,005 crore. The bank’s market share in total business is 9.66%.
HDFC Bank is committed to growth in Goa as evidenced by its network across the length and breadth of the state. Today it has 66 retail branches; two dedicated microfinance branches; and over 150 ATMs in the state. The bank started its Goa operations in 1998 with a five-member branch in Margao. Since then it has rapidly expanded its network and today boasts a presence in every taluka in Goa.
The bank works closely with the state government and has also been fortunate to have been selected by the government for several services. For instance, the Directorate of Transport has availed HDFC Bank's customized solution for collecting various transport fees. The bank has also offered payment gateway / POS facility to Goa's electricity department across 34 locations. Out of the total 191 gram panchayats across Goa, HDFC Bank maintains a relationship of 130 gram panchayat accounts. The bank also services the Goa Tourism Development Corporation Limited, Department of Forest, the State Registration Department, Municipal Councils and Corporations.
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