HDFC Bank’s total advances in Assam cross Rs 7,000 crore milestone
Largest private sector Bank in Assam in terms of advances
Guwahati, April 07, 2022: HDFC Bank today announced that its total advances in Assam have crossed Rs 7,000 crore. As of December 31, 2021, the bank’s advances in Assam stood at Rs 7,008 crore. Total advances include all loans offered by bank in the state – which include loans to Retail, Corporate, MSME, and Microfinance customers.
In the state of Assam, HDFC Bank is the largest private sector bank in priority Sector MSME Loan with Total market share of 8.72%.
HDFC Bank is the largest private sector bank in Assam with a market share in total advances in the state at 7.54% per cent.
Furthermore, in the last 12 months, the bank’s total advances have grown by 12.81% per cent from Rs 6,212 crore as of December 31, 2020.
“We are grateful to our customers for giving us the opportunity to serve the people of Assam,” said Mr. Sandeep S Kumar, Branch Banking Head – East, HDFC Bank. “We are happy to be a partner of growth and fuel the economic activity in Assam. As is evident from the 12.81% 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 9,085 crore in the state of Assam, which along with the advances add up to total business of Rs 16,000 crore. The bank’s market share in total business is 5.93%.
HDFC Bank is committed to growth in Assam as evidenced by its network across the length and breadth of the state. Today it has 86 branches and over 143 ATMs in the state. The Bank started its operations in Assam in the year 2004 with its first branch in Guwahati. Since then, it has rapidly expanded its network and today boasts a presence in 31 districts in Assam. The Bank is also reaching the most remote parts of the state through its network of 592 business correspondents.
The Bank works with various departments of Government of Assam by providing digital solutions for implementation of its programs. The Bank is also associated with Assam State Rural Livelihood Mission in funding state-sponsored SHGs. As on December 2021, the bank has offered advances to over 1,700 groups.
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Somasroy Chakraborty
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HDFC Bank Ltd.,
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Rohit Panchal
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HDFC Bank Ltd.,
Mobile: 9664225963
Email: rohit.panchal@hdfcbank.com