HDFC Banks total advances in Uttar Pradesh cross Rs 65000 crore landmark
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- Largest private sector bank in Uttar Pradesh in Advances and Deposits
- Bank plans to open over 150 branches this year; to hire over 1,000 employees
Lucknow, April 21, 2022: HDFC Bank today announced that its total advances in Uttar Pradesh have crossed Rs 65,000 crore. As of December 31, 2021, the bank’s advances in Uttar Pradesh stood at Rs 67,756 crore. Total advances include all loans offered by bank in the state – which include loans to Retail, Corporate, MSME, and Microfinance customers with major sector being MSME, Agri, Priority Sector lending & Consumer Loan.
With this, the bank is the largest private sector bank in Uttar Pradesh in Deposits and Advances with a market share in total advances at 8.66 per cent. The bank is market leader in Auto & Unsecured Loans in the state.
Furthermore, in the last 12 months, the bank’s total advances have grown by 40 per cent from Rs 48,475 crore as of December 31, 2020 to Rs. 67,756 crore as of December 31, 2021.
“We are grateful to our customers for giving us the opportunity to serve the people of Uttar Pradesh,” said Mr. Akhilesh Kumar Roy, Branch Banking Head – Uttar Pradesh, HDFC Bank. “We are happy to be a partner of growth and fuel the economic activity in Uttar Pradesh. As is evident from the 40% 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 85,760 crore in the state of Uttar Pradesh, which along with the advances add up to total business of Rs 153,516 crore. The bank’s market share in total business is 7%.
HDFC Bank is committed to growth in Uttar Pradesh as evidenced by its network across the length and breadth of the state. Today it has 630 branches and over 1,200 ATMs in the state. The bank started its Uttar Pradesh operations in the year 1998 with a branch in Lucknow. Since then it has rapidly expanded its network and today boasts a presence in every taluka in Uttar Pradesh.
The bank is also reaching the most remote parts of the state with 60% coverage to Semi Urban/ Rural geography and through its network of 3042 business correspondents and 15,116 business facilitators.
The bank works closely with the state government and has been selected for several services which include Digital Solutions to Educational Bodies; Customised Solutions to Various departments for Payments/ Collections; Single Nodal Account for Central Sponsored Schemes; and Government Salary Accounts.
About HDFC Bank
For more information, click here: www.hdfcbank.com
For media queries please contact:
Rohit Panchal
Senior Manager, Corporate Communications
HDFC Bank Ltd.,
Mobile: 9664225963
Email: rohit.panchal@hdfcbank.com
Somasroy Chakraborty
Deputy Vice President, Corporate Communications
HDFC Bank Ltd.,
Mobile: 9830225681
Email: somasroy.chakraborty@hdfcbank.com