HDFC Bank biz in Karnataka tops Rs 2 trn, lender leads pvt sector in state

HDFC Bank biz in Karnataka tops Rs 2 trn, lender leads pvt sector in state

HDFC Bank announced on Tuesday that its total business in Karnataka has crossed Rs two trillion, making it the largest private sector bank in the state in terms of overall business volume.

The bank's total advances in the state stood at Rs 73,655.39 crore on September 30, 2021, which included loans to retail, corporate, MSME and Microfinance customers, the bank said in a press release. The lender enjoys a market share of nine per cent in total advances in the state.

HDFC Bank's total deposits in Karnataka were at Rs 1,39,387.46 crore at the end of the first half of this financial year. The share of deposits was 11.68 per cent of total deposits as on September 30, 2021.

Commenting on the bank's growing business and footprint in the state, Ahmed Zackaria, Retail Branch Banking Head–Karnataka, HDFC Bank, said: "Karnataka continues to remain a strategic market for our bank and we are committed to expand our business in the state further. We have been supporting local businesses and households even during the period of pandemic as is evident from the growth in our total business over the last 12 months. We continue to be the largest private sector bank in Karnataka making quality banking products and services available in every corner of the state."

"Going forward, we plan to add another 130 branches in the state taking our total branch count to more than 450 in Karnataka. We will also be hiring around 1,500 professionals over the next 12 months to support growth across our businesses," he added.

HDFC Bank started its operations in Karnataka in 1996 when it opened its first branch in the state in Bengaluru. The bank at present has 330 branches in 122 cities/towns spread across all 30 districts of Karnataka as of Dec 31 2021. The branch network is complemented with 1172 ATMs and 92 CDMs.