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Friday, January 11, 2013

HDFC Bank to scale up branch count in Gujarat

Gujarat is a focused state for HDFC Bank and it will open 250 branches in the state over the next three years, taking the total tally to 465 branches, the bank’s Managing Director, Aditya Puri said today.

“The state grew at the rate of 10 per cent. HDFC believes that Gujarat will grow at the same rates. We have 215 branches in the state and we plan to open 250 more branches here in the next three years,” Puri said here at the sixth edition of ’Vibrant Gujarat’.

“Gujarat is a focused state for HDFC Bank... Our credit-deposit ratio in the state is at 105 per cent,” he added.

Defying the doomsayers on the India’s economic prospect in the wake of widening gap in the fiscal deficit, Puri showed optimism of the Indian prospect in the medium to long term.

“India’s medium to long term prospect remains intact,” Puri said.

His comments come against the backdrop of a slowdown in the country’s economy and mounting concerns over high fiscal and current account deficits.


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