HDFC Bank banks on 3G services to boost mobile banking share

HYDERABAD: HDFC Bank aims to increase its mobile banking share, which is below 5 per cent currently, to 10 per cent in Andhra Pradesh once 3G services are fully rolled out in the state, said a senior official.

The leading private lender is also set to open 34 new branches in the state before the end of this financial year, taking their total number to 137.

"It (mobile banking) is still in the nascent stage. It has to go a long way. After facilities like 3G services are launched, it is expected to reach 10 per cent. Currently mobile banking is around 3 to 5 per cent," CS Gopinath, Senior Vice-President, HDFC Bank, told PTI.

He said the aim is to encourage customers to go for more technology-based services like ATM , mobile and Internet banking.

According to Gopinath, only 26 per cent of HDFC Bank's customers visit its branches and rest depend on ATMs, Internet and mobile for their banking needs. "We have 450 to 500 ATMs in AP and up to 20 per cent customers use Internet banking."

He said they are planning to open 34 new branches in the state by the end of this fiscal.

"Currently, we have 103 branches in AP. We plan to open another 34 by the end of this financial year, taking the number of branches to 137. In Karnataka we have close to 100 branches and in Kerala 150. In Tamil Nadu we have 135 branches," he informed.

Source: EconomicTimes