HDFC is the largest private sector bank in UP in deposits and advances matrix
By VIRENDRA SINGH RAWAT
LUCKNOW, Apr 22 (The CONNECT) - Private sector lender HDFC Bank has planned to increase the employee headcount in Uttar Pradesh by 4,000 in the current financial year.
The proposed fresh hiring would increase the Bank’s total employee strength in the state by 33 percent from 12,000 to 16,000.
“In the financial year 2022-23, we plan to launch 151 new branches to expand our network in the state,” HDFC Bank, branch banking head, UP, Akhilesh Kumar Roy told the media on Thursday.
Last year, HDFC Bank had opened 72 new branches, which increased its network to 630 branches in UP, of which 57 percent of the branches are in the rural and semi-urban geographies.
Meanwhile, the Bank has reported total business of more than Rs 1.50 trillion, of which deposits stood at nearly Rs 85,000 crore. In 2020-21, the Bank’s total business stood at more than Rs 1.18 trillion in UP.
“HDFC Bank has the highest credit deposit (CD) ratio of 79 percent among all the banks operating in the state,” he said adding the Bank had clocked 40 percent uptick in advances in the financial year 2021-22 to more than Rs 65,000 crore.
Advances pertained to all the segments viz. retail, corporate, MSME, and microfinance, with major sector being MSME, agri, priority sector lending and consumer loans.
HDFC is the largest private sector bank in UP in deposits and advances matrix with a market share in advances at 8.66 percent. It is the market leader in auto and unsecured loans too.
“Considering that the annual banking volume in UP is to the tune of Rs 12 trillion, the HDFC Bank with total book size of Rs 1.50 trillion accounts for 12.5 percent of the kitty,” he informed.
Today, the Bank has 630 branches and 1,200 ATMs in the state. It boasts of serving the most remote locations through its network of 3,042 business correspondents (BC) and 15,116 business facilitators, apart from the brick-and-mortar branches.