HDFC Bank Will Open 1500-2000 Branches Every Year To Expend Branch Network
HDFC Bank Branch: Private sector HDFC Bank plans to double...
HDFC Bank Branch: Private sector HDFC Bank plans to double its branch network in the next three to five years with about 1500 to 2000 branches opening every year. HDFC Bank has shared this information in its annual report.
CEO Shashidhar Jagadishan gave information in the annual report
“The proposed merger of HDFC Ltd and HDFC Bank will bring a completely different aspect in the future,” Shashidhar Jagadishan, chief executive officer (CEO) of this private sector bank told shareholders in its annual report for 2021-22. He said that we believe the path is huge and we can potentially create an HDFC Bank every five years.
HDFC to double branch network in five years
Jagdishan further said that the bank proposes to almost double its branch network in the next three to five years by opening 1,500 to 2,000 branches every year. Presently the bank has more than 6,000 branches across India. “As per the population of the country, the number of branches of the bank is very less as compared to Organization for Economic Co-operation and Development (OECD) countries. We have more than 6,000 branches in the country and we will be doing 1,500 every year in the next three to five years,” he said. We are planning to almost double our network by opening 2,000 branches.
The merger was announced by Housing Development Finance Corporation (HDFC) and its subsidiary HDFC Bank in early April this year. It is expected to be completed in 15 to 18 months.
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