In a bid to expand its footprint, HDFC Bank is planning to open about 500 new branches in FY17. About 60% of new branches would be coming up in semi-urban and rural areas and the remaining in urban areas.
In FY16, the bank opened 506 branches leading the tally to 4,520 at the end of March 2016. Of 506 branches, 256 branches were opened in semi-urban and rural areas.
Further, the bank is planning to raise Rs 50,000 crore through bonds over one year to fund business growth.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 32 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
