HDFC Bank is eyeing 17-18 per cent loan growth during the current financial year as there is enough credit demand. During the firstquarter, the total advances of the bank rose by 15.8 per cent to Rs 16.15 lakhcrore. Effective July 1, the parent mortgage firm HDFC merged with itssubsidiary HDFC Bank making it the second biggest lender after State Bank ofIndia.
On the distribution front, the bank added 39 branches in thequarter, while 1,482 branches were added over the last 12 months. The totalnumber of branches now stands at 7,860. With regard to cards, the bank hasissued 1.5 million cards in the first quarter and the total card stands at 18.4million.
HDFC Bank is one of India’s premier banks providing a widerange of financial products and services using multiple distribution channelsincluding a pan-India network of branches, ATMs, phone banking, net banking andmobile banking.
