HDFC Bank Ltd.

HDFC Bank, the country’s second largest private sector bank has decided to set up more number of new branches in the semi-urban and rural areas. It aims to take the total proportion of such outlets to 60% in three years, from present 54%. The bank will be opening around 80% of the approximately 300 new branches in rural areas.

The lender will offer its entire bouquet of products in such areas, which helps it increase the income and fees from a particular branch. With this initiative, the bank can take sustainable livelihoods banking initiative, wherein it gives micro credit to skilled people, trains them in a discipline and also marketing the goods.

The bank’s net profit for the quarter rose by 30.09% at Rs 1843.86 crore as compared to Rs 1417.39 crore for the quarter ended June 30, 2012. Its total Income has increased by 17.95% to Rs 11588.56 crore for the quarter under review from Rs 9825.17 crore for the corresponding quarter of the previous year.