HDFC Bank Ltd.

HDFC Bank, the country’s second largest private sector bank is reportedly planning to open 500 mini branches, manned by one to three people, on a pan-India basis by the end of the current financial year. The bank, which started the mini branch initiative a year ago already has 25 such branches in Andhra Pradesh. Recently, the bank has inaugurated 11 mini branches in rural locations across the state.

With this initiative, bank aims to bring 10 million families (40 million Indians) within the banking fold. The approximate size of mini branch is 250-350 square feet and each unit is set up at an investment of Rs 7.5 - 8 lakh. The mini branch comprising of two or three persons, offer all the basic banking services such as savings and current accounts, fixed deposits, recurring deposits, credit card, instant debit card and also ATM facility.

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.