COIMBATORE: HDFC Bank would expand its branch network by 10 per cent on the current 760 branches across south India, a top bank official said today.
The bank, which reached a milestone of 200 branches in Tamil Nadu, with the opening of a mini-branch at Peedampalli village on the city outskirts, would expand its branch network by 10 per cent on the present 760 branches in the current fiscal, Dhiraj Relli, Branch Banking Head- South, HDFC Bank, told reporters here.
The Bank has doubled its branch network in Tamil Nadu in the past five years, he said, addding, it would also open its first branch in Ariyalur district this fiscal. The bank has presence in all districts except Ariyalur at present, he said.
HDFC has so far opened nine mini branches, with 2 to 3 persons as staff in Tamil Nadu and the mini branch, a new format model introduced by the bank, takes formal banking to unbanked and under-banked areas, he said.
About 40 per cent of its branch network was located in the semi-urban and rural areas and the two-member Peedampalli mini branch would cater to a population of just over 3,500 persons in that unbanked village.