HDFC Bank, the largest private sector lender in India by assets, is set to add 100 branches in the country’s Northeast region, PTI reported.
The expansion will take the bank’s branch count in the region to nearly 230 in the next three years.
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As part of the plan, HDFC’s branch network in Sikkim is expected to double to 18.
The bank will also collaborate with 650 Common Service Centers (CSCs), which will be launched by the Centre for rural area financial services in the region.
HDFC managing director Aditya Puri was quoted as saying: “We believe in making an impact to lakhs of people here not just by offering our full-suite of products and services, but also by creating a positive change in the communities in which we operate.”
At the end of December 2018, HDFC had 126 branches and 203 ATMs in the Northeast, where it commenced business in 2004.
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By GlobalDataThis February, HDFC launched its 5,000th branch in Mumbai.
Earlier this year, HDFC announced the sale of its home loan subsidiary Gruh Finance to Bandhan Bank.
The deal would be reportedly conducted through a $12bn share swap process.
HDFC started operations in January 1995.
The bank was also in the news last July, after it launched share sales in its home market and in the US to raise up to INR155bn ($2.2bn).
