The HDFC Bank, country’s leading private sector bank’s total business in Uttar Pradesh has crossed the Rs 2.75 lakh crore mark.
Total business stood at Rs 2,81,639 crore as of September 30, 2023, marking a year-on-year growth of 53 per cent.
The credit deposit ratio stands at 104.9 per cent as on September 30, 2023.
These details were shared by Akhilesh Kumar Roy, Head – Branch Banking for Uttar Pradesh and Uttarakhand here on Wednesday.
According to the latest State Level Banker’s Committee (SLBC) report, as of September 30, 2023, the Bank’s advances in the state stood at Rs. 1,44,170 crore while deposits touched Rs. 1,37,469 crore, recording Year- on-Year growth of 74.6 per cent and 356 per cent respectively.
The bank’s state level ranking in deposits has jumped to third (fifth in March 2023) and second in Total Advances (third in March 2023). It is the largest lender to the MSME segment with advances standing at Rs 31,267.87 crore as on September 30, 2023. The MSME sector serves as an important engine for economic growth and is one of the largest employers in the economy.
Roy said the bank has rapidly expanded its branch network in UP to the current network of 777 branches and 1,603 ATMs (as on September 30, 2023). Digital banking is strongly supported in the state in order to offer customers convenience and flexibility. The Bank plans to add about 125 branches in FY23-24 in the state thus creating about 1,000 plus jobs, both directly and indirectly.