HDFC Bank’s total advances in Maharashtra cross Rs 3 lakh crore milestone

With 13% market share in Advances and Deposits, HDFC Bank is largest private sector bank in Maharashtra

 by Suman Gupta

Mumbai, June 10, 2022: HDFC Bank today announced that its total advances in Maharashtra have crossed Rs 3 Lakh crore. As of March 31, 2022, the Bank’s advances in the state stood at Rs 3,28,508 crore. Total advances include all loans offered by bank in the state – which include loans to Retail, Corporate, MSME, and Microfinance customers with major sector being MSME, Agri, Priority Sector lending & Consumer Loan.

Furthermore, in the last 12 months, the Bank’s total advances have grown by 23 per cent from Rs 2,66,082 crore as of March 31, 2021 to Rs 3,28,508 crore as of March 31, 2022.

“We are grateful to our customers for giving us the opportunity to serve the people of Maharashtra,” said Mr. Abhishek Deshmukh, Branch Banking Head – Maharashtra, HDFC Bank. “The Bank is committed towards providing accessible & IT enabled Banking Services to the people of Maharashtra. We are also happy to be a partner of growth and fuel the economic activity in Maharashtra. As is evident from the 23% growth in advances in the last 12 months – bank continued lending even during Covid-19 – to support the state economy. The Bank’s Credit to Deposit Ratio is in excess of 100% in 29 Districts, which is a testimony of the Bank’s commitment to the state.”

Additionally, the Bank has deposits of Rs 4,35,604 crore in the state of Maharashtra, which along with the advances add up to total business of Rs 7,64,113 crore. The Bank’s market share in total business is 13%. With this, the Bank is the largest private sector Bank in Maharashtra in Deposits and Advances.

HDFC Bank is committed to growth in Maharashtra as evidenced by its network across the length and breadth of the state. The Bank has 3,200 ATMs and 709 branches in the state. 303 branches, out of 709, are located in semi urban and rural areas of the state. These rural branches, along with 1375 business correspondents, and 15,116 business facilitators help the Bank reach remote parts of the state.

The Bank started its Maharashtra operations in the year 1995 with a branch in Mumbai. Since then, it has rapidly expanded its network and today boasts a presence in every District and 280+ Talukas in Maharashtra.

The Bank works closely with the state government and has been selected for several services which include customised solutions to various departments for Payments / Collections; Single Nodal Account for various Government Sponsored Schemes; and Government Salary Accounts.

In the state of Maharashtra, the Bank’s umbrella brand for all its CSR initiatives, Parivartan, has positively impacted over 60 lakh individuals.