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Mangaliya Sadak is a village near Indore, and is a rich agricultural zone in the district.
The new branch will offer its customers world-class banking services under one roof ranging from basic
services such as Savings Account, Fixed Deposits, Current Account, Mutual Funds, Insurance, Kisan
Gold Card, Two-wheeler loan, Auto loan, Commercial Vehicles loan to sophisticated direct access
banking channels such as ATM, PhoneBanking, NetBanking and International Credit and Debit Cards.
At the inauguration, Mr. Bharat Shah, Group Head, HDFC Bank said, “It's no coincidence that we
are opening our 2000th branch in Mangaliya Sadak. It's the result of a clear management vision, a
resolve to be the bank of choice for millions of Indians residing in the hinterland, 16 years of hard work
and commitment, together with the faith our customers reposed in us. This is a milestone all of us are
extremely proud of. We dedicate it to our customers and all those who believed in us throughout.”
Mr. Navin Puri, Country Head, Branch Banking, HDFC Bank, from Mumbai said: “I am delighted to
announce that we have opened our 2000th branch at Mangaliya Sadak, near Indore. Mangaliya Sadak
is a rural branch and our presence in this little village further reiterates our commitment to make banking
services accessible to the under-banked and rural areas in India. This indeed is a proud moment for all of
us. We thank all our customers without whose support and continued faith in us we wouldn't have got to
this major milestone."
About HDFC BANK
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance
company, HDFC Bank is one of India's premier banks providing a wide range of financial products and
services to its 21 million customers across hundreds of Indian cities using multiple distribution channels
including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.
Within a relatively short span of time, the bank has emerged as a leading player in retail banking,
wholesale banking, and treasury operations, its three principal business segments.
The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class
service with rapid response time. Over the last 16 years, the bank has successfully gained market share
in its target customer franchises while maintaining healthy profitability and asset quality.
As of March 31, 2011, the Bank had a distribution network with 1,986 branches and 5,471 ATMs in 996 cities.
For the quarter ended March 31, 2011, the Bank’s total income was INR 67.24 billion (`6,724.3 crore) as
against INR 50.04 billion (`5003.9 crore) for the quarter ended March 31, 2010. Net revenues (net interest
income plus other income) were INR 40.95 billion (`4,095.2 crore) for the quarter ended March 31, 2011,
an increase of 24.0% over INR 33.02 billion (`3,302.1 crore) for the corresponding quarter of the previous
year. Net Profit for the quarter ended March 31, 2011 was INR 11.15 billion (`1114.7 crore), up by 33.2%
over the corresponding quarter ended March 31, 2010.
The Bank’s total balance sheet size increased by 24.7% to INR 2773.53 billion (`277,353 crore) as of
March 31, 2011. Total deposits were INR 2085.86 billion (`208,586 crore), up by 24.6% over March 31,
2010.
Total income for the year ended March 31, 2011 were INR 242.63 billion (`24263.4 crore).
Leading Indian and international publications have recognized the bank for its performance and quality. |
