HT Bureau
Guwahati, April 7: HDFC Bank announced that its total advances in Assam have crossed INR7000 crore on Thursday. As of December 31, 2021, the bank’s advances in Assam stood at INR7008 crore. Total advances include all loans offered by banks in the state – which include loans to Retail, Corporate, MSME, and Microfinance customers. Furthermore, in the last 12 months, the bank’s total advances have grown by 12.81% percent from INR6212 crore as of December 31, 2020.
“We are grateful to our customers for allowing us to serve the people of Assam. We are happy to be a partner of growth and fuel the economic activity in Assam. As is evident from the 12.81% growth in advances in the last 12 months – bank continued lending even during Covid-19 – to support the economy,” said Sandeep S Kumar, Branch Banking Head – East, HDFC Bank.
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Additionally, the bank has deposits of INR9085 crore in the state of Assam, which along with the advances add up to a total business of INR16000 crore. The bank’s market share in the total business is 5.93%. Notably, HDFC Bank is committed to growth in Assam as evidenced by its network across the length and breadth of the state. Today it has 86 branches and over 143 ATMs in the state. The Bank started its operations in Assam in the year 2004 with its first branch in Guwahati. Since then, it has rapidly expanded its network and today boasts a presence in 31 districts in Assam. The Bank is also reaching the most remote parts of the state through its network of 592 business correspondents.
