HT Bureau
GUWAHATI, May 5: As part of its ‘Project Future Ready’, HDFC Bank announced that it added over 1000 branches to its network over the past two years on Thursday. During the pandemic, the bank opened two new branches every day, and 734 branches were opened in FY22 alone. HDFC Bank also set a new record for the Maximum number of Bank Branches Simultaneously Inaugurated Pan India on March 31, 2022, when 250 Branches were digitally launched by Sashi Jagdishan, MD and CEO of HDFC Bank.
As of March 31, the Bank’s distribution network was at 6342 branches and 18130 ATMs across 3188 cities/towns. The bank had earlier announced increasing its permanent employee base by 90% with the total number of employees at 141579 as of March 31, 2022. The wide retail network of branches across the country would help the bank increase its presence as well as business. Branches are key points for customer acquisition and retail branch banking has evolved in a significant manner in the past few years.
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“Our branch banking strategy is to re-imagine this channel by bringing more science to the art of relationship management. Our branches represent the Bank to our customers, society, and other stakeholders and they own retail and business customer relationships. We are transforming our branches into ‘phygital’ infrastructure assets. Through catchment scoping and mining with institutionalised consistency, we are leading customer-centric conversations. This is enabled through our state-of-the-art IT infrastructure and artificial intelligence-led predictive analytics. We believe branches are key points to acquiring new customers, delivering a best-in-class experience to gain a larger share of wallet, and building customer loyalty. Nearly half of our branches are in semi-urban and rural areas and we are continuously extending the bank’s reach with an endeavor to support inclusive growth,” said Arvind Vohra, country head, Retail Branch Banking at HDFC Bank.
HDFC Bank unveiled organisational changes under ‘Project Future – Ready’ in April 2021 to power its next wave of growth. The Bank is reorganising itself into three clear areas of Business Verticals, Delivery Channels, and Technology / Digital to further build its execution muscle in all three areas and be ready for the future.
