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HDFC Bank mulls significant retail thrust in FY2001 - Views on News from Equitymaster
 
 
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  • Dec 28, 1999

    HDFC Bank mulls significant retail thrust in FY2001

    After its recent acquisition of TimesBank, HDFC Bank is contemplating opening 30 more branches in the coming fiscal year. After the expansion, the banks' branch network would stand increased to 137 numbers.

    HDFC Bank, promoted by the Housing Development Finance Corporation Ltd., provides a range of banking services including working capital finance, trade services, corporate finance and merchant banking. The bank also offers banking services via the Internet.

    HDFC Bank, after its merger with TimesBank, has emerged as India's largest private sector bank. As mentioned in earlier reports, the rationale for this merger was 'size' - in terms of branches and retail reach. A larger retail reach would enable the bank to offer services to a larger number of customers thus generating economies of scale. Moreover, it could then leverage on its large size to venture into other services like insurance and other such personal finance products.

    The larger network could be utilised by HDFC, the Bank's parent, to sell its housing and consumer durable finance products. This cross selling of products would generate additional income for the Bank.

    The decision to aggressively add branches augurs well for the bank in view of the tremendous scope for the generation of economies and the demand for new financial products. In addition to this, a national presence would catapult the bank among the leaders in the banking sector (as against a leader among private sector banks).

    Market View:
    HDFC Bank has been rated a 'BUY' mainly on account of its excellent management, strong promoters and the efforts taken by them to control the non performing assets (NPAs).

     

     

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