- 150 Gramin Loan Mahotsavas planned across India under Bank’s Rural Campaign –
Haldia (West Bengal), December 21, 2010: HDFC Bank, one of the premier banks in the country, held a Mega Loan Mahotsava at East Medinapur in Haldia (West Bengal).
East Medinapur is one of the fastest developing districts in West Bengal in terms of industrial growth. Many leading industries like HPCL refinery, Gokul Refoils, Adani Wilmart, Emami Bio-Disel, Ruchi Soya, Exide, Hindustan Uniliver, Indian Oil, Mitsubishi and others are housed in East Medinapur. This district is also known for Paddy and Jute crops.
HDFC Bank organized a first-of-its-kind one-day Mega Loan Mahotsava in East Medinapur with focus on loans for construction, earth-moving equipment and agriculture. The bank partnered with blue-chip equipment makers such as JCB, L & T Komatsu, Terex, Telcon, CATerpillar, Escorts Construction, L&T Case Equipment, Standard Cranes and Hyundai Construction. On display at the Mahotsava were different models of Backhoe Loaders, Excavators, Cranes and Tippers.
HDFC Bank kick-started the Mega Loan Mahotsava under the bank\\\’s New Rural Campaign in July 2010 at Pimpalgaon near Nasik in Maharashtra. The Bank is holding a total of 150 Gramin Loan Mahotsavas, small and big, across the country. The states include Gujarat, Maharashtra, Rajasthan, Andhra Pradesh, Karnataka, Tamil Nadu, Orissa, West Bengal and Punjab.
Mr. Anil Bhavnani, Head, Infrastructure Finance Group from HDFC Bank handed over keys to customers at the Loan Mahotsava. Amongst dignitaries present on the dais were Basab Raj Chowdhury, GM-Haldia Port Trust, Shri Prashant Kumar Patro Director, Progressive Endeavours, Shri PK Jaiswal, Director, Ripley & Co. and Ms. Meenu Biswas, Circle Head, Branch Banking, HDFC Bank.
Mr. Ashima Bhat, Country Head, Emerging Corporates Group & Infrastructure Finance Group, HDFC Bank from Mumbai said, “Welcome changes are sweeping across India, especially rural India. We are a major financial intermediary in the country today, and it is our earnest endeavour to make a difference to the lives of people residing there by reaching out to them. We are committed to partnering our customers in their journey of progress.”
Speaking on the occasion, Mr. Anil Bhavnani said, “With the help of such Loan Mahotsavas, we are able to directly reach out to farmers without intermediaries and offer them banking solutions as per their needs.
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 19 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 15 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.
As of September 30, 2010, the Bank had a distribution network with 1,765 branches and 4,721 ATMs in 819 cities.
For the quarter ended September 30, 2010, the Bank’s total income was INR 57.71 billion (`5,770.7 crore) as against INR 50.45 billion (`5,045.4 crore) for the quarter ended September 30, 2009. Net revenues (net interest income plus other income) were INR 34.87 billion (`3,487.0 crore) for the quarter ended September 30, 2010, an increase of 15.9% over INR 30.09 billion (`3,009.3 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended September 30, 2010 was INR 9.12 billion (`912.1 crore), up by 32.7% over the corresponding quarter ended September 30, 2009.
The Bank’s total balance sheet size increased by 28.9% from INR 1939.41 billion (`193,941.0 crore) as of September 30, 2009 to INR 2499.83 billion (`249,983.0 crore) as of September 30, 2010. Total deposits were INR 1953.21 billion (`195,321.0 crore), up by 30.4% over September 30, 2009.
Total income for the year ended March 31, 2010 were INR 199.80 billion (`19980.5 crore).
Leading Indian and international publications have recognized the bank for its performance and quality.
For media queries please contact:
Head, Corporate Communications
HDFC Bank Ltd., Mumbai.
Tel: 91 – 22 – 6652 1308 (D) / 6652 1000 (B)
Fax: 91 – 22 – 2490 3168
Mobile: 093236 20828