HDFC Bank opens 500th branch in Madurai

CHENNAI: HDFC Bank launched its 500th branch at Arasaradi, Madurai district. The branch was inaugurated virtually by TN Finance Minister Palanivel Thiagarajan from the Secretariat of Tamil Nadu. Senior executives from HDFC Bank were present on the occasion. The Bank will continue to expand its network in the state with a greater focus on semi-urban and rural locations. HDFC Bank’s journey in TN began in 1995 when the first branch was inaugurated in Anna Salai, Chennai. HDFC Bank is the second largest bank in the state with a market share in advances of over 11.5 per cent and a credit-deposit ratio of 138 per cent. It is also the number one bank for MSME advances in TN. It employs over 13,000 people at present.