HDFC will open 200 branches in North east region, hiring 2000 people

HDFC bank recently declared that it is going to increase its headcount by 50 per cent to 6,000 employees in the north-east (NE) region in the next 2-3 years to achieve its network expansion plans.

In next one year, the bank is planning to hire 1500 people in Assam state as it has a plan to increase the branches in Assam from 72 to 100, HDFC Bank Executive Vice President Sandeep Kumar said.

“North-east is very important for our business. We currently have 136 branches spread across the region. Our plan is to take this number to 200 in the next 2-3 years,” Kumar said at a press conference here.

To fulfill the requirements of the increasing demand and to achieve the expansion plans, it will hire more people in upcoming years, he said.

“At present, we have 4,000 staffers in the north-east on company rolls. In the next 2-3 years, our employee strength in the region will be around 6,000 people,” Kumar said.

Talking about Assam, he said that HDFC bank has 72 branches in Assam right now and it is planning to increase its branches upto 100 by the end of next year.

“During this one year time, we will hire about 1,500 people in Assam to take our headcount to 4,000 employees in the state,” he said.

On the event of celebration of completing 15 years of HDFC in Assam, Kumar said that the business of the bank is growing at 24% in the Assam State n comparison to 14% growth of the banking sector.

“Our credit-deposit ratio is at 103 per cent. Our total business exposure in the state is at ₹10,209.34 crore and the bank has reached to about 18 lakh people, of which 15.5 lakh have been touched through various CSR activities, across Assam,” he said.

Kumar also told to media that around 56% of the branches of the HDFC bank in Assam are semi urbans and rural areas.

Increasing the branches in the state would be a great step by the bank in order to grow more, specially after the announcement of the amalgamation of the public sector banks. As the government has decided to amalgamate the public sector banks and reduce the total to 12 from 27, it will be a hard time for private sector banks.

However, inreasing branches of the bank would help it to compete better in the Banking sector with other private banks and Public sector banks. As it would attract more customers towards the business.

The bank will also hire more employees due to the increase in the branches. This will surely raise the employment opportunities for the people of Assam.