HDFC Bank surpasses ICICI Bank in terms of branch network
Posted by ayadav242 on January 6, 2009
The country’s second largest private sector lender, HDFC Bank, which added 658 branches in 2008, has pipped ICICI Bank in terms of branch network.
As per the information available on its Website, HDFC Bank has a nationwide network of 1,412 branches spread across 528 towns and cities. At the same time, ICICI Bank, the largest player in terms of asset and market capitalization, has a network of 1,400 branches.
ICICI Bank has already got permission to open another 587 branches, a spokesperson of the bank said.
HDFC Bank has almost doubled its branch network last year through organic as well as inorganic growth route.
Last year, the Mumbai-based bank acquired Centurion Bank of Punjab leading to the integration of 404 branches, while it opened 254 new branches of its own during the year.
The bank also opened its first overseas branch in Bahrain during the year to provide trade financing to corporate clients and wealth management services for NRIs.
