HDFC has been working on increasing its access in rural areas. Following on this strategy bank will be carrying out a rationalization and integration of its branch structure in the northern region in view of merger with Centurion Bank of Punjab (CBOP) this year.
"We are at the planning stage of rationalizing and integration of our branch network in north in wake of merger with CBOP in a bid to enhance our penetration especially in rural areas," HDFC Bank, Regional Head- North, Govind Pande said here today.
During this exercise bank will be carrying out a survey in which it will be identifying the branches of CBoP (which are now with HDFC) and HDFC bank in same area and then will be relocating one of the branches in other areas.
"There is no point in having two branches of CBoP and HFDC at one area. Therefore, we will see where one branch could be relocated and our effort would be to relocate in rural areas," he said.
He informed that as such before the merger, CBoP was having a stronghold in the north (with over 100 branches in Haryana, Punjab, Chandigarh), in fact this exercise will be mainly concentrated to northern region only.
HDFC Bank also announced plans to open a new branch here which will be the 29th branch in Chandigarh, Panchkula and Mohal region.
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