HDFC Bank opens 5,000th branch
Hyderabad February 19th, 2019: HDFC Bank opened its 5,000th branch in the country on Monday. In a double milestone, this branch was launched on the same day that it commenced operations in 1995, marking the start of its 25th year. The first branch was launched in Mumbai at Sandoz House, Worli.
Mr Aditya Puri, Managing Director, HDFC Bank inaugurated the 5,000th branch in MIDC, Andheri, Mumbai accompanied by school children from a nearby school and senior colleagues from the Bank.
In 1994, the Bank came into being as India opened its economy through liberalisation. Right from the launch of its first branch, the Bank has remained steadfast in its endeavour to provide not just convenience but an experience to customers. Be it branch network, innovative products and services or leveraging technology to offer different ways of banking, the Bank has believed in making a difference.
This effort to make a difference is not just reflected in its business, but also in the attempt to invoke a change in the society it operates in. Parivartan, the umbrella name for the Bank's CSR means change. It's a reinforcement of the belief that for any business to grow, it has to partner and be an enabler of growth of the society.
'It is a nostalgic and emotional moment for me and my 95,000 colleagues at the Bank.
We have seen India change in the last quarter century to emerge as the world's fastest-growing economy. We have of course benefited from this growth. But what gives us greater satisfaction is that every branch opened acts as a catalyst for social change. We have already made a difference in the lives of 3.5 crore Indians through our social initiatives under the Parivartan umbrella. Going forward, we will continue to in our effort to not just take banking to every part of the country but also make a difference to the society,' said Mr. Puri.
While the landmark branch is in Mumbai, about half of the bank's branches are in the semi urban and rural areas.
'We also thank our stakeholders who have partnered with the bank in its journey and reaffirm our commitment to them. We promise to all of you that we will continue to adhere to the same high standards of fairness, transparency, prudence and corporate governance that you have known us for,' said Mr Puri.
1995: HDFC Bank secures licence in January, 1995 and opens first Corporate Office/Branch in February 1995. Lists on BSE/NSE.
1999: Times Bank merged with HDFC Bank.
2000: First Bank in India to launch mobile banking.
2001: Lists on NYSE.
2008: Centurion Bank of Punjab merged with HDFC Bank.
2013: Our Bank's Sustainable Livelihood Initiative, which helps empower women in rural India by giving them direct access to livelihood finance, reaches out to over 20 lakh families.
2014: Earns the distinction for organising the largest blood donation drive (multiple venues) on a single day globally from the Guinness World Record.
2018: MOU signed with Government of India SPV CSC to financially empower rural India in close to 2 lakh villages with the help of 3 lakh village-level entrepreneurs.
News Posted: 19 February, 2019