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Guwahati: HDFC Bank today announced that its total advances in Assam have crossed Rs 7,000 crore.
As of December 31, 2021, the bank's advances in Assam stood at Rs 7,008 crore. The total advances include all loans offered by the bank in the State, which include loans to retail, corporate, MSME, and microfinance customers.
In Assam, HDFC Bank is the largest private sector bank in priority sector MSME loans with a total market share of 8.72%. It is the largest private sector bank in Assam with a market share in total advances in the State at 7.54% percent.
Furthermore, in the last 12 months, the bank's total advances have grown by 12.81% percent from Rs 6,212 crore as of December 31, 2020.
"We are happy to be a partner of growth and fuel the economic activity in Assam as is evident from the 12.81% growth in advances in the last 12 months, even during Covid-19, to support the economy," said Sandeep S Kumar, Branch Banking Head-East, HDFC Bank.
Additionally, the bank has deposits of Rs 9,085 crore in the State. And along with the advances, it adds up to a total business of Rs 16,000 crore. The bank's market share in the total business is 5.93%.
HDFC Bank has 86 branches and over 143 ATMs in the State. It started its operations in Assam in 2004 with its first branch in Guwahati. Since then, it has rapidly expanded its network and today boasts of its presence in 31 districts in Assam, the bank stated in a press release. The bank is also reaching the most remote parts of the State through its network of 592 business correspondents, it added.
