HDFC Bank's MSME loan book in Tamil Nadu breaches Rs 20,000 crore

The bank was the second largest bank in the state with a market share of over 10 per cent, it said

Private sector HDFC Bank on Friday said the bank's micro, small and medium enterprises loan book for Tamil Nadu crossed Rs 20,000 crore as of September 30, 2021.

The bank was the second largest bank in the state with a market share of over 10 per cent, HDFC Bank said in a statement here.

HDFC Bank has been offering advances to MSMEs in Tamil Nadu from 2004 and in the last 17 years it has supported the growth plans of over 60,000 MSME enterprises in the State.

"MSMEs are the backbone of the economy and are among the largest job creators. We are proud to have been a partner in their growth journey with our world-class products. We thank our customers for the trust reposed in the bank", HDFC Bank, Head-Business Banking, Tamil Nadu, Arun Aravind said.

"Benefiting from the conducive policy environment, the enterprising state of Tamil Nadu presents opportunities for MSMEs and banks alike. To meet these requirements, we will expand to 20 locations in the State as well as increase our digital footprint", he said.

The bank has been offering its products under cash credit, working capital loan, term loan, overdraft against property, export finance among others, to MSMEs operating in the state.

Some of the key sectors the Bank has given advances in the MSME portfolio include textile, metal, paper and packaging, healthcare, food processing, consumer durable, among others.