HDFC Bank to expand in AP, Telangana

Private lender HDFC Bank today said Andhra Pradesh and the newly-formed Telangana stood top on the bank's high-growth avenues and added the regions would see expansion in branch network in the next two to three years.

"We will continue to expand our network in both the states as we see huge demand for credit in the next few years," said Madhusudhan Hegde, branch banking head, HDFC Bank.

Announcing the launch of the bank's 150th branch in Telangana on Wednesday, Hegde said the bank currently had 107 branches in Andhra Pradesh, which would be scaled up to 150 in the next two years.

On the crop loan waiver in the regions, he said of the eligible loans worth Rs 750 crore, the bank had so far received reimbursement for 20% from both the state governments.

Hegde said the bank had opened 100,000 no-frill accounts under the Prime Minister's Jan Dhan Yojana in the region and added 21% of them were active.