Not looking at takeovers for now: HDFC Bank

HDFC Bank today said it is not looking at any inorganic growth for now as it plans to consolidate its business after the recent acquisition of Centurion Bank of Punjab (CBoP).

"We don't want to go for any acquisition at this point of time. We acquired Centurion and with that our branch network has almost doubled...So we will now focus on consolidation rather than expansion," HDFC Bank Managing Director Aditya Puri told reporters here today. Post-CBoP acquisition, HDFC Bank's branch network grew to 1,800 with over 3,295 ATMs, spread across 528 cities.

Talking about liquidity position, Puri said liquidity presently is comfortable. "After paying-out for 3G, there is enough liquidity in the system...And the steps announced by the RBI are likely to flush the market with more cash flows," Puri added.

Asked on the bond yields outlook, Puri said: "Tt is biased to go up but not much." Puri further said the bank would grow at a slightly higher than the industry rate.