HDFC Bank holds Mega Loan Mahotsava at Patas

HDFC Bank, the second largest private sector bank in the country, held a Mega Loan Mahotsava at Patas near Pune in Maharashtra.

Patas, located about 60 kms from Pune is one of the major producers of sugarcane and onion.

HDFC Bank organized a first-of-its-kind one-day Mega Loan Mahotsava in Patas with a focus on loans for construction, earth-moving equipment and agriculture. The Bank has partnered with blue-chip equipment makers such as JCB, L&T Komatsu, Terex, Telcon, Hyundai Construction, Schwing Stetter, Dowin, Fine Breakers, Volvo, ACE, Doosan, Action Construction Equipment, Wirtgen, Escorts, Case, Sany, Mahindra & Mahindra  and Trimurti Breaking Solutions. On display at the Mahotsava were different models of Excavators, Backhoe loaders, Compactors, Rock breakers, Tippers, Transit Mixers, compressors.

Mr. Anil Bhavnani, Head, Infrastructure Finance Group from HDFC Bank handed over keys to customers at the Loan Mahotsava. Amongst dignitaries present on the dais were Mr. Prashant Shitole, Member, Pune District Jila Parishad & Head, Daund Taluka, Mrs. Asha Pansare, Sarpanch, Daund Taluka, Mr. Yogendra Shitole, (ex-Sarpanch of Patas) and Mr. Appa Sahib Pawar, ex-Sabhapati, Daund Dist.

Mr. Nirav Shah, Country Head, Emerging Corporates Group & Infrastructure Finance Group, HDFC Bank from Mumbai said, “These Loan Mahotsavas have enabled us to directly reach out to farmers to offer them banking solutions as per their needs. Our efforts over the years have seen tremendous success and has also helped break traditional demographic and financial barriers in towns and villages."

Mr. Anil Bhavnani said, “Rural India has changed tremendously. By conducting these loan melas, we are reaching out to our rural customers and making a difference in their lives.”

About HDFC BANK
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India's leading housing finance company, HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its 21 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.

The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 16 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.

As of March 31, 2011, the Bank had a distribution network with 1,986 branches and 5,471 ATMs in 996 cities.

For the quarter ended March 31, 2011, the Bank’s total income was INR 67.24 billion (Rs 6,724.3 crore) as against INR 50.04 billion (Rs 5003.9 crore) for the quarter ended March 31, 2010. Net revenues (net interest income plus other income) were INR 40.95 billion (Rs 4,095.2 crore) for the quarter ended March 31, 2011, an increase of 24.0% over INR 33.02 billion (Rs 3,302.1 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended March 31, 2011 was INR 11.15 billion (Rs 1114.7 crore), up by 33.2% over the corresponding quarter ended March 31, 2010.

The Bank’s total balance sheet size increased by 24.7% to INR 2773.53 billion (Rs 277,353 crore) as of March 31, 2011. Total deposits were INR 2085.86 billion (Rs 208,586 crore), up by 24.6% over March 31, 2010.

Total income for the year ended March 31, 2011 were INR 242.63 billion (Rs 24263.4 crore).

Leading Indian and international publications have recognized the bank for its performance and quality.

For more information please log on to: www.hdfcbank.com