HDFC Bank to focus on digital platform for sustained growth

Private sector HDFC Bank plans to focus on digital platforms in rural and semi-urban markets to achieve sustained growth in the coming years.

The bank is well positioned to continue to grow faster than the banking sector both in retail and wholesale segments, HDFC Bank said in its annual report for 2015-16.

According to the report, "over the next couple of years, the bank will leverage on its distribution strength and digital platforms especially in the rural and semi-urban parts of the country for a more sustained growth."

During the year, the bank introduced digital innovations including loans at ATMs, missed called recharge and 10 second personal loan.

The report further said the bank will continue its focus on five core values of customer focus, operational excellence, product leadership, people and sustainability.

"Needless to say, your bank will continue to operate with the strongest possible commitment to corporate governance. All of this will help the bank on its onward growth journey and help create long term shareholder value," it said.

Meanwhile, the bank has emerged as the most honoured company in the latest ranking released by Institutional Investor magazine.

It has also judged the bank's Managing Director Aditya Puri as the best CEO. Puri got the maximum jump in remuneration among private bank chiefs in 2015-16, with a 31% growth at Rs 9.73 crore.