The largest private sector lender, HDFC Bank, is ready to move to a bigger office at Sandoz House in Worli from where the bank had started its operations 25 years ago.
HDFC Bank started its operations in 1994. Sandoz House in south Mumbai was its first corporate office and full-service branch. It was inaugurated by then Union finance minister Manmohan Singh.
Sources said HDFC Bank has taken the complete building at Sandoz House, which will be used to accommodate its growing staff.
The managing director’s office and the treasury department will move to the new location.
The main reason of moving out of the Lower Parel office, from which the bank now operates, is the space crunch.
The bank had planned to move to its new office by Diwali this year but had to wait till the facility is ready for use, which is expected to be by the end of the year.