HDFC to rationalise branch network in northern region

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As part of its strategy to increase its penetration in rural areas, HDFC Bank will carry out a rationalisation and integration of branch structure in the northern region in view of merger with Centurion Bank of Punjab (CBOP) in 2008.

"We are at the planning stage of rationalizing and integration of our branch network in north in wake of merger with CBOP in a bid to enhance our penetration especially in rural areas," HDFC Bank, Regional Head- North, Govind Pande said in Chandigarh on Friday.

Under this exercise, the bank plans to carry out a survey in which it would identify the branches of CBoP (which are now with HDFC) and HDFC bank in same area and then relocate one of the branches in other areas.

"There is no point in having two branches of CBoP and HFDC at one area. Therefore, we will see where one branch could be relocated and our effort would be to relocate in rural areas," he said.

Since, before the merger, CBoP had a stronghold in the north (with over 100 branches in Haryana, Punjab, Chandigarh), this exercise would mainly be restricted to northern region only, he informed.

HDFC Bank on Friday also announced its plan to open a new branch in Chandigarh, which is the 29th branch in Chandigarh, Panchkula and Mohal region.

The new branch will offer its customers all banking services under one roof ranging from simple savings account, fixed deposits and current account to Mutual Funds, demat, NRI services and sophisticated direct access banking channels such as ATM, PhoneBanking, NetBanking and bCards, he said.