In Short:
HDFC Bank aims to lower its credit-deposit ratio post-merger and grow advances slower than deposits for profitable growth, focusing on liquidity, repayment, and profitability thresholds. The merger with HDFC has expanded mortgage opportunities and increased home loan disbursals. The bank plans to leverage customer engagement and cross-selling, shift to a customer-centric approach using technology, and invest in digital branches for future deposit growth.
HDFC Bank focuses on profitable growth and maintaining liquidity
Get ready for some exciting news from the world of banking! HDFC Bank, under the leadership of MD and CEO Sashidhar Jagdishan, is all set to bring down its credit-deposit ratio to pre-merger levels while pursuing profitable growth. How? By ensuring their advances grow a bit slower than deposits. Isn’t that interesting?
Making Strategic Moves Post-Merger
Following the merger with Housing Development Finance Corp. (HDFC), HDFC Bank is gearing up to tap into massive opportunities in the mortgage space. By focusing on both increased home loan disbursals and cross-selling opportunities, the bank is on track to strengthen its position in the market. The share of HDFC Bank’s savings account customers in home loan disbursals has already seen a significant jump. Exciting times ahead!
Embracing Digital Transformation
But that’s not all! HDFC Bank is also revamping its approach from being ‘product-centric’ to ‘customer-centric’ through technology-driven transformation. Over three-quarters of the bank’s acquisitions are now digitally powered, with innovative offerings like PayZapp, SmartHub Vyapar, and CBX gaining popularity among customers. Impressive, right?
Investing in People
Despite challenges in the banking sector, HDFC Bank is forging ahead with a robust talent strategy. By investing in upskilling their workforce of over 200,000 employees, the bank has successfully reduced new joinee attrition and overall attrition rates. A positive step towards building a strong and loyal team!
Exciting times lie ahead for HDFC Bank as it navigates through these strategic moves to ensure sustainable growth and customer-centric services. Stay tuned for more updates!
