For The Long Run

...If there is one thing, Puri hates is the tag of an “elite bank”. He emphasises the point about HDFC Bank’s target being the aam aadmi. During 2012-13, the bank’s network expanded to 3,062 branches across 1,845 cities, up from 2,544 branches across 1,399 cities the previous year. The increase of 518 branches includes 193 micro branches, which are primarily two- or three-member branches meant to expand and deepen penetration in rural markets, including unbanked areas. The bank’s focus on semi-urban and under-banked markets continued with over 88 per cent of new branches coming up in semi-urban and rural areas. Puri’s belief is that it will be these markets that will drive the HDFC Bank story in the years to come, and he is ready to play the waiting game...........

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