HDFC Bank expands branch network to 583, 1471 ATMs

HDFC Bank Ltd has announced the following Business Updates:

As of December 31, 2006, the Bank's distribution network had expanded to 583 branches and 1,471 ATMs in 263 cities from 535 branches and 1,326 ATMs in 228 cities as of December 31, 2005. As of December, 2006 the number of debit cards issued by the bank touched 4 million while credit cards issued crossed the 2.75 million mark.

Portfolio quality as of December 31, 2006 remained healthy with net non-performing assets at 0.4% of total customer assets, Capital Adequacy Ratio (CAR) was 12.8% against the regulatory minimum of 9%. Tier I CAR was at 8.4%. During the quarter ended December 31, 2006, the Bank has raised Rs 479 Crore of subordinated debt qualifying as Upper Tier II capital (including US$ 100 million in foreign currency).

Note:

1. Rs = Indian Rupees
2. 1 crore = Rs 10 million
3. All Figures and ratios are in accordance with Indian GAAP.

Source : Equity Bulls

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