| The bank also intends to corner a portion of the semi-urban market and is in the process of establishing a presence in these areas. |
| "We have filed applications with the licensing authorities in India as well as in the three foreign locations. They are in different stages of consideration by the authorities," said Aditya Puri, managing director, HDFC Bank. |
| On the bank's M&A plans, Puri said, "There aren't too many takeover candidates available that can provide synergy with our bank. Hence we intend to grow through the organic route." |
| HDFC Bank has also entered into talks with a few foreign players for allowing Indians to invest abroad. |
| "We are weighing the pros and cons of the business "" and would make an announcement when we are ready," Puri said. |
| When asked if he intended to transform these offices into full-fledged branches in these areas, he said, "The decision would depend on the quantum of business these offices manage to do. As of now we would be tying up with an entity that will enable NRIs to remit funds to India." |
| Back home, as many as 33 per cent of HDFC Bank's 286 branches are located in semi-urban areas and it intends to open another 75 branches, 25 of which would be in semi-urban areas. |
| It also proposes to add 400 automated teller machines (ATMs). It has around 850 ATMs till date. |
| On the bank's capital raising exercise, Puri said the bank might consider raising its Tier-II capital only next year. This, however, would depend on the quantum of business the bank manages to generate. |
| "We have recently raised Rs 260 crore of Tier-II capital through bonds and our capital adequacy ratio stands at 11.3 per cent while the bank's credit-deposit ratio is close to 55 per cent." |
| The bank's thrust is also on commercial vehicle, two-wheeler and auto financing. Its cards business, which has touched a half-a-million customer base, is also on top of the agenda. |
Explore Business Standard