MUMBAI : India’s largest private lender HDFC Bank plans to leverage its distribution in non-urban markets and digital strengths to expand its small and medium enterprise (SME) banking platform, its management told analysts. Brokerage firm Jefferies hosted HDFC Bank chief executive Sashidhar Jagdishan and chief financial officer Srinivasan Vaidyanathan at its recent India Financial Summit. The bank expects the SME business to be the fastest-growing segment over the next three-five years. In April, HDFC Bank announced an internal reorganization that would see it form three distinct focus areas, namely, business verticals, delivery channels, and technology. HDFC Bank was ordered to halt launching new digital banking initiatives and freeze credit card issuance until the lender addresses the lapses that led to a series of glitches.

Source: Mint June 13, 2021 04:26 UTC