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HDFC Bank seeks Singapore bank license to grow overseas

HDFC Bank, India s largest private sector lender, is seeking approval for a banking license in Singapore. The bank aims to tap into the Indian diaspora in Singapore for savings and term deposits, as well as cross-sell products like mortgages. HDFC Bank already has a presence in London, Hong Kong, and Bahrain. With a customer base of 93 million, the bank is expanding its reach overseas after a merger with Housing Development Finance Corp. last year.

HDFC Bank plans to increase branches to 13,000 in next 3-5 years, says CFO

Srinivasan Vaidyanathan, Chief Financial Officer, HDFC Bank, highlighted that branch and network reach is important for growing granular deposits.

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