HDFC Bank plans to hire thousands of new staff
(29 June 2015 – India) HDFC Bank Ltd, India’s biggest lender by market value plans to hire thousands of new employees and open hundreds of new branches in the second half of this year as it seeks to boost lending.
The Mumbai-based bank has already boosted its staff numbers by 10,000 in the year to March, after not hiring for the past two years.
Deputy managing director Paresh Sukthankar said the bank was looking at increasing workers across its businesses in the current year, as it invests further in its business and extends more loans.
The firm had 4014 branches, with 78,000 employees at the end of March.
Led by Managing Director Aditya Puri, HDFC Bank boosted loans by 20.6 percent in the year to March, compared with about 10 percent for the industry.
The company has managed to increase profit by at least 20 percent every year since 1998, according to Bloomberg.
This growth has enabled HDFC Bank the scope to increase its hiring at a time when many banks throughout the world are cutting jobs to bolster profitability.